Get 0% Interest on Cash Withdrawal from ICICI Bank Credit Card

ICICI Bank has introduced this 0% interest for cash withdrawal made on your credit cards during this offer period. Where there will be no interest or any other hidden charges for exactly 30 days from the date you withdraw cash. You only need to pay the cash advance fee of 2.5% or Rs. 300 whichever is higher.

If you need any urgent money and don't want to pay any high interest then this offer is a great boon for such needs, as the interest rate is less Rs. 300 for a month for up to Rs. 12,000 withdrawal.

I have an idea here. Why not withdraw that money of Rs. 12,000 and invest that money in stock or mutual funds and you might at least get 5% (which I guess is less, when compared to the booming stock market these days). You might even get higher for a month. Just invest for 30 days or less withdraw the money and you could have at least got Rs. 600 as interest from the stock or mutual funds for the money which was not yours! You can pay that Rs. 300 charge for ICICI Bank and you will end up getting Rs. 300 as profit.

This is just an estimate with minimum amount, you can even go for higher amount to get higher profit from the bank's money! But equally there is risks involved here, as if stock or mutual funds go downwards during these 30 days, you might lose some money. So this is a risky or gambling situation but if you like to take risks this is for you.

Remember to pay back the amount to ICICI Bank Credit card, else you might end up paying interest rate which is very much higher than the normal purchase rates. But this is a nice way to earn some bucks through your credit card which in most cases will be the other way around.