Yes, the SBI Credit Card can be used to withdraw cash from an ATM during emergencies. It is instant cash and can be used for any personal needs. This prevents the waiting time on personal loans or other kinds of loans. You can just walk into any SBI ATM, insert your credit card, and take out the cash. 

Here are some important things to keep in mind when you decide to withdraw cash using your credit card.

Credit Limit and Cash Advance Limit: 

  • Credit Limit: The maximum amount that you can spend using your credit card is known as the credit limit. The bank decides your credit limit depending on your eligibility. 
  • Cash Advance Cap:Defined as the utmost sum available for withdrawal in cash via your credit card, the cash advance limit sets boundaries on such transactions. Typically, credit cards extend a cash advance limit of up to 80% of your overall credit line, or a maximum of ₹15,000 per day, facilitating financial flexibility within specified parameters. 

 Withdrawal Charges:

  • Domestic Cash Withdrawal: 2.5% or Rs. 500 (Whichever is higher).
  •  International Cash Withdrawal: 2.5% or Rs. 500 (whichever is higher)

Service charges: 

Monthly and annual charges: 3.5% per month and 42% per annum, respectively on these withdrawals, starting from the date you withdrew the cash from the ATM to the date of settlement or repayment of complete amo