If you are going to withdraw or have already withdrawan cash from your Credit Card, then you are liable to pay withdrawal charges also known as Cash Advance Charges. Almost all banks charge similar advance fee (from 2.5% to 3%).
If you want to know the exact charges that you need to pay for the Cash you are going to withdraw using your Credit card, use our Credit Card cash withdrawal charges calculator. This simple calculator asks you to enter the Amount, then choose your Bank and click on “Calculate Fee”. Finally, you can find the exact amount.
Credit Card Cash Withdrawal Fee Calculator
This calculator accurately calculates the cash withdrawal charges for the Credit Cards of HDFC Bank, Axis Bank, SBI, RBL Bank, ICICI Bank, Yes Bank, IndusInd Bank, Bank of Baroda, Standard Chartered, Kotak Mahindra Bank, HSBC Bank
This credit card cash withdrawal feature allows credit cardholders to withdraw cash from ATMs. It doesn't require bank approval or additional documentation. However, it comes with fees and interest charges.
Calculating Credit Card Cash Withdrawal Charges : Overview
Key Points:
- Cash Limit: Part of the total credit limit, usually 20-40%.
- Cash Advance Fee: Typically 2.5%-3% of the withdrawn amount, subject to a minimum charge.
- Interest Rates: 2.5%-3.5% monthly, charged from the withdrawal date.
- Impact on Credit Score: No direct impact unless repayments are missed, which can lower credit scores.
Advantages:
- Instant cash access without approval.
- Flexible limits based on usage and repayment behavior.
Disadvantages:
- High fees and interest rates.
- No reward points or interest-free period for cash advances.
Understanding Credit Card Cash Withdrawal Minimum Charges
The minimum charge for a credit card cash withdrawal is the lowest fee that a bank will apply when you withdraw cash using a credit card, regardless of the amount withdrawn. For instance, if the cash advance fee is 2.5% of the withdrawn amount but the calculated fee is less than the minimum charge (e.g., Rs. 500), the bank will apply the minimum charge of Rs. 500. This ensures that the bank receives a baseline fee for the cash withdrawal service.
For example : If you withdraw 20,000 you are liable to pay Rs. 500 but if you withdraw 200, then also you are liable to pay Rs. 500 if it is the minimum amount set by the respective bank.