IndusInd Credit Card Cash Withdrawal

IndusInd Credit Card Cash Withdrawal Limit

The cash withdrawal limit on IndusInd Bank credit cards differs from one cardholder to another depending on the type of card they own and the assigned credit limit. IndusInd Bank sets the maximum cash withdrawal limit on your credit card. Get in touch with IndusInd Bank credit card customer care to know your available cash withdrawal limit or check your recent credit card statement.

Interest charges on IndusInd Credit Card Cash Withdrawal

If you are using your IndusInd credit card for regular purchases, the rate of interest is charged only after the due date. This gives you a grace period to pay your credit card bill. However, in case of cash withdrawals, you will have to pay interest from the day you take out the money until it is fully repaid. The rate of interest is usually between 2.5% and 3.5% per month on the withdrawn amount, with a minimum of Rs. 250 to Rs. 300.

Reward Points Policy on IndusInd Bank Credit Card Cash Withdrawals

Though IndusInd Bank has an excellent loyalty program for their credit cardholders, it is not applicable on credit card cash withdrawal transactions. You are not eligible to receive reward points for your cash advances. This is mainly because withdrawing cash using your credit card is not recommended and the bank does not encourage their credit cardholders to use the cash withdrawal facility until they are in a financial crisis and do not have any other alternatives.

How to Withdraw Cash Using an IndusInd Credit Card?

The procedure to withdraw cash using your IndusInd Bank credit card is similar to withdrawing cash using a debit card. You can withdraw cash using your IndusInd Bank credit card at any ATM. To withdraw cash using your credit card, follow the below steps:

1. Visit any bank's ATM preferably IndusInd Bank ATM
2. Insert your IndusInd credit card in the slot provided
3. Enter your credit card PIN
4. Select your preferred language to proceed
5. Choose "Cash Withdrawal" option
6. Enter the amount you wish to withdraw and confirm the transaction
7. The money will be dispensed

IndusInd Cash Withdrawal Fees and Charges

Pros and Cons of IndusInd Credit Card Cash Withdrawal Facility

It is very important to know about the pros and cons of the cash withdrawal facility offered by IndusInd Bank to their credit cardholders as it helps make better financial decisions.

Benefits of IndusInd Credit Card Cash Withdrawal Charges Facility

1. The cash withdrawal facility helps IndusInd credit cardholders during a financial crisis. Instead of availing a personal loan with a high rate of interest, cardholders can withdraw cash using their credit card and repay it in full within the due day.
2. Cardholders do not have to submit any documents to withdraw cash using their IndusInd credit card.
3. As the cash withdrawal facility is pre-approved by IndusInd Bank, cardholders do not have to wait for the bank's approval to withdraw cash.
4. Cardholders can withdraw cash anytime and from anywhere. This facility is not time-consuming.
5. Cash can be withdrawn at both IndusInd Bank ATM and non-IndusInd Bank ATM.
6. Cardholders can use this facility to withdraw cash even in an international location. However, if the cardholders choose to withdraw cash from an international ATM, a higher cash advance fee might be levied.

Drawbacks of IndusInd Credit Card Cash Withdrawal Charges

1. Cash advance fee will be charged for every cash withdrawal made by the cardholder.
2. Apart from the cash advance fee, an interest rate will be charged from the date of the transaction until the amount is paid in full.
3. There is no interest-free period for cash withdrawals. It has to be paid within the due date.
4. A cash withdrawal transaction attracts a high rate of interest compared to other credit card transactions.
5. Overusing the cash withdrawal facility might push a cardholder to fall into the debt trap.

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