The Axis Bank Neo Credit Card cash withdrawal limit plays a crucial role when using your card for ATM withdrawals. Typically, the bank allows withdrawals of 20% to 40% of your total credit limit. However, the exact limit varies based on factors like your credit history, spending patterns, and repayment behaviour.
Understanding the Axis Bank Neo Credit Card cash withdrawal limit is essential to avoid hefty charges and high interest rates on cash advances. Exceeding the permitted withdrawal limit may also result in over-limit penalties, adding to your financial burden.
To help you manage your finances wisely, this guide covers everything you need to know about the Axis Bank Neo Credit Card cash withdrawal limit—including applicable fees, interest rates, and smart tips to steer clear of unnecessary costs.
Table of contents
- Axis Bank Neo Credit Card Cash Withdrawal Limits
- Charges on Axis Bank Neo Credit Card Cash Withdrawals
- Charges for Exceeding Axis Bank Neo Credit Card Cash Withdrawal Limit
- How to Increase Axis Bank Neo Credit Card Cash Withdrawal Limits?
- Pros and Cons of Using Axis Bank Credit Cards for Cash Withdrawals
- Factors Affecting Axis Bank Neo Credit Card Cash Withdrawal Limits
- FAQs
Axis Bank Neo Credit Card Cash Withdrawal Limits
Axis Bank Neo Credit Card cash withdrawal limit is the percentage of your total credit limit, set by the bank. For Neo Credit Cards, it is usually up to 30% to 40% of your total credit limit.
It means that-
- If your credit limit is INR 1,00,000, you can withdraw up to INR 30,000 to 40,000 as cash.
- If your credit limit is INR 75,000, then the maximum cash withdrawal amount will be INR 30,000.
To find the current limit on your card, check your card statement or contact Axis Bank customer care. You can contact the bank’s customer service team by calling their toll-free number (1860-419-5555 or 1860-500-5555).
Charges on Axis Bank Neo Credit Card Cash Withdrawals
Every cash withdrawal using the Axis Bank Neo Credit Card incurs a fee of 2.5% of the withdrawn amount. If you fail to pay your total due amount on time, you’ll be charged a late payment fee based on the outstanding balance.
Besides, bank cash withdrawal limits attract other charges like cash advance fees and finance charges and typically does not earn rewards.
To avoid adding financial burden, check out the list of charges on Axis Bank Neo Credit Card Cash Withdrawals-
| Charges | Amount |
| Finance Charges | 3.75% per month (55.55% per annum) |
| Cash Withdrawal Fees | 2.5% of the cash amount (Minimum INR 500) |
| Overdue Penalty or Late Payment Fees | – If the total payment due is less than INR 500- NIL – If the total payment due is between INR 501 to 5,000- INR 500 – If the total payment due is between INR 5,001 to 10,000- INR 750 – If the total payment due is more than INR 10,000- INR 1,200 |
| Foreign Currency Transaction Fees | 3.5% of the transaction value |
| Dynamic Currency Conversion Fees | 1.5% + taxes for each international transaction performed in INR at international ATMs |
Here are some key takeaways from this section-
- Cash withdrawals are expensive due to high interest and withdrawal fees.
- Interest applies immediately, unlike regular credit card purchases that have an interest-free period.
- Pay your dues on time to avoid hefty late payment penalties.
To minimize extra charges, it’s best to avoid cash withdrawals on your Axis Bank Neo Credit Card unless necessary.
Also Read: This blog includes the details about the Zero Forex Markup Credit Cards. Know more about credit cards here that do not have any Forex fees.
Charges for Exceeding Axis Bank Neo Credit Card Cash Withdrawal Limit
If you withdraw more than the allowed Axis Bank Neo Credit Card cash withdrawal limit, you will be charged an over-limit penalty of 2.5% on the exceeded amount. The minimum penalty is INR 500, meaning even a small over-limit withdrawal can result in a significant fee.
Check out how this works-
- Suppose your cash withdrawal limit is INR 10,000, but you withdraw INR 12,000.
- The extra INR 2,000 over the limit will attract an over-limit penalty of 2.5%, which amounts to INR 50, however, a minimum charge of INR 500 will apply here.
Here’s how to avoid over-limit charges on Axis Bank Neo Credit Card cash withdrawal limits-
- Check Your Cash Withdrawal Limit: Before withdrawing cash, verify your available limit through Axis Bank’s mobile app, net banking, or customer support.
