The HDFC Moneyback Credit Card is one of the most popular cashback credit cards in India. While it is primarily used for earning cashback on transactions, many users also want to know about the HDFC Moneyback credit card cash withdrawal limit.
In this blog, we will explore the HDFC Credit Card cash withdrawal limit per day, monthly withdrawal limits, applicable charges, and alternative ways to withdraw cash without hefty fees.
Table of contents
HDFC Moneyback Credit Card Cash Withdrawal Limit
The HDFC Moneyback credit card cash withdrawal limit is determined based on your total credit limit. Typically, HDFC Bank allows up to 40% of the total credit limit to be used for cash withdrawals. However, the exact limit varies based on the cardholder’s credit profile.
For example:
- If your total credit limit is INR 1,00,000, the HDFC Credit Card cash withdrawal limit per day could be around INR 40,000.
- The HDFC Moneyback Credit Card cash withdrawal limit per month depends on your spending patterns and available credit.
To check your specific ATM cash withdrawal limit, you can log in to HDFC NetBanking or use the HDFC Moneyback credit card cash withdrawal limit calculator available on the official website.
HDFC Moneyback Credit Card Cash Withdrawal Charges & Interest Rates
While withdrawing cash using an HDFC credit card is easy, it comes with significant charges. These include cash advance fees, finance charges, late payment fees, and GST. Check out the HDFC Moneyback credit card cash withdrawal charges below-
- Cash Advance Fee: 2.5% of the withdrawal amount or INR 500 (whichever is higher).
- Finance Charges: Up to 3.75% per month (or 45% per annum), applied from the date of withdrawal.
- Late Payment Charges: If you fail to make timely repayments, additional penalties apply.
- GST: 18% on all fees and interest charges.
For example, if you withdraw INR 10,000, the HDFC Credit Card cash withdrawal charges calculator will estimate your cost as:
- Cash Advance Fee: INR 50
- Interest for 30 Days: INR 375 (if unpaid)
- GST on charges: INR 157.5
- Total cost: INR 1,032.5 (if not repaid immediately)
Using a credit card for cash withdrawals can become expensive if not repaid quickly. Let’s see how you can withdraw cash and avoid high charges.
How to Withdraw Cash Using HDFC Moneyback Credit Card?
If you need urgent cash, follow the steps given to withdraw money from your HDFC Moneyback credit card. However, HDFC charges interest immediately on cash withdrawals, so it’s best to repay the amount as soon as possible.
Check out the steps to withdraw cash using HDFC Moneyback Credit Card-
- Insert your HDFC Moneyback Credit Card into any ATM that supports Visa, Mastercard, or RuPay.
- Select “Cash Withdrawal” from the menu.
- Enter the amount (ensure it is within your HDFC cash withdrawal limit per day).
- Enter your PIN and confirm the transaction.
- Collect your cash and receipt.
How to Avoid High Charges on Cash Withdrawals?
Withdrawing cash using a credit card can be costly due to high interest rates and additional charges. However, there are ways to reduce or avoid excessive fees when using your HDFC Moneyback credit card cash withdrawal limit.
Follow these tips to manage your withdrawals wisely:
- Repay Quickly– The sooner you repay the withdrawn amount, the lower your interest cost will be. Unlike regular purchases, interest starts accruing immediately on cash withdrawals.
- Calculate Costs Before Withdrawing– Use an HDFC credit card cash withdrawal charges calculator to estimate the total cost of a withdrawal, including cash advance fees, interest, and GST.
- Limit Cash Withdrawals– Avoid frequent withdrawals, as each transaction attracts a separate cash advance fee.
- Look for Offers & Waivers– Occasionally, HDFC Bank provides promotional offers where cash withdrawal charges are reduced or waived for certain cardholders. Check with customer support for any ongoing deals.
- Consider Alternative Options– Instead of withdrawing cash, explore cheaper options like personal loans or overdraft facilities, which generally have lower interest rates. Some digital wallets also allow cash transfers at minimal fees.
By following these strategies, you can withdraw money from a credit card without excessive charges and manage your finances more efficiently.
Also Read: Check here all the major details on HDFC Credit Card Loan Repayment. Know the process, modes and important tips for repayment.
How to Increase HDFC Moneyback Credit Card Cash Withdrawal Limit?
If your current HDFC Moneyback Credit Card Cash Withdrawal Limit is insufficient, you can request an increase. However, if you’re unsure how much you can withdraw, use the HDFC Moneyback credit card cash withdrawal limit calculator to check your personalized limit.
Check out the steps below to increase your HDFC Moneyback credit card cash withdrawal limit-
- Request a higher limit through NetBanking: Log in to HDFC NetBanking and check if you’re eligible for a limit increase.
- Maintain a good credit score: A higher score increases your chances of getting an increased limit.
- Upgrade to a premium HDFC Credit Card: Cards like HDFC Millennia Credit Card offer better withdrawal benefits.
- Increase your total credit limit: Since cash withdrawal is a percentage of your credit limit, increasing it can give you more liquidity.
To sum up, the HDFC Moneyback credit card cash withdrawal limit allows cardholders to withdraw cash in emergencies, but the high charges make it an expensive option. Always repay your withdrawn amount quickly to minimize interest.
If you need frequent cash withdrawals, consider alternative solutions like personal loans or overdraft facilities.
To check your current HDFC Moneyback credit card cash withdrawal limit per month, log in to NetBanking or use the HDFC credit card cash withdrawal charges calculator on the HDFC website. Always make informed financial decisions to avoid unnecessary expenses!
FAQs
Yes, HDFC Bank allows you to withdraw cash from ATMs using the HDFC Moneyback Credit Card. However, cash withdrawals attract high charges and interest rates.
The credit limit varies for each cardholder based on income, credit score, and financial history. You can check your limit via HDFC NetBanking or the HDFC Moneyback credit card cash withdrawal limit calculator.
For most HDFC credit cards, the cash withdrawal limit is up to 40% of the total credit limit. You can check your exact HDFC Credit Card cash withdrawal limit per day in NetBanking.
There is no specific monthly cap, but withdrawals are restricted to 40% of your total credit limit. The daily limit applies, and frequent withdrawals lead to high fees.
The HDFC Credit Card cash withdrawal limit per day depends on your total credit limit. Typically, it is up to 40% of the total limit.
It is not possible to withdraw money from a Credit Card without charges. All HDFC cash withdrawals incur a cash advance fee and finance charges from the date of withdrawal.
You can use the HDFC credit card cash withdrawal charges calculator available on the HDFC website to estimate the fees based on your withdrawal amount.
You can check your HDFC Moneyback Credit Card cash withdrawal limit calculator via HDFC NetBanking, mobile banking, or by calling customer care.
Delaying HDFC credit card cash withdrawal repayment results in high finance charges (up to 3.75% per month or 45% per annum), late payment fees, and a lower credit score.
The HDFC Millennia Credit Card cash withdrawal charges are 2.5% of the withdrawn amount or INR 500 (whichever is higher), plus finance charges of up to 3.75% per month.
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