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 28 February 2021, you can save with a discounted annual fee of $37 ($75 p.a. thereafter).
Balance transfer rate
for 12 months
for the first year ($75 p.a. thereafter)
Interest free period
|Available to temporary residents||No|
- 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.
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.
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.
- Income. You must earn at least $25,000 to apply.
- Residency. This card is only available to permanent Australian residents.
- Credit history. You need to have a good credit score and history.
- Age. You'll need to be at least 18 years old.
- Personal details. This includes your full name, phone number, home address, date of birth, marital status, number of dependants and driver's licence number.
- Employment. Confirm your employment status and your employer's name, address, and phone number.
- Finances. You'll be required to confirm and prove your annual income and list your expenses, assets (such as savings and investments) and liabilities (including other debts).
- 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 28 February 2021, you'll pay a discounted annual fee of $37.
- Complimentary insurance covers. You can shop with peace of mind thanks to complimentary insurance covers on purchases. You'll be protected if you purchase an item with your card and it's damaged, lost or stolen. You'll also be reimbursed the price difference if you buy an item and you find it elsewhere at a discounted price thanks to the guaranteed pricing scheme. Terms, conditions and exclusions apply.
- Mastercard benefits. You can use your Low Rate Mastercard wherever Mastercard is accepted around the world. This includes for tap and go payments of up to $100.
- Security. Fraud shield protects your account with 24/7 fraud monitoring, so you'll be alerted as soon as possible if suspicious activity is detected.
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.
- Cash advances. Cash advance transactions (such as an ATM withdrawal) immediately attract a 21.74% p.a. interest rate. You'll also be charged a cash advance fee.
- Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases. You're not eligible for interest-free days if you're paying off a balance transfer debt.
- Additional cardholders. You can request up to 4 additional cardholders for free. Cardholders must be at least 16 years old and as the primary cardholder, you'll be liable for all transactions made with these cards.