Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • SBI Credit Card Cash Withdrawal

    Cash advance is a facility that is provided by most banks in India. Using this, a credit cardholder can withdraw cash up to a certain limit over the counter at a bank or through an ATM. SBI also provides this service to its customers who possess a credit card that is offered by the bank. Almost all the credit cards offered by SBI come equipped with this facility and can be used to withdraw cash from an ATM. However, the amount of cash that can be withdrawn vary from card to card and so do the charges levied on availing this facility.

    Let us take a detailed look at this facility, the benefits that come along with it as well as the charges it attracts.

    SBI Credit Card Cash Withdrawal Limit

    Cash withdrawal or cash advance limit is the amount of cash the cardholder can withdraw using a particular credit card. Mostly denoted in terms of percentage, it is the part of the total available credit limit on the card in question.

    For example, if the credit limit of a particular card is Rs.2 lakh, the cash advance limit on it would vary between 20% and 80% of the same. If the cash limit is 20%, the cardholder can withdraw Rs.40,000 as cash by using their credit card. Similarly, if the cash limit is 80%, the cardholder will be allowed to withdraw Rs.1,60,000 using the credit card. SBI typically offers a cash advance limit of 80% on most of its credit cards.

    SBI Credit Card Cash Advance Fee

    SBI, like all other banks, charges a cash withdrawal fee. This is a transaction fee that the cardholder needs to pay each time they withdraw cash using their credit card. This fee will be added to their credit card bill in the following statement.

    SBI charges a cash advance fee of 2.5% of the amount withdrawn or Rs.300 (whichever is higher), whereas for international transactions, a fee worth 3% or Rs.300 (whichever is higher) is levied. For instance, if the cardholder withdraws Rs.1000 using their SBI credit card, they will have to pay Rs.300 as the cash advance fee in the next billing cycle. However, if they withdraw Rs.15,000 using their SBI credit card through an ATM, they will have to pay Rs.375 as the cash advance fee in the next billing cycle. However, SBI holds the right to change the cash advance fee any time.

    In addition to this, cash advances also attract a finance charge from the date the amount is withdrawn using the credit card till it is repaid in full.

    Interest Charged On SBI Cash Advance

    Cardholders need to pay an interest on availing the facility of cash advance on any credit card offered by SBI. Interest on cash advance or finance charges are levied on a monthly rate from the day cash is withdrawn using the credit card till the amount is repaid in full. Under SBI, each credit card has a different rate of interest ranging from 2.25% per month to 3.35%. Applicants can check the same before applying for an SBI credit card.

    Listed below are the finance charges of a few SBI credit cards:

    SBI credit card variant Rate of finance charge or interest on cash advance
    Monthly Rate Annual Rate
    SBI Card Elite Advantage, SBI Card Unnati 2.25% 30%
    SBI Card Elite, SBI Card Prime, SBI Prime Advantage, SimplyCLICK SBI card, SimplySAVE SBI Card, Central SBI Select+ Card, Central SBI Select Card, STYLEUP Contactless Card, BPCL SBI Card 3.35% 40.2%

    How To Withdraw Cash Using An SBI Credit Card

    Cardholders can withdraw at any of the ATMs, and not specifically from SBI ATMs. The procedure to avail cash advance from ATMs using a credit card is similar to that of using a debit card.

    Listed below are steps that the cardholder needs to follow:

    • Cardholder needs to step into an ATM.
    • Next step is to insert their SBI credit card in to the slot.
    • Then, the cardholder will need to select his preferred language from the ones listed on the screen.
    • Next, they will need to select the option of “Cash Withdrawal.”
    • Once they do that, they will need to enter the amount they wish to withdraw and tap on “Enter.”
    • Cash will be dispensed immediately.

