Mumbai: SBI Credit Card holders can withdraw cash using the Cash Advance Facility. The Cash Advance Facility is provided by most banks in the country. A credit card holder can withdraw cash up to a certain limit at a bank or through an ATM using his card.
The cash withdrawal limit is the amount of cash the cardholder can withdraw using a particular credit card. SBI typically offers a cash advance limit of 80% on most of its credit cards. That is , if the credit limit of a particular card is Rs.2 lakh and if the cash limit is 80%, the cardholder will be allowed to withdraw Rs.1,60,000 using the credit card.
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Interest on cash advance or finance charges are generally imposed on a monthly rate from the day cash is withdrawn using the credit card till the amount is repaid in full.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%.
Steps 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.
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