SBI Credit Card Latest Update: With the Cash Advance Facility, you can withdraw cash up to a certain limit at a bank or through an ATM.
New Delhi: Attention SBI customers! If you are using an SBI Credit Card, you can withdraw cash using the Cash Advance Facility which is provided by most banks in the country. With the Cash Advance Facility, you can withdraw cash up to a certain limit at a bank or through an ATM. Notably, the SBI offers this service to its customers who hold a credit card that is offered by the bank.
Even though the SBI credit card comes with many other facilities, it can be used to withdraw cash from an ATM. It must be noted that the amount of cash that can be withdrawn varies from card to card and so do the charges imposed on availing of this facility.
Check Steps How to Withdraw Cash Using SBI Credit Card
- First, you need to go to an ATM counter.
- Here, insert SBI credit card in to the slot.
- Then, select preferred language from the ones listed on the screen.
- After this, select the option of “Cash Withdrawal.”
- On the home screen, enter the amount that you wish to withdraw and tap on “Enter.”
- Cash will be dispensed immediately.
Check Here SBI Credit Card Cash Withdrawal Limit
- The credit card holders must note that the cash withdrawal limit is the amount of cash the cardholder can withdraw using a particular credit card.
- The process is part of the total available credit limit on the card in question. For instance, if the credit limit of a particular card is Rs.2 lakh, the cash advance limit would be between 20% and 80% of the same.
- Moreover, if the cash limit is 20%, the cardholder can withdraw Rs.40,000 as cash by using their credit card.
- In the similar manner, 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.
Interest Rate on SBI Credit Card
While using the SBI Credit Card, the cardholders need to pay an interest fee on availing the facility of cash advance on any credit card offered by SBI. Interest on cash advance or finance charges are generally imposed on a monthly rate from the day cash is withdrawn using the credit card till the amount is repaid in full. As per the SBI guidelines, each credit card has a different rate of interest ranging from 2.25% per month to 3.35%.