Fund Transfer from SBI Credit Card

An SBI credit card holder can easily transfer funds from his/her SBI card using the various cash advance options offered by SBI. This amount is borrowed against the available credit limit on the SBI credit card and card holder has to pay an interest rate on the transferred amount along with a one-time processing fee.

The interest rate ranges from 1.05% per month to 3.35% per month depending upon the cash advance options card holder has chosen at the time of fund transfer.

Transfer funds Online from SBI Credit Card

SBI Card Encash

Encash is cash advance facility offered by SBI Cards to its credit card holders. By using Encash cash advance method, an existing SBI credit card holder can transfer a minimum of Rs. 10,000 to maximum amount equal to the available credit limit or sometimes above the credit limit. The amount transferred borrowed using this facility will be blocked against the available credit limit on your SBI Credit Card. However, an interest rate has to be paid on the borrowed amount by the card holder, depending upon the tenure the amount is being advanced.

Currently, SBI Card charges an annual interest rate ranging from 12.7% to 29% along with a one-time processing fee equal to the 2% of the advanced amount, paid by the card holder. The card holder can choose a repayment period of 12 months, 24 months or 36 months.

Applicable Interest Rate

1.05% – 2.41% per month

Tenure Options

Minimum 12 Months to Maximum 36 Months

Loan Amount

Minimum Rs. 10,000

Processing Charges

2% of the advanced amount
Minimum Rs. 499 to Maximum Rs. 3000

How to transfer funds from SBI Credit Card using SBI Card Encash facility?

Card holder can just simply transfer the funds online using the SBI credit card online facility or request for the service by calling the SBI credit card customer support or by sending an SMS.

Book through SBI Card NetBanking

  • Click here to go to your SBI Card Online account and go to the “Benefits” section available on the left-hand side menu. If you’re eligible for the Encash facility, you’ll see a link named “Encash” in Benefit section.
  • Click on “Encash” link and enter the the amount you want to borrow.
  • Now select a repayment period of your choice and interest rate offered to you.
  • Click on “Confirm” to book the service.

Book through SBI Card Customer Support

  • Dial 1860-180-1290 (for BSNL/MTNL landlines) or 3902-0202 (prefix local STD code) from your registered mobile number and connect to the SBI Card Customer Care representative.
  • Make a request for Encash facility to the SBI Card representative. He/she may ask your card information such as credit card number for verification.

Book by sending an SMS

  • Compose a new message and write “Encash”.
  • Send the text to 56767 from your registered mobile number.

SBI Easy Money

The Easy Money option is for those SBI card holders who wants to borrow the funds for a short period of time. The card holder can borrow the funds for a maximum of 45 days only and has to pay an interest rate of 2.45% per month. Using the Easy Money cash advance option, the card holder can transfer a minimum of Rs. 5000 to maximum amount equal to upto 75% of the credit limit available on the SBI card. Along with the applicable interest rate, the card holder has to pay a one-time processing fee as well, equal to the 1.5% of the availed amount.

Applicable Interest Rate

2.45% per month

Tenure

45 Days

Loan Amount

Minimum Rs. 5,000

Processing Charges

1.5% of the advanced amount
Minimum Rs. 149

How to transfer funds from SBI Credit Card using Easy Money facility?

Similar to the SBI Card Encash facility, the card holder can also apply for the Easy Money facility either by simply logging into SBI Card online service or by calling the customer care of SBI credit card. Although, the options to apply for the facility by sending an SMS is not available.

Book through SBI Card NetBanking

  • Click here to go to your SBI Card Online account and go to the “Benefits” section available on the left-hand side menu. If you’re eligible for the Easy Money facility, you’ll see a link named “Easy Money” in Benefit section.
  • Click on “Easy Money” link and enter the the amount you want to borrow.
  • Now select a repayment period of your choice and interest rate offered to you.
  • Click on “Confirm” to book the service.

Book through SBI Card Customer Support

  • Dial 1860-180-1290 (for BSNL/MTNL landlines) or 3902-0202 (prefix local STD code) from your registered mobile number and connect to the SBI Card Customer Care representative.
  • Make a request for Encash facility to the SBI Card representative. He/she may ask your card information such as credit card number for verification.

Transfer funds Offline from SBI Credit Card

Cash Advance at ATMs

Cash Advance at ATMs is an another method using which an SBI card holder can transfer funds from their SBI credit card account to another account. However, the card holder has to do the entire process manually since it’s an offline method. The card holder can withdrawal an amount as high as upto 80% of his/her SBI card’s credit limit.

Depending upon the credit card, the card holder can withdrawal Rs. 12,000 to Rs. 15,000. Additionally, a one-time cash withdrawal fee ranging from 2.5% to 3% of the withdrawal amount will be levied to the card holder’s account, subject to minimum Rs. 300.

Applicable Interest Rate

3.35% per month

Loan Amount

Upto 80% of credit limit
Rs. 12,000 to Rs. 15,000 depending upon the card.

Withdrawal Charges

2.5% of withdrawal amount or Min Rs. 300.
At Domestic ATMs
3% of withdrawal amount or Min Rs. 300.
At Domestic ATMs

How to transfer funds from SBI Credit Card using Cash Advance at ATMs?

  • Walk into a nearest SBI ATM and swipe your SBI credit Card into the machine.
  • Choose “Banking” option and select your preferred language.
  • Enter your credit card pin.
  • Now, choose “Cash Withdrawal” option on the screen and enter the amount you wish to withdrawal. Make sure the amount is not more than the allowed credit balance on the card.
  • Click on “Yes” to withdrawal the amount and collect your cash along with transaction receipt.

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