    SBI Cash Advance Fees And Charges

    Listed below are the fees and charges levied on the cash withdrawal feature of SBI credit cards:

    Description of charges Percentage of the charge
    Interest-free period Nil
    Cash advance fee 2.5% of the amount withdrawn or Rs.300 (whichever is higher)
    Minimum repayment amount 5% of the minimum outstanding balance
    Cash advance limit 80% of the total credit limit available
    Finance charges on revolving credit
    • A monthly rate of 2.25% or an annual rate of 30%.
    • A monthly rate of 3.35% or an annual rate of 40.2%

    Pros And Cons Of SBI Cash Advance Facility

    Like every other feature of a credit card, the cash advance facility also comes with a bunch of pros and cons. Let us take a detailed look at the advantages and disadvantages of withdrawing cash using an SBI credit card:

    Advantages Of Cash Advance:

    • Cardholders have the freedom of withdrawing cash during times of emergency and to pay at places where card transactions aren't accepted.
    • This process doesn't require any kind of documentation and is simple.
    • Cardholders don't need approval from the bank to withdraw cash.
    • They can withdraw cash from ATMs located in the country as well as outside.

    Disadvantages Of Cash Advance:

    • Cardholders need to pay a fee every time they withdraw money using their credit card.
    • They will also need to pay an interest from the date of withdrawal of the cash.
    • There is no interest-free period.
    • Cash advance doesn’t come with reward points.
    • The interest charged is more than regular card transactions.

    Frequently Asked Questions About The Cash Advance Facility Available On SBI Credit Cards

    1. Is it possible to withdraw cash using an SBI credit card form an ATM of any other bank?
    2. Yes, you can withdraw cash using an SBI credit card form an ATM of any other bank.

    3. Is there a limit on the amount of money I can withdraw using an SBI credit card?
    4. Yes, you can only withdraw 80% of your credit limit.

    5. Do I get any reward points on using the cash advance facility?
    6. No, you can’t earn any reward points on using the cash advance facility.

    7. When will the withdrawn amount of cash reflect in my credit card bill?
    8. The amount of cash withdrawn will reflect on your following billing cycle.

    9. Will my cash advance limit also increase if I stretch my credit limit?
    10. Yes, your cash advance limit will increase if you stretch the credit limit on your card.

      

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    SBI Credit Card Cash Withdrawal Reviews

