The cash withdrawal limit on a Bank of Baroda (BoB) credit card is generally set at 40% of your total credit limit.
Understanding Your BoB Credit Card Cash Withdrawal Limit
Bank of Baroda determines the specific cash withdrawal limit for each individual credit card. While the bank makes the final decision on this limit, a common guideline is that the available cash advance limit is typically 40% of the card's overall credit limit.
It's a frequent misconception among many Bank of Baroda credit cardholders that their total credit limit is the same as their available cash advance limit. However, the cash withdrawal limit, also known as a cash advance limit, is a distinct subset of your total credit limit.
Key Aspects of BoB Credit Card Cash Advances
- Bank Discretion: The specific cash withdrawal limit is ultimately decided by Bank of Baroda for your particular card.
- General Percentage: As a general rule, the cash advance limit is 40% of your credit card's total sanctioned credit limit. For example, if your total credit limit is ₹2,00,000, your cash withdrawal limit would generally be ₹80,000.
- Distinct from Total Limit: It's important to understand that the cash advance limit is not the same as your total credit limit. Always verify your specific cash advance limit to avoid issues.
- How to Check Your Limit: To find out your exact cash withdrawal limit, you can typically check your credit card statement, log in to your BoB net banking account, or contact Bank of Baroda customer service.
It is crucial to be aware of your specific cash advance limit before making a withdrawal to ensure you stay within permissible limits and understand any associated charges that may apply to cash advances.
