Can I transfer money from credit card to bank account in HDFC?

Transferring Funds from HDFC Credit Card to Bank Account

As an HDFC credit card holder, you have the option to transfer funds from your credit card to your linked bank account. This feature provides flexibility and convenience when you need to access funds quickly.

Transaction Fees

However, it’s important to note that HDFC charges a transaction fee for such transfers. The fee structure is as follows:

• 2.5% of the transfer amount
• ₹500 (minimum fee)

The higher of these two amounts will be applicable to your transaction.

Additional Charges

In addition to the transaction fee, you may incur other charges depending on the specific bank account you are transferring funds to. For example, some banks may charge a fee for receiving funds from a credit card. It’s advisable to check with your bank before initiating the transfer to confirm any additional charges.

Steps for Transferring Funds

To transfer funds from your HDFC credit card to your bank account, you can follow these steps:

• Log in to your HDFC NetBanking account.
• Navigate to the “Credit Card” section.
• Select the “Transfer Funds” option.
• Enter the amount you wish to transfer and the details of the bank account you want to transfer it to.
• Review the transaction details and the applicable fees.
• Confirm the transfer by entering your OTP (One-Time Password).

Key Points to Remember

• You can only transfer funds from your HDFC credit card to your own bank account.
• The transaction fee will be deducted from your credit card balance.
• The transfer process may take a few business days to complete.
• It’s recommended to use this feature responsibly and avoid excessive transfers to prevent high fees.