IMB Low Rate Mastercard

Save with a low purchase rate and 0% on balance transfers for 12 months with the IMB Low Rate Mastercard.

You can use the IMB Low Rate Mastercard to get your credit card debt under control and pay no interest on balance transfers for a year. If you’re planning to use the card for everyday spending, you can take advantage of a competitive interest rate and complimentary purchase insurance covers. If you apply for the card by 30 June 2022, you can save with a discounted annual fee of $37 ($75 p.a. thereafter).

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0% p.a.

Balance transfer rate

for 12 months

12.99% p.a.

Purchase rate

$37 p.a.

Annual fee

for the first year ($75 p.a. thereafter)

55 days

Interest free period

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Product NameIMB Low Rate Mastercard
Balance transfer rate0% p.a. for 12 months
Balance transfer revert rateCash Advance Rate (21.74% p.a.)
Balance transfer limit80% of available limit
Purchase rate12.99% p.a.
Annual fee$37 annual fee for the first year ($75 p.a. thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate21.74% p.a.
Min credit limit$2,000
Max credit limit$15,000
Card typeMastercard
Minimum income$25,000
Available to temporary residentsNo
Joint applicationNo


  • A discounted annual fee of $37
  • 0% p.a. for 12 months on balance transfers
  • A low interest rate of 12.99% p.a.


  • Any outstanding transferred balances will revert to a high cash advance rate of 21.74% p.a. at the end of the promotional period
Bonus pointsN/A
Annual fee$37 annual fee for the first year ($75 p.a. thereafter)
Minimum monthly repayment2% of the closing balance or $30, whichever is greater
Late payment fee$30
Cash advance fee3.5% or $3.50, whichever is greater
Overseas cash advance fee$5
Additional cardholder fee$0
Number of additional cardholders4

Review by

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

If you only need one year to repay your old debt, the IMB Low Rate Mastercard could be a good way to do so while avoiding balance transfer fees. It doesn’t offer the longest interest-free balance transfer promotion on the market, but it does charge a competitive annual fee compared to some other cards.

How to apply

You can apply for the IMB Low Rate Mastercard online. Make sure that you meet the eligibility criteria and have the necessary information to complete the application.

Eligibility criteria

  • Income. You must earn at least $25,000 to apply.
  • Residency. This card is only available to permanent Australian residents.

Card benefits

  • Balance transfer offer. You can pay off an existing debt and save with no interest on balance transfers for the first 12 months. You can transfer a balance up to 80% of your approved credit limit from another non-IMB account. At the end of the promotional period, any remaining debt will attract the 21.74% p.a. cash advance interest rate.
  • Discounted annual fee. If you apply by 30 June 2022, you'll pay a discounted annual fee of $37.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges a $75 annual fee.
  • Purchase interest rate. Your purchases will attract a 12.99% p.a. interest rate.

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