Know the HDFC Bank credit card cash withdrawal charges to plan for the repayment in advance!
Credit cards by HDFC Bank offer a quick and easy way to carry out online and offline transactions. In addition, you can make cash withdrawals from HDFC Bank credit cards. Opting for this facility gives you access to funds up to a certain percentage of your credit limit.
It is essential to remember that this facility comes with a cash withdrawal or cash advance fee, along with interest charges. This makes it essential to know the associate fees and charges and plan repayment better.
Refer to the following table to know the cash withdrawal charges on your HDFC Bank credit card:
Particulars |
Fee and Charges |
Credit card cash withdrawal fee |
2.5% of the amount or ₹500, whichever is higher. |
Disclaimer: Please note that all figures mentioned above are subject to change at the discretion of HDFC Bank.
Example:
You have an HDFC Bank credit card. You choose to withdraw a certain amount due to some personal emergency. Now, as the bank charges 2.5% or ₹500, whichever is higher, take a look at what the cash withdrawal fee calculation would look like for the following scenarios:
Scenario 1:
Withdrawn amount: ₹5000
Charges: 2.5%*5000=₹125
As the calculated value is lower than ₹500, you would pay ₹500 as the cash withdrawal charges.
Scenario 2:
Withdrawn amount: ₹75,000
Charges: 2.5%*75,000=₹1,875
Now, as the calculated value is higher than ₹500, you would pay the actual amount, i.e. ₹1,875 as the cash withdrawal charges.
HDFC Bank allows you to get funds conveniently using your credit card at any ATM. Follow these steps for HDFC Bank credit card cash withdrawal:
Go to your nearest ATM
Insert or swipe your HDFC Bank credit card into the slot
Select the ‘Cash Withdrawal’ option
Enter the amount you wish to withdraw
Enter your credit card PIN
Wait for the machine to process your amount
Collect the cash and your credit card
Note that some cards may require an OTP received on your registered mobile number to verify your transaction. This adds to the security of your credit card via two-factor authentication.
With the majority of credit cards, you can withdraw a fixed amount based on your existing credit card limit. For HDFC Bank credit cards, the cash withdrawal limit is 40% of your total credit card limit.
For example, if you have a credit limit of ₹80,000, you can make a cash advance of up to ₹32,000 using your card. You would have to use the remaining amount for transactions.
Apart from the cash withdrawal charges, the bank levies interest on the amount from the time when cash is withdrawn. Here are the details:
Particulars |
Fees and Charges |
Credit Card Cash Withdrawal Interest Rate |
Ranges from 1.99% to 3.75% per month |
Disclaimer: Please note that all figures mentioned above are subject to change at the discretion of the bank.
Here is the interest rate applicable for specific cards by the bank:
Credit Card Variant |
Interest Rate (p.m.) |
Interest Rate (p.a.) |
Infinia (Metal Edition), Infinia, BizBlack Metal Card, H.O.G Diners Club, Diners Black Metal Edition, Diners Black |
1.99% |
23.88% |
Other Credit Card Variants |
3.75% |
45% |
Disclaimer: The interest is to be paid in addition to the cash withdrawal charges. The bank may change these rates if and when mandated by RBI.
Charges applicable in case of default |
3.50% p.m. (Maximum) 42% p.a. |
Disclaimer: The interest rates are only indicative and subject to change at the discretion of the bank.
Here are some benefits and limitations associated with the facility of cash withdrawal with HDFC Bank credit cards:
Pros |
Cons |
|
|
About Credit Cards Services
- Apply for Credit Card
- Best Fuel Credit Card
- Business Credit Card
- Credit Card Settlement
- Corporate Credit Card
- Credit Card against Fixed Deposit
- Credit Card Documents
- Credit Card Eligibility Criteria
- Credit Card EMI
- Features & Benefits of Credit Card
- Interest Rate on Credit Card
- International Credit Card
- Credit Card Limit
- Credit Card Lounge Access
- Credit Card Netbanking
- Credit Card Bill
- Credit Card Pin Generation
- Credit Card Reward
- Shopping Credit Card
- Check Credit Card Statement
- Types of Credit Card
- Credit Card Billing Cycle
- Credit Card Meaning
- Best Credit Card In India
Credit Cards Partners at Bajaj Markets
Non Partners Credit Cards
Frequently Asked Questions
Are there any charges levied on HDFC Bank credit card cash withdrawals?
You need to pay a cash advance fee on each withdrawal transaction you carry out through your HDFC Bank credit card. This fee is 2.5% of your withdrawal amount or ₹500, whichever is higher. You will also need to pay interest on the total amount withdrawn.
Can I transfer money from an HDFC Bank credit card to a bank account?
No, you cannot make direct bank transfers using your credit card. However, you can add some money from your credit card account to a wallet and then transfer this amount. You can also withdraw cash using your credit card and deposit it into your bank account.
What is the charge if I withdraw cash from an HDFC Bank credit card?
You will need to pay a cash withdrawal fee of 2.5% of the amount you withdraw or ₹500, whichever is higher. You will also need to pay interest on the amount you withdraw from the date of the withdrawal. The rate of interest would vary depending on your credit card variant.
Can I withdraw money from an HDFC Bank credit card at any ATM?
Yes, you can make a credit card cash withdrawal using your HDFC Bank credit card at any ATM, provided the same is within the specified limit. This is subject to your eligibility for this facility.
What is a cash advance fee?
A cash advance fee, or a cash withdrawal fee, is a charge that the issuer levies when you make cash withdrawals using a credit card.
Are interest rates on cash advances higher than regular interest rates?
Yes, the interest you would pay for cash withdrawals would be typically higher than the interest application for the outstanding balance.
Explore
1/3
2/3
3/3
Popular Offer
