Bajaj Finserv Credit Card Charges - What is the Interest Rate on Cash Withdrawal From Credit Card
Cash withdrawal with a credit card is a growing phenomenon as it provides the users with an opportunity to withdraw cash from the ATMs at any part of the day with ease. However, the limit for withdrawal is fixed and the customer has to repay the amount withdrawn within a specific duration, which may or may not attract any interest.
With the Bajaj Finserv RBL Bank SuperCard, the interest is completely waived and users can simply avail the offer till 50 days from making the withdrawal. On completion of the stipulated time frame, if the user fails to make the repayment, he/she will have to pay a minimal 3.99% interest rate on the amount.
Top lenders offer withdrawals that do not charge any interest on cash withdrawal from credit card. A user can simply withdraw the amount as and when needed from the ATM 24/7.
Additionally, this withdrawal feature can be availed without any paperwork or approval from the bank’s end. If you have a credit card, you can withdraw the specified amount.
Another important advantage is the high flexibility of usage with such credit card online. A customer with good records of spending and repayments stands to gain additional features and benefits from the card beyond just a credit limit increase.
Nevertheless, using a credit card for cash withdrawal does not necessarily impact your credit score, as the rating agencies receive information about their overall outstanding balance of a customer and not the balances separately.
September 16th, 2019