What Are The Icici Bank Credit Card Cash Withdrawal Charges

Banks let credit card holders withdraw cash with a cash advance. This facility allows them to withdraw cash using a credit card from an ATM. Like a majority of the banks, ICICI also offers the same functionality to its credit card holders. It offers a convenient and easy way to obtain quick cash in times of urgency.  

However, you need to understand that the cash advance facility comes at a charge. For every time you withdraw cash using your ICICI credit card, you’ll be charged a fee.  

Let’s understand these charges in detail. 

ICICI Credit Card Limit for Cash Withdrawal 

The ICICI Credit Card cash withdrawal limit is usually between 20% to 40% of your total credit limit. 

For example, if your credit limit is Rs. 2,00,000, you can withdraw between Rs. 40,000 to Rs. 80,000 as cash. 

Keep in mind that this limit can vary based on your credit card type and your credit history. 

ICICI Bank Credit Card - Charges for Cash Withdrawal  

You can withdraw cash from ATMs using your ICICI credit card, up to a certain limit. But, you'll pay a fee for this. ICICI Bank charges 2.5% to 3% of the sum you withdraw, with a minimum fee of Rs. 250-500. You pay these charges when you repay the loan. The bank also charges interest from the day you withdraw cash until you pay it back. 

Below is the table explaining the charges: 

Cash Advance Transaction Fee 

• All Cards: You pay a 2.5% fee on the cash you withdraw, with a minimum fee of Rs. 300. 

• Easy Deposit Card: There's no fee for withdrawing cash at ICICI Bank ATMs. 

• Cash Card: You pay a Rs. 151 fee for each cash withdrawal. 

Advantages of ICICI Cash Advance 

• You get cash right away. 

• It's helpful in emergencies. 

• You don't need the bank's approval. 

• You don't need any paperwork. 

• You can get cash from any ATM. 

• The more you can spend on your card, the more cash you can get. 

• If you don't spend all the cash, you can use the rest on your card. 

Disadvantages of ICICI Cash Advance 

• You pay a fee every time you get cash. 

• The interest is calculated from the day you withdraw the cash. 

• There's no interest-free period. 

• You don't earn rewards points. 

To Sum Up,  

While ICICI Bank's credit card cash advance feature offers quick access to funds, it comes with significant costs. High interest rates, cash advance fees, and the absence of an interest-free period make it an expensive option. It's advisable to use this facility only in genuine emergencies.