Axis Bank Credit Card Cash Withdrawal Charges & Limit

Credit card cash withdrawal or cash advance is a facility provided by banks for their credit cardholders to give them access to cash withdrawal using their credit cards during times of crisis.

You can use your Axis Bank credit card for cash withdrawals just like a debit card from an ATM kiosk. The cash withdrawal feature of Axis Bank credit cards can be of great benefit, especially during emergencies. However, Axis Bank levies a limit for withdrawing cash with your credit card from an ATM.

Usually, this limit is 40% of your total available credit limit. However, if your card is not older than 180 days, the withdrawal limit could be zero. To know your card’s current cash withdrawal limit, you can check your Axis Bank credit card statement or contact the Axis Bank customer care department.

The bank levies charges on using the cash advance facility, which is commonly known as the finance charges. These charges may differ according to the variant of credit card you opt for.

Let us take a look at this facility, its benefits, and the charges involved.

Axis Bank Credit Card Cash Withdrawal Limit

Axis Bank sets different cash withdrawal limits for different credit cards. The limit is communicated to the cardholder at the time of card delivery. Also, the cash limit can be zero for a few Axis Bank credit cards for the first 180 days from the date of issuance. After that, the cardholder can avail the cash advance facility.

Axis Bank Credit Card Cash Withdrawal Charges

Axis Bank, like other banks in India, levies a cash advance or cash withdrawal fee. This is a transaction fee that you need to pay every time you withdraw cash using your Axis credit card. This fee is added to your credit card bill in the following statement.

Axis Bank charges a cash withdrawal fee of 2.5% of the cash amount (subject to a minimum of Rs. 500) + GST. For instance, if you withdraw Rs. 20,000 using your Axis Bank credit card, you will have to pay Rs. 500 as the cash advance fee in your next billing cycle. Axis Bank holds the right to change the cash advance charges at any time.

Cash advances also attract finance charges from the date of cash withdrawal using the credit card till it is fully repaid.

Axis Bank Cash Advance Interest Charges

When Axis Bank cardholders avail of the cash advance facility, the bank levies a finance charge, which is the interest that they have to pay on a monthly rate from the date of withdrawal till the amount is fully repaid. Finance charges for Axis Bank credit cards range from 41.75% to 52.86% p.a., depending on the credit card variant. You can check the finance charges of a card before applying for it.

Following are the cash advance fees and finance charges applicable on different Axis Bank credit card types:

How to Withdraw Cash from Axis Bank Credit Card?

Axis Bank credit cardholders can withdraw cash at any of the ATMs and not specifically from Axis Bank ATMs. Withdrawing cash from ATMs using a credit card is similar to a debit card. Follow the steps given below to get cash from your Axis Bank credit card:

• Go to a nearby ATM and insert your Axis Bank credit card into the slot.
• Then select your preferred language from the options listed on the screen.
• Select the option of ‘cash withdrawal’ next.
• You will need to enter the amount you wish to withdraw.
• Tap on ‘Enter’.
• Type the PIN of your credit card.
• Cash will be dispensed from the ATM.

Benefits of Axis Bank Cash Advance Facility:

• No approval is needed from the bank to withdraw cash.
• The documentation process to avail of this facility is simple and convenient.
• Cash withdrawal is easy and helpful during times of emergency and to pay at places that don’t accept card transactions.
• Cash can be withdrawn from any ATM located in the country or outside.

Disadvantages of Axis Bank Cash Advance Facility:

• No reward points can be earned while using this facility.
• There is no interest-free period.
• Cardholders have to pay a fee every time they withdraw cash using their credit card.
• An interest is also levied from the date of withdrawal of the cash.
• The interest charged is always more than regular card transactions.