How To Use Credit Card For Cash Withdrawal Without Any Charges

If you have checked credit card statement, a certain portion of your credit line is typically available for cash advances. You can get this cash advances from any ATM. To get a cash advance you will usually be charged a fee and a high interest rate that starts the moment you take the money, but if you really want cash withdraw/transfer money to your saving account without high interest rate and cash advance fee, here are few methods to check.

Some of the banks cash advance fees and interest rates on cash advances:

ICICI Bank –

HDFC Bank –

Transferring Money to bank without charges::

All app based wallets, can be used to pay bills, split bills, request money from friends and to send money to friends. All these features are available with the most of the wallets in India however some wallets can be used for loading money from credit card and transfer it to your bank account without any charges.

AS on 01-01-2017.

PayTM wallet: 5000.00 per transaction (20000/month) immediately you can transfer after adding money with credit card.

 FreeCharge :5000.00 per transaction (20000/month) and there is a waiting period of two days,  that means you have to wait two days after adding money from credit card.

 Citrus wallet: can be sued to transfer money up to Rs 3000.00 per month to your bank without any charges.

Ola Money:  1000.00 per transaction

Load money to wallets at the start of your billing cycle from your credit card to get most use of credit card and withdraw it to your bank at your convince. You also get points (Payback/reward points) for loading money to wallet which is additional benefit.

Ex: My credit card billing cycle starts on 15th hence I load it on 16th of every month and transfers it to linked bank on 1st of every month. I use ICICI CC which also gives 90 payback points for loading 3000.00 in citrus wallet which is equal to Rs 22.50.

Credit Card balance as a debit card balance where only debit card payments are accepted:

Udio wallet gives a visa powered debit card to use it as bank debit card. Load money to wallet via Credit Card and use the Udio Debit Card, where transaction is accepted using debit card like chit fund companies and other finance companies online payments.

The limit of the Udio card is Rs. 20000.00 per month




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