Guide to Withdraw Cash with Your SBI Credit Card, Limits and Rates

Guide to Withdraw Cash with Your SBI Credit Card, Limits and Rates

Customers of SBI, take note! The majority of banks in the country provide the Cash Advance Facility, which allows you to withdraw cash if you have an SBI credit card. You can use an ATM or a bank to withdraw cash using the Cash Advance Facility up to a certain amount. However, SBI provides this service to clients who own bank-issued credit cards.

The SBI credit card allows cash withdrawals from ATMs and its many other features. It should be noted that the fees involved with using this service vary according to the card being used, as does the maximum amount of cash that may be taken out.

Check Steps How to Withdraw Cash Using SBI Credit Card

  • You have to visit an ATM counter first.
  • Put your SBI credit card in the slot.
  • Next, choose your favourite language from the ones that appear on the screen.
  • Next, choose the “Cash Withdrawal” option.
  • Enter the desired withdrawal amount on the home screen and hit “Enter.”
  • The cash will be dispersed immediately.

SBI Credit Card Cash Withdrawal Limit

  • Credit card customers must be mindful that their specific credit card’s cash withdrawal limit is the maximum amount of money they can take out.
  • The process is part of the card’s overall credit limit. For example, if a certain card has a credit limit of Rs. 2 lakh, the cash advance limit would be 20% to 80% of that amount.
  • In addition, the cardholder can use their credit card to withdraw Rs. 40,000 in cash if the cash limit is 20%.
  • In the same way, the cardholder can use the credit card to withdraw up to Rs. 1,60,000 if the cash limit is 80%. For most of its credit cards, SBI offers a cash advance maximum of 80%.

Interest Rate on SBI Credit Card

If a cardholder wants to use any of the SBI credit cards for cash advances, they have to pay an interest fee while using the credit card. From the day cash is taken out using the credit card until the whole amount is repaid, interest on cash advances and financing expenses are usually calculated monthly. Every credit card has a separate interest rate, which varies from 2.25% to 3.35% each month, according to SBI guidelines.

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