SBI Credit Card Cash Withdrawal Charges – How to Withdraw Cash From SBI Credit Card?

Withdrawing cash using your SBI credit card is simple—just insert your card at an ATM, select the ‘Cash Withdrawal’ option, and enter your PIN and amount. The withdrawn cash is instantly disbursed, but finance charges and withdrawal fees apply from the date of transaction. 

Knowing how to withdraw cash from SBI credit card and the applicable credit card cash withdrawal charges SBI applies can help you avoid high fees and manage repayments better. Here’s a quick look at the key SBI credit card cash withdrawal charges:

Understanding SBI credit card cash withdrawal charges, interest rates, and cash limits is essential before using your card for urgent cash needs. 

SBI Cash Advance Fees And Charges

When you use an SBI credit card to withdraw cash from an ATM, multiple charges apply that go beyond the basic withdrawal fee. These fees are termed as cash advance fees and include:

• Cash Advance Fee: SBI charges 2.5% of the withdrawal amount or a flat Rs. 500, whichever is higher. This fee is levied every time you use your SBI credit card for a cash withdrawal, whether domestic or international.
• Finance Charges: Interest is charged from the date of cash withdrawal until the amount is fully repaid. The rate is up to 3.75% per month (45% p.a.) for regular cards and 2.75% per month (33% p.a.) for select cards like Defence and Shaurya cards.
• No Interest-Free Period: Unlike regular purchases, cash advances do not come with any grace period. Interest accrues immediately.
• Cash Advance Limit: You can withdraw up to 80% of your credit limit. However, daily withdrawal limits apply based on card type. For instance, Elite or Prime cardholders can withdraw up to Rs. 15,000 per day, while others may have lower limits.
• Minimum Finance Charge: SBI levies a minimum charge of Rs. 25 per transaction to cover processing costs.
• Cash Payment Charges: If you repay the withdrawn amount through cash at an SBI branch, a fee of Rs. 250 is added to your bill.

These charges can add up quickly, especially if the withdrawn amount is not repaid promptly. It’s advisable to use this facility only in urgent situations and to clear the dues as soon as possible to avoid hefty interest.

SBI Credit Card Cash Withdrawal Charges 

SBI credit card withdrawal charge is a one-time fee applicable every time SBI credit cardholders withdraw cash from an ATM. The withdrawal fee is also referred to as a cash advance fee. Generally, it's a particular percentage of the total cash withdrawn. The fee gets automatically added to their credit card bill for the next cycle. 

When it comes to SBI credit cards, it’s 2.5% of the cash amount withdrawn or Rs. 500, whichever amount is higher. For example, suppose you withdraw Rs.30,000 from an ATM. The cash withdrawal fee would be Rs.750. However, if you withdraw only Rs.10,000, the withdrawal fee would be Rs.500 as 2.5% of 10,000 is Rs.250 only. 

SBI Credit Card Cash Withdrawal Interest Rate 

SBI levies finance or service charges for cash withdrawals from SBI credit cards. The finance charges are the interest rates that you must pay if you avail of the cash advance facility with SBI credit cards. The interest rates on credit card cash withdrawals will be applicable at a monthly rate of up to 3.50% or 42% per annum on all transactions from the day when one has used the credit card to withdraw the cash to the day when the amount has been repaid.

The interest rates are 3.50% per month or 42% per annum for unsecured cards and 2.75% per month or 33% per annum for Defence, Shaurya and secured cards.

SBI Credit Card Cash Withdrawal Charges Calculator 

The SBI bank charges 2.5% of the transaction amount or Rs. 500, whichever is higher, as SBI credit card cash withdrawal charges. 

Let's consider a simple example to understand how this charge affects your cash withdrawal amount and repayment. 

For instance, if you withdraw Rs. 20,000 using an SBI credit card cash advance, the bank will levy a cash advance fee plus interest or finance charge on this amount from the day of withdrawal until you complete the repayment. 

SBI Bank charges a monthly interest rate of 3.50% per month for unsecured credit cards. This means your payable amount after accumulating monthly interest rate and cash advance charges will become approximately Rs. 21,200. 

SBI Credit Card Cash Withdrawal Limit

The total amount of cash that a cardholder can withdraw using their credit card is known as the credit card cash withdrawal limit. Generally, it is a percentage of the total credit limit available on the credit card in question. 

