Unlike a debit card, everytime you use a credit card to withdraw cash from an ATM, you will be charged cash withdrawal fees (also known as cash advance fees). Everytime you withdraw money through your credit card, you are charged with a transaction fee which will be added to your next month billing cycle.

Citibank collects a credit card cash advance fee of 2.5% on the withdrawn amount or a nominal charge of Rs.500, whichever is higher. If you withdraw multiple times a day, you will be charged for all the transactions based on the billed amount. Apart from the cash withdrawal fee, there are also interest charges which will be charged from the date of transaction till the amount is repaid in full.

Additional Reading: Credit Card Cash Withdrawal

Interest Charges on Citibank Cash Withdrawal

Just like the normal credit card transactions, credit card cash advances also attract finance charges or interest charges. However, the only difference between the two transactions is that while card transactions have interest free periods, cash transactions are not eligible for any such period. 

Citibank charges a different interest rate on cash withdrawals for each credit card. 

  • Except for Citi Ultima Credit Card users, for first time credit card users the bank charges an initial interest rate of 3.25% per month or 39% per annum.
  • The interest rate varies from 3.1% p.m. to 3.40% p.m. or 37.2% p.a. to 40.80% p.a for other Citibank credit cards. 
  • For payments which have been defaulted (that is for those who fail to pay even the minimum amount due) Citibank charges interests of up to 3.5% p.m. or 42% p.a.

The interest will be charged from the date on which the transaction took place till the amount is paid back in full. Therefore, there will be no interest free period for cash withdrawals.

Additional Reading:  How do I repay cash withdrawn on my credit card?

Citibank Cash Withdrawal Fees and Charges

Description of Charges

Citibank Credit Card Cash Advance

Interest Free Period


Cash advance fee

2.5% of cash withdrawn or Rs.500 (whichever is higher)

Minimum repayment amount

5% of the outstanding due, subject to a minimum of Rs.100

Cash advance limit

Communicated at the time of card delivery

Finance charges (on revolving credit)

3.1% - 3.5% per month or 37.2% to 42% p.a.