What is encash in SBI credit card ?

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.

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Hey, I hate it when banks call you day in and day out to sell their schemes. It feels as if I'm constantly bombarded with information. My experience with the State Bank of India (SBI) has been good. I have availed of many services of the bank, including their SBI credit card encash. I will share details about my experience below. Make hassle-free transactions and get rewards by using NoBroker Utility Bill Payment Service Apply for a NoBroker home loan and get the cash in your hands in no time. I keep on looking at offers given by SBI and other benefits on the sbicard.com website. The SBI credit card encash interest rate keeps changing with respect to time and offers. You can know the current interest rate by calling the SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290. What is SBI credit card encash? It is a pre-approved, money-on-demand facility which is given by SBI to some SBI credit cardholders. The credit limit given depends on the creditworthiness of the cardholder. It may be over and above the existing credit limit or within the existing credit limit on the card. The funds get transferred to your account within a short period of 48 hrs. The bank officials told me that the minimum booking amount for Encash/Encash Inline is ₹ 10,000. So, I opted for ₹ 20,000. I paid 2% as a processing fee. The banker also told me that the cancellation fee is 3%. The available tenure for the service was 12, 24, 36 or 48 months. This is all from my end on SBI credit card encash. Read more : How to transfer money from SBI to International Bank? How to apply SBI credit card through YONO? How to get SBI home loan statement?