IndusInd Credit Card Cash Withdrawal

Most IndusInd Bank credit cards offer a cash withdrawal feature, that allows you to withdraw cash from any ATM using your credit card. The process is similar to withdrawing cash with a debit card. But it comes with higher interest rates and other associated fees. So, you should only use this facility in case of financial emergency when no other options are available.

What is the IndusInd Credit Card Cash Withdrawal Feature

IndusInd Bank offers its credit cardholders the ability to withdraw cash up to a specified limit. This cash withdrawal limit is typically lower than the overall credit limit on the card, and it’s important to understand the distinction between the two.

When you withdraw cash using your credit card, the total outstanding balance—including your purchases, cash withdrawals, and any fees—cannot exceed your overall credit limit.

The cash withdrawal limit is generally around 20-40% of the total credit limit. Your available cash limit at any time is the difference between the total cash limit granted and the outstanding cash balance on your card. Both your available credit and cash limits may vary based on the cardholder and are reflected in your monthly credit card statement.

How to Withdraw Cash Using an IndusInd Credit Card?

Withdrawing cash from your IndusInd credit card is easy and similar to using a debit card. Follow these steps:

  1. Visit any ATM (preferably an IndusInd Bank ATM).
  2. Insert your IndusInd credit card into the ATM slot.
  3. Enter your credit card PIN.
  4. Select your preferred language to continue.
  5. Choose the "Cash Withdrawal" option.
  6. Enter the amount you wish to withdraw and confirm the transaction.
  7. The cash will be dispensed, and the transaction will be completed.

IndusInd Credit Card Cash Withdrawal Fee

When you use your IndusInd credit card for cash withdrawals, a cash advance fee is charged. Currently, the fee is:

  • 2.5% of the total cash withdrawn (with a minimum fee of ₹360).
  • IndusInd Legend Credit Card holders enjoy no cash advance fee which makes it a great option for those who frequently use the cash withdrawal feature.

IndusInd Credit Card Cash Withdrawal Limit

The cash withdrawal limit on IndusInd Bank credit cards varies based on factors like the type of card you hold and the credit limit assigned to you. IndusInd Bank determines this limit, and it’s typically a smaller percentage of your total credit limit.

To find out your exact cash withdrawal limit, you can either contact IndusInd Bank's customer care or check your recent credit card statement for details.

IndusInd Credit Card Cash Withdrawal Fees and Charges:

Charge Amount
Cash Advance Fee 2.5% of the amount withdrawn (minimum ₹360). This fee is waived off for IndusInd Legend Credit Card holders.
Interest-Free Period (Grace Period) Up to 50 days, but not applicable on cash advances or if the previous outstanding balance is not cleared in full.
Finance Charges (Revolving Credit) 3.83% monthly (46% annually).

Pros and Cons of IndusInd Credit Card Cash Withdrawal

Pros of IndusInd Credit Card Cash Withdrawal Facility

  1. Emergency Use: Provides quick access to cash in times of financial need, offering a better option than a personal loan with high interest.
  2. Pre-Approved Facility: The cash withdrawal option is pre-approved, so cardholders don’t need prior approval to access funds.
  3. No Documentation Required: Withdrawals do not require submission of any documents.
  4. International Accessibility: Cash can be withdrawn internationally, although higher fees may apply at foreign ATMs.
  5. Convenience: Withdraw cash anytime, anywhere—from both IndusInd Bank and non-IndusInd Bank ATMs.

Cons of IndusInd Credit Card Cash Withdrawal Facility:

  1. Cash Advance Fee: A fee of 2.5% applies for every cash withdrawal, with a minimum of ₹360.
  2. High Interest Rates: The interest rate on cash withdrawals is significantly higher than regular purchases, which may add up quickly.
  3. No Interest-Free Period: Cash withdrawals do not have an interest-free grace period and will begin accruing interest immediately.
  4. Risk of Debt Trap: Frequent use of the cash withdrawal facility could lead to excessive debt, especially due to high interest rates and fees.
IndusInd Bank Credit Cards

FAQs

IndusInd Bank offers a cardless cash withdrawal service that allows you to withdraw money from ATMs without a debit card. To use this service, log in to your IndusInd Bank mobile banking app, select the 'Cardless Cash Withdrawal' option, and follow the instructions to generate a one-time PIN. Visit any IndusInd Bank ATM, enter the generated PIN, and withdraw the desired amount. This service provides a secure and convenient way to access cash without a physical card.

Withdrawing cash without a debit card offers several advantages:

  • Enhanced Security: Eliminates the risk of card theft or loss.
  • Convenience: Access cash even if you forget or misplace your debit card.
  • Accessibility: Use the service from anywhere using your mobile banking app.

Yes, there are limits on cardless cash withdrawals. The maximum amount you can withdraw per transaction is ₹10,000, in line with existing daily UPI limits and individual bank policies. This limit ensures secure transactions and aligns with standard banking practices.

IndusInd Bank does not charge any fees for cardless cash withdrawals. This service is provided free of charge, offering a cost-effective way to access cash when needed.

With an IndusInd Bank credit card, you can withdraw cash, but there are limits and fees. You can usually withdraw 20-40% of your credit limit. A fee of 2.5-3% of the amount (minimum ₹250-₹500) applies. High interest is charged from the withdrawal date. Due to these costs, it's best to use cash advances minimally and repay them quickly.

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