In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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NAB Low Rate Business Card
Terms and conditions apply
Purchase rate for the first 12 months (reverts to 13.25%)
0% p.a.
Annual fee for the first year ($60 p.a. thereafter)
$0 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Offers 0% p.a. interest on purchases for the first 12 months and no annual fee in the first year, with a $60 annual fee per card after that.

The NAB Low Rate Business credit card offers a mix of affordable and practical features for sole traders, small businesses and larger companies. You have the option of adding up to 1,000 cards to the account, with a $60 annual fee per card ($0 in the first year). Each card can have its own credit limit, with detailed monthly card statements provided alongside an account summary designed to help you manage spending across the business. You also have control over each card's spending by blocking cash advance transactions and using card controls to temporarily block cards.

Pros

  • 0% interest for the first 12 months on purchases
  • $0 annual fee for the first year
  • Low variable interest rate of 13.25% p.a. on purchases and cash advances

Cons

  • You cannot earn rewards for your spending
  • Complimentary travel insurance is not included

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

You can use the NAB Low Rate Business credit card to manage business spending through a single account that offers additional cardholders and detailed monthly summaries.

Details

Product details

Product Name NAB Low Rate Business Card
Purchase rate p.a. 0% for 12 months, then 13.25%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 13.25%
Min credit limit $5,000
Card type Visa

Eligibility

Available to temporary residents No
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee $0 first year ($60 after)
Late payment fee $15
Foreign currency conversion fee 3%
Cash advance fee 3% or $3, whichever is greater
Additional cardholder fee $60
Number of additional cardholders 1,000

How to apply

You can apply for the NAB Low Rate Business card online in around 15 minutes, with faster documentation options if you use MYOB, QuickBooks or Xero. Before you apply, make sure you meet the eligibility criteria and have all the other required information and documents on hand.

Eligibility criteria

  • Business structure. You can apply for this card if you're a sole trader, someone in a partnership with up to two other partners, or a director of a company with up to five directors. Note that only businesses with a residential address in Australia are eligible for this card.
  • Business requirements. Your business must be registered for GST, have a valid ABN/ACN for at least 12 months and have an annual turnover of at least $75,000 to apply for this account.

Card benefits

  • $0 annual fee in the first year. The annual fee for the primary card as well as any additional cards will be waived for the first year. The standard $60 annual fee (per card) will be charged to the account in the statement period following the anniversary of the first use of the card.
  • 0% p.a. on purchases for 12 months. You won't have to pay interest on your purchases for the first 12 months, which can help you repay the balance without any additional costs during that time. However, you will still need to make minimum payments by the due date on each statement period. At the end of the promotional period, any unpaid purchase balances will attract interest charges at the purchase rate. NAB may vary or end this offer at any time.

Rates & fees

  • Annual fee. After the annual fee waiver, this account charges a standard annual fee of $60 per card.
  • Purchase rate. Outside of any promotions, this card charges a purchase rate of 13.25% p.a.

Your reviews

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Amy Finder

Editor

Hi there, looking for more information? Ask us a question.

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Santosh

June 15, 2023

LOOKING FOR CREDIT CARD ON 0% INTREST ON PURCHASES


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Amy Bradney-George Finder

June 15, 2023

Hi Santosh,

Finder has a guide on credit cards that offer 0% interest on purchases for an introductory period, including a table of offers you can compare and more details about them. I hope that helps.


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