An important factor you need to keep in mind is that both credit limit and cash withdrawal limit get assigned to credit cardholders depending on their SBICPSL (SBI Cards and Payments Services Private Limited) credit criteria. Moreover, add-on cardholders and primary account holders share the same credit card limit. People get to know of these limits when they get their credit cards delivered. 

Every credit card statement contains the credit limit and cash limits for people to keep proper track. SBICPCL undertakes a periodic review of the cardholder’s accounts. This entity, may further, increase or decrease the credit limit of the cardholder depending on their internal criteria.

Usually, SBI provides a credit cash withdrawal limit of up to 80% of the credit limit. Gold and Titanium credit cardholders can withdraw a maximum of Rs. 12,000 per day, and Prime, Platinum, Aurum, Elite and co-brand cardholders can withdraw a maximum of Rs. 15,000 per day. 

The cardholder can increase the credit card cash withdrawal limit by writing to the SBICPCL and attaching every relevant financial document supporting their income. Once the financial entity feels satisfied with the analysis of the new documents, they will increase the credit card limit.

SBI Credit Card Annual Fee 

SBI customers can choose from a wide range of credit card options, including premium category and entry-level cards. All of these SBI credit cards have an annual or renewal fee which depends on the card type. Generally, SBI waives off certain charges if cardholders fulfil certain terms and conditions. 

The below table provides the annual fees for different types of SBI credit cards:

How to Withdraw Cash Using an SBI Credit Card?

Follow these steps to withdraw cash from an ATM using SBI credit card: 

• Visit any ATM that accepts credit cards.
• Insert your SBI credit card into the ATM.
• Select your preferred language.
• Choose the 'Credit' option when prompted for the account type.
• Enter the amount you wish to withdraw, ensuring it is within your cash advance limit.
• Enter your 4-digit credit card PIN to authenticate the transaction.
• Collect your cash and the transaction receipt.

Note: Interest charges apply from the date of withdrawal until the amount is fully repaid.

SBI Credit Card Late Payment Charges 

If a cardholder fails to pay the minimum amount which is due, late payment charges will be applicable as follows:

If you fail to pay the Minimum Amount Due (MAD) for two consecutive cycles, an additional Rs. 100 late payment fee applies. Unless the MAD is paid, the late payment charge will continue to apply.  

There are also some other key charges that you must know:

• Card Replacement Fee: Ranges from Rs. 100 to Rs. 250, depending on the card type.
• Foreign Currency Transaction Fee: 3.5% of the transaction amount for most cards.
• Overlimit Fee: 2.5% of the overlimit amount or a minimum of Rs. 600, whichever is higher.

SBI Credit Card Benefits 

Check out the benefits of SBI credit cards: 

• Lower Interest Option 

You can take the outstanding balances of your other credit cards and transfer them to your SBI credit card at much lower interest rates. Apart from that, you can also convert your transactions to easy and flexible EMIs (Equated Monthly Instalments). It is an important feature that can help you to save more money and build an emergency corpus. 

• Contactless payments 

Making contactless payments has never been easier. With SBI credit cards, you can make safe and easy payments with simply a tap of your card. 

• Easy Access Channels 

You can use SBI credit card account anytime and anywhere. You can download the SBI Card mobile app or remain updated with Simply SMS. 

• The Facility of 'Encash'

You can access cash on the go to fulfil all of your financial needs with an SBI credit card. You can avail of the 'encash' facility up to or above the credit limit and get the money transferred to your account within 48 hours. 

• Money Simplified 

The steps involved in withdrawing cash are simple. With SBI credit cards, you can withdraw cash instantly during times of need. 

• Easier Payment of Utility Bills 

You will be able to access features like Auto Pay, Register, and Pay and Pay Fast. It will help you to pay off your utility bills easily. 

• Insurance 

You can use your SBI credit card to start an insurance coverage as well. You can choose from three different types of insurance coverage. You can easily deal with accidents, health issues, card theft, and loss if you have an appropriate insurance cover. 

When you apply for a credit card at the State Bank of India, you must not forget to check the SBI credit card cash withdrawal charges. While you can always make cash withdrawals with your credit cards during emergencies, having a clear idea about the different charges and fees will help you plan for your finances better. 

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