How Is Interest Calculated From A Cash Withdrawal From A Credit Card

Withdrawing money from ATMs using your credit card could be quite expensive. Different banks levy different amount for the money withdrawal. But generally, you will be charged up to 3% of the amount withdrawn or maximum of up to 350 per transaction. 

Moreover, the interest is charged from the day you withdraw the cash and it does not get interest free period unlike other transactions on your credit card. If you fail to pay the amount on your next monthly bill cycle, the interest rate just keeps on adding which eventually could become a debt burden.