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My father works for State Bank of India (SBI) as a bank employee. I asked him what is encash offer in SBI credit card. He told me that the SBI credit card has a feature called encash that enables cardholders to turn their current credit limit into cash. The encash amount that a cardholder would be eligible for should be less than or equal to the card's current credit limit. Within 48 hours, the money will get transferred to your account or sent to you via cheque.
What is the processing fee for encash facility in SBI credit card?
Encashing means taking a specific amount of cash out of the credit card and paying it back over time with any applicable interest fees. This facility in SBI gives users some flexibility when it comes to handling their financial commitments.
As Nikhil mentioned, at the time of registration, a processing charge equal to 2% of the encash amount will be charged.
The processing cost has a minimum of Rs 499+GST and a maximum of Rs 3000+GST. Taxes that would be due on this amount would raise it.
Encash or Encash Inline in SBI requires a minimum booking amount of Rs 25,000. Though this amount may change depending on the terms of particular deals. The deal on your account determines the maximum booking amount.
The loans will be paid out in your name using a cheque.
Within 3-5 working days, it will be sent to your address.
Moreover, with the NEFT Facility, you can get money paid to your bank account instantly within 48 working hours.
This is all about what is encash inline in SBI credit card.
Pay all your bills via credit card and get exciting rewards via NoBroker. Get a home loan at the lowest interest via NoBroker. Read more -How to Encash Demand Draft in Bank?
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What is encash in SBI credit card ?
Ritika
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2022-08-29T16:26:14+00:00 2023-08-24T19:53:38+00:00Comment
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