    • RBL Bank Credit Card
      "Easy to convert for EMI "
      0.5 4.0/5 "Great!"
      I got RBL card offer from BAJAJ Finance. I have been using this card past 10 months which is a life time free card. The credit limit is sufficient of 55K. EMI conversion is avail and I can convert via mobile app whenever required with nominal charge. I use this card for general purpose. Based on usage I get points but not yet redeem it.
      Was this review helpful? 75
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards
      SBI Cards Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      SBI credit card have offers and reward points but I have not redeem them yet, this is a domestic card, the credit limit is of 50000 which I am very much satisfied as per my need. I got my statement on time. I used this card for personal purposes.The card is very user friendly.
      Was this review helpful? 80
      , hyderabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      I am using SBI credit card for more than three months, there are some reward points and offers in the card. I used this card for online shopping, fuel surcharge and groceries.The credit limit of the card is sufficient and I like the most about the card is that it is a life time free card and very good to use.
      Was this review helpful? 73
      , hyderabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      The bank agent suggest me to take credit card from INDUSIND and I have taken it because it doesn't have any annual fee. The offer and reward points are available in the card are good. I am satisfied with the limit of the card. I used the card for general purposes. But it will be nice, if the offers and reward points will be more.
      Was this review helpful? 58
      , jaipur
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using INDUSIND credit card for 3 months. The card have no offers available and also there is no rewards. The only benefit is that its a life time free card and the credit limit is only for 75000 I am not that satisfied as i expected to get around 1.5 lakh. Apart from the limit over all experience is good.
      Was this review helpful? 57
      , chennai
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have got INDUSIND credit card few months ago and I have used it for two months now ,the credit limit of the card is Rs.70000 which is a life time free card. The bank have informed me every details about the reward points and offers but I have not got any time check it. I am satisfied with their card service.
      Was this review helpful? 59
      , hyderabad
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Am having ICICI credit card for two years, I feel good and have not face any issues. The best part about the card is its a life time free card. I used to get my card statement on time. I used this card for shopping, groceries and for many other personal purposes.I am using the bank mobile app which function smooth and simple.
      Was this review helpful? 69
      , faridabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have used SBI credit card for 2-3 months, but I have not got any time to check about the offers available in the card. The limit of the card is 38000 and I am satisfied because its a life time free card. I used to get my card statement on time and the net banking is also working very well.
      Was this review helpful? 76
      , faridabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service "
      0.5 4.0/5 "Great!"
      Since it is a life time free card offer from INDUSIND so I chosen it and applied through online. I received a call on time and they have done the verification process. Hence I received the card by 7 days, the credit limit is okay for me. Its easy to use for all purposes.
      Was this review helpful? 56
      , chennai
      Reviewed on Mar 21, 2020
    • Citibank Credit Card
      "Good "
      0.5 4.0/5 "Great!"
      CITI has provided good offers and benefits on 2 months before. So I chosen this card and applied through online. It is annual fee chargeable of 500 rupees bu there is waiver off option if I spend 30K within a year. The credit limit is 65K. There is EMI conversion avail for this card.
      Was this review helpful? 54
      , coimbatore
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "very good"
      0.5 5.0/5 "Blown Away!"
      I have used credit card from HDFC bank for 1 year which is very good and also very comfortable, its a life time free card and lots of offers are available in the card. This card was suggested to me by my colleague. Mobile banking also functions very smooth.
      Was this review helpful? 83
      , bangalore
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Average service"
      0.5 4.0/5 "Great!"
      INDUSIND bank credit card have an credit limit of of Rs.75000, there is no offers available in the card and it also have a charges of 3000 along with GST. I hardly receive any remainder messages for my bill payment due to that some time I could not pay my bill on time. I would advise them send my bill on time before the due date.
      Was this review helpful? 57
      , bangalore
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Need to increase the credit limit "
      0.5 5.0/5 "Blown Away!"
      I have been using ICICI card for more than one year. They have provided an annual fee chargeable card and waiver off option is applicable. The credit limit is okay of 50K. Since I need to do purchase about 45K on some of the month so this limit is not sufficient. I swipe the card for travel, shopping and fuel purposes. I have not opted for EMI conversion.
      Was this review helpful? 58
      , kolkata
      Reviewed on Mar 21, 2020
    • Axis Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have been using AXIS bank credit card for 3 years, Its a life time free card so I applied the card through bank. The agent have informed me everything about the card. I used to get offers of 10% on petrol bunk and shopping.The limit of the card is Rs.45000 and I used to pay my bill directly through bank.I am also using their net banking which is very good.
      Was this review helpful? 74
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      I got INDUSIND credit card from few months ago.The card have an EMI conversion. I used the card for multi purposes like shopping, online payment, ticket booking. This is annually chargeable card, I am not satisfied with the credit limit of Rs.75000 as I am expecting more than than 1 lakh.
      Was this review helpful? 61
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a life time free card offer from INDUSIND bank hence applied through online on three months back. I received the call on time and the process was done on smooth. I got the card on exact time frame. The credit limit is sufficient and they provided good offers and benefit as well.I use this card for shopping and travel purpose.
      Was this review helpful? 49
      , kolkata
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Average service"
      0.5 1.0/5 "Really Bad"
      RBL credit card is a chargeable card, I always have to go to Bajaj Finance to pay my credit card bill. I am not satisfied with the customer service which has to be improved. I used this card when ever needed for shopping, fuel surcharge and bill payment.The limit of the card is fine.
      Was this review helpful? 83
      , ranchi
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      HDFC credit card is very convenience to use, I have been using the card for 4.5 months for Shopping, groceries, fuel surcharge and electricity bill payment also. I pay my credit card bill through ATM. I always get my bill on time, this card was suggested to me by the bank agent.
      Was this review helpful? 70
      , ranchi
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Okay service "
      0.5 3.0/5 "Satisfactory"
      I used RBL card for twice only. I get message or call for EMI conversion from banker. It is a life time free card. Once all the process done I received the card by 15 days. I am holding this card past 6 months. The credit limit is sufficient of 30K. Once I tried to convert for EMI of 3 months it was done on time without any problem. It is Bajaj card.
      Was this review helpful? 55
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have been using SBI credit card for the last two months, the credit limit of the card was satisfied it was Rs.9,80,000. The bank agent came and collect my document he have informed me every detail about the card. The card have a charges of Rs.2299 in a year. I used to pay my credit card bill through bank. Am getting my card statement in softcopy but I wish the bank can send me a hard copy statement also.
      Was this review helpful? 89
      , gurgaon
      Reviewed on Mar 21, 2020
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