HDFC Credit Card Cash Withdrawal Charges – How To Withdraw Cash With HDFC Credit Card?

In case of a financial emergency, you might need to withdraw cash using your HDFC credit card at an ATM. It’s essential to be aware of the HDFC credit card charges for cash withdrawals. This article highlights the key charges associated with credit card cash withdrawals, helping you manage your expenses efficiently.

HDFC Credit Card Cash Limit

The credit card cash limit for HDFC Bank refers to the maximum amount you can withdraw using your credit card. This cash limit is a portion of your total available credit limit, not an addition to it. Typically, it’s set as a percentage of the total credit limit.

For example, if your credit limit is Rs. 1 lakh, the cash limit could be 20% or 40%. If the cash limit is 20%, you can withdraw Rs. 20,000 as cash, and the remaining credit is available for transactions.

Generally, HDFC Bank provides a credit card cash limit of 40% on most of its credit cards. 

HDFC Credit Card Cash Withdrawal Fees and Charges

Using your HDFC Bank credit card for cash withdrawals is not free. The bank charges a cash advance fee for each transaction, which is added to your credit card statement the following month.

HDFC Bank imposes a 2.5% fee on the withdrawn amount or Rs. 500, whichever is higher. For example, if you withdraw Rs. 50,000, the fee would be Rs. 1,250 (2.5% of Rs. 50,000). However, if you withdraw Rs. 6,000, the fee would be Rs. 500, as 2.5% of Rs. 6,000 is lower than Rs. 500.

Please note that these charges apply from the withdrawal date to the settlement date and are subject to change at any time. 

HDFC Credit Card Cash Withdrawal Interest Rate 

In addition to the cash withdrawal fees, you will also incur an interest rate on HDFC Bank’s credit card cash withdrawals. This interest is charged separately and should be paid along with the cash advance fee on your next credit card statement. 

The following table depicts interest rates applicable for HDFC Bank’s credit card cash withdrawals:

How is the HDFC Credit Card Interest Rate Calculated?

How to Withdraw Cash Using an HDFC Credit Card?

Withdrawing cash using your HDFC Bank credit card is simple and similar to using a debit card. Just visit the nearest ATM, insert your credit card, and follow the on-screen instructions to complete the withdrawal. 

Remember these points while withdrawing cash using an HDFC credit card: 

• You can withdraw cash from any ATM using your credit card. While using one of your credit card issuing bank’s network ATMs will be quite helpful, it is not mandatory. 
• Banks may levy additional charges if you withdraw cash from another bank’s ATM. 
• Before you withdraw cash using your credit card, you must be aware of the cash withdrawal limit on that card. This will help you to prevent over-usage of credit for cash withdrawals. 
• If you end up withdrawing cash above your credit card cash limit, you may have to pay additional charges than what is already levied. 
• If you do not repay the withdrawn amount within time, late payment charges will be levied on the outstanding balance, ranging anywhere from 15% to 30%.

HDFC Credit Card Cash Withdrawal Limit From ATM

HDFC Bank allows five free ATM transactions per month, depending on the location. Beyond this limit, an ATM maintenance or interchange fee of Rs. 17 per cash withdrawal applies. For non-cash transactions, a fee of Rs. 6 is charged. These fees are exclusive of taxes and will be added to your credit card statement.

Pros and Cons of HDFC Cash Advance Facility

It's time to look at the benefits and limitations of HDFC Bank’s cash advance facility: 

Benefits 

• HDFC Bank credit cardholders can withdraw liquid cash during their financial emergencies. They can also opt for cash withdrawals when credit card payments are not allowed for a particular transaction. 
• There is no need to pay any charges if you have not used the cash advance facility. 
• No approval from the bank is required. 
• No documents are required. 
• You don’t have to wait long as you can access funds instantly 24x7. 
• You can withdraw cash from any ATM at your convenience. The ATM can be located either inside or outside the country. 

Limitations 

• You’ll have to pay a cash advance fee for every cash withdrawal. 
• Interest rates will be applicable from the withdrawal date itself, increasing the amount payable. 
• The cash advance facility is not applicable for reward points. 
• There is a higher applicable interest rate in this case than regular card transactions. 

Conclusion

Understanding the HDFC credit card charges for cash withdrawals can help you manage your finances better. While most people avoid using credit cards for cash withdrawals, knowing the charges can be crucial in financial emergencies. 

In such situations, instant access to funds via your credit card can be a lifesaver, allowing you to pay for urgent expenses effectively.

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