- Plan Withdrawals Wisely: If you need more cash than your credit card allows, consider alternatives like personal loans or balance transfers, which often have lower interest rates.
- Repay Dues on Time: Exceeding limits can affect your credit score, making it harder to get credit in the future. Always pay off your outstanding balance quickly.
To avoid unnecessary fees and penalties, always stay within your Axis Bank Neo Credit Card cash withdrawal limit.
You can explore other financing options if you need extra funds. This includes requesting an increase for your Axis Bank Neo Credit Card Cash withdrawal limits.
How to Increase Axis Bank Neo Credit Card Cash Withdrawal Limits?
Eligible cardholders automatically receive increased limit offers via mobile number or SMS, based on their spending pattern and risk behaviour. However, you can also manually request an increase for higher Axis Bank Neo Credit Card cash withdrawal limits.
To increase your Axis Bank Neo Credit Card cash withdrawal limits, check out the steps below-
Meet Eligibility Criteria
You need to ensure that you meet Axis Bank’s internal guidelines for a credit limit increase-
- Your credit card should be active and at least three months old.
- No payment delays or defaults on your card history.
- No limit enhancement, decrease, or Instant Loan availed in the last six months.
- PAN details should be updated with Axis Bank.
Contact Axis Bank for a Request
- SMS CLE XXXX (last 4 digits of card number) to 5676782 from your registered mobile number.
- Call Axis Bank toll-free number 1860-419-5555 or 1860-500-5555.
Submit Income Documents
Depending on your employment type, you need to provide the following:
(A) Salaried Individuals:
- If you have a salary account in Axis Bank, provide your Axis Bank Salary Account Number.
- If your salary is credited to another bank, submit the last 2 months’ salary slips.
(B) Self-Employed Individuals:
- Electronically filed ITR – Latest Financial Year ITR with total income computation (preferably last 2 years).
- Manual ITR – Latest Financial Year ITR, along with Profit & Loss Statement and Balance Sheet (preferably last 2 years).
- Ensure the Aadhaar card number is masked in your ITR.
Approval & Limit Enhancement
Once documents are reviewed and verified, the credit limit enhancement request will be processed as per Axis Bank’s internal risk policy.
If approved, your new credit limit will reflect on your card within 3 working days, increasing your cash withdrawal limit accordingly.
Also Read: Learn about PayPass International Debit Cards for quick and secure transactions. Explore best banks, charges, usage, and more.
Pros and Cons of Using Axis Bank Credit Cards for Cash Withdrawals
Using your Axis Bank Neo Credit Card for cash withdrawals can be a quick solution in urgent situations, but it comes with significant drawbacks. Below is a balanced look at when it’s beneficial and when you should avoid it.
Pros of Credit Card Cash Withdrawals
- Instant Access to Cash – You can withdraw money anytime from an ATM without needing a debit card or bank account balance.
- No Approval Process – Unlike personal loans, you don’t need approval or paperwork. You can withdraw up to your set limit instantly.
- Helpful in Emergencies – If you’re in a situation where digital payments aren’t accepted or need immediate cash, this option can be useful.
- Widely Available – You can withdraw cash within the Axis Bank cash withdrawal limits via ATMs worldwide, making it a convenient option when travelling abroad.
Cons of Credit Card Cash Withdrawals
- High-Interest Rates – Unlike regular credit card transactions, which have an interest-free period, cash withdrawals attract finance charges of 3.75% per month (55.55% per annum) from day one.
- Withdrawal Fees – Every transaction incurs a 2.5% fee (minimum INR 500), making small withdrawals expensive.
- No Reward Points or Cashback – Unlike purchases, cash withdrawals do not earn any rewards, making them an inefficient use of your credit card.
- Impacts on Credit Score – Frequent withdrawals indicate poor financial planning and can lower your credit score over time.
- Over-Limit Penalties – Withdrawing more than your allowed cash limit results in an over-limit fee of 2.5% on the exceeded amount (minimum INR 500).
Factors Affecting Axis Bank Neo Credit Card Cash Withdrawal Limits
The cash withdrawal limit on your Axis Bank Neo Credit Card isn’t fixed—it varies based on multiple factors. While the bank typically allows cash withdrawals of 20% to 40% of your total credit limit, your exact limit is determined by the following factors:
Total Credit Limit
Your overall credit limit plays a crucial role in determining how much cash you can withdraw. The higher your total credit limit, the higher your cash withdrawal limit.
For example: If your total credit limit is INR 1,00,000, your cash withdrawal limit could be INR 30,000 to INR 40,000, depending on bank policies.
Credit History & Payment Behavior
Your credit score, repayment history, and financial discipline directly impact your cash withdrawal limit. If you consistently pay your dues on time and maintain a good credit score, you may qualify for a higher limit.
- Good Credit Behavior: Timely payments, low credit utilization, and responsible credit usage can lead to higher cash withdrawal limits.
- Poor Credit Behavior: Late payments, frequent over-limit usage, or missed dues may result in a lower cash withdrawal limit or restrictions.
Card Usage & Spending Patterns
Your Axis Bank Neo Credit Card’s withdrawal limit can be influenced by your spending habits and transaction history.
- High Card Usage & Responsible Repayment: If you use your card frequently and clear your bills on time, Axis Bank may allow a higher cash withdrawal limit.
- Irregular Usage or Low Spending: If you rarely use your card or make only minimal transactions, your cash withdrawal limit may remain low.
Duration of Credit Card Ownership
The age of your credit card also affects your cash withdrawal limit.
- New Cardholders: If your credit card is recently issued (less than 3 months old), the bank may impose lower withdrawal limits until you establish a good repayment record.
- Long-Term Cardholders: If you’ve used your card responsibly for a significant period, you may qualify for a higher withdrawal limit.
Recent Limit Enhancements or Reductions
Axis Bank evaluates your withdrawal limit based on any recent credit limit changes.
- If you’ve recently increased your credit limit, your cash withdrawal limit may also rise.
- If you’ve availed of an Instant Loan or requested a limit reduction, the withdrawal limit may be restricted.
PAN Card & KYC Compliance
Your PAN details and KYC verification must be up to date. If your PAN is not linked to your credit card, you may face restrictions on cash withdrawals.
Tip: Ensure your PAN and other KYC details are updated in Axis Bank’s records to avoid any withdrawal limitations.
Axis Bank’s Internal Risk Assessment
Banks evaluate each cardholder’s risk profile before setting cash withdrawal limits. Axis Bank uses internal algorithms to assess:
- Credit utilization trends
- Debt-to-income ratio
- Past defaults or over-limit usage
If you’re categorized as a low-risk borrower, you may enjoy a higher withdrawal limit. High-risk customers may face stricter limits or restrictions.
This was all about the Axis Bank Neo Credit Card cash withdrawal limits. It’s important to note that these fees can change at the discretion of the bank. Contact Axis Bank or check your card statement for current limits and charges.
FAQs
The cash withdrawal limit is typically 30% to 40% of your total credit limit. Check your card statement or contact Axis Bank customer care to confirm your specific limit.
You’ll be charged 2.5% of the withdrawn amount, with a minimum fee of INR 500.
Finance charges are 3.75% per month (55.55% per annum). Interest is charged from the day of the withdrawal until the amount is fully repaid.
You will be charged an over-limit penalty of 2.5% on the exceeded amount, with a minimum penalty of INR 500.
Check your available withdrawal limit before making a withdrawal through the Axis Bank mobile app, net banking, or customer support. Plan your withdrawals wisely and consider alternative financing options if needed.
Ensure your card is active and at least three months old, with no payment delays or recent limit changes. You can SMS CLE XXXX (last 4 digits of your card number) to 5676782 or call Axis Bank customer care. You may need to submit income documents.
If salaried with an Axis Bank salary account, provide your account number. If your salary is credited to another bank, submit your last 2 months’ salary slips. Self-employed individuals need to provide their latest financial year ITR with total income computation.
You will typically not earn rewards on Credit Card cash withdrawals.
Several factors like total credit limit, credit history, card usage and spending patterns, and Axis Bank’s internal risk assessment determine the exact Axis Bank Neo Credit Card cash withdrawal limits.
To check Axis Bank Neo Credit Card Cash Withdrawal Limit, you need to
– Log in to Axis Bank Internet Banking or Mobile App.
– Check your credit card statement for cash withdrawal details.
– Call Axis Bank’s customer care (1860-419-5555 or 1860-500-5555) for assistance.
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