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NAB Low Rate Card

A no-frills card offering a competitive 32 month interest-free balance transfer and $0 first-year annual fee.

The NAB Low Rate credit card gives you a mix of low-cost and simple credit card features, with a low variable 12.99% p.a. interest rate for purchases and a $59 annual fee that’s waived in the first year.

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0% p.a.

Balance transfer rate

for 32 months

12.99% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($59 p.a. thereafter)

55 days

Interest free period

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Product NameNAB Low Rate Credit Card
Balance transfer rate p.a.0% for 32 months
Balance transfer revert rateCash Advance Rate (21.74% p.a.)
Balance transfer limit90% of available limit
Purchase rate p.a.12.99%
Annual fee$0 for the first year ($59 thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate21.74% p.a.
Min credit limit$1,000
Max credit limit$30,000
Card typeVisa
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationYes


  • 0% p.a. on balance transfers for 32 months with no BT fee
  • $0 annual fee for the first year ($59 thereafter)
  • Free additional cardholder


  • No rewards program or travel insurance
Bonus pointsN/A
Annual fee$0 for the first year ($59 thereafter)
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee2% or $2.50, whichever is greater
Overseas cash advance fee2% or $2.50, whichever is greater
Overseas ATM withdrawal fee$5
Additional cardholder fee$0
Number of additional cardholders1

Review by

Amy has been writing about personal finance for more than 13 years – including over 700 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The NAB Low Rate credit card gives you a few ways to save on costs, including a long 0% balance transfer offer, a $0 first-year annual fee and a low variable interest rate on purchases. To give you an idea of your potential savings with this balance transfer offer, if you wanted to transfer $5,000 and are currently being charged 19.94% interest rate, you could save $1,984.61 over 32 months. The $0 first-year annual fee could also help cut down your other card costs but you’ll have to pay the standard $59 annual fee after the first year.

How to apply

You can apply for the NAB Low Rate credit card in around 15 minutes and should receive a response within 60 seconds of submitting the secure application form. Get started by making sure you meet the following requirements and have the necessary details and documents on hand.

Eligibility criteria

  • Residency. You can apply if you're an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to have an acceptable visa. Many visas are acceptable but the following are not: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.
  • Eligible balance transfer debt. With NAB, you can transfer up to 90% of your approved credit limit from non-NAB accounts.

Card benefits

  • 0% p.a. balance transfer offer. You can pay off existing debt with this card's long-term balance transfer offer of 0% p.a. for the first 32 months with no balance transfer fee. At the end of the promotional period, any remaining charges will attract the card's variable cash advance rate of 21.74% p.a. and you must still make the minimum repayment.
  • First-year annual fee waiver. Save with a $0 annual fee for the first year, reverting to $59 p.a. thereafter.

Rates & fees

  • Annual fee. Outside any promotions, the NAB Low Rate Card charges an annual fee of $59.
  • Foreign transaction fee. If you use this card overseas or shop online in a foreign currency, you'll be charged a fee worth 3% of the transaction value.

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  1. Default Gravatar
    December 6, 2021

    I am retired & receive a Full Centrelink Aged Pension & also have access to SMSF monies. Am I elegible to appy & get approval to Balance Transfer my existing credit card.

    • Avatarfinder Customer Care
      December 8, 2021

      Hi Judy,

      You may be eligible to apply for this card as there are no income-related thresholds required, and it covers any other forms of income, such as pensions or government payments. However, be sure to also confirm first with NAB and discuss your approval and the other requirements before you submit your application.

      It’s also best to get more information on which banks accept pensioners for their credit cards to compare your options aside from the NAB Low Rate card.

      Meantime, the NAB Low Rate Card allows you to transfer up to 90% of your approved credit limit from non-NAB accounts. For more information on balance transfer, you may want to check our guide on how to transfer your credit card debt to another bank.

      Hope this helps.



  2. Default Gravatar
    May 21, 2018

    Can I pay out my car loan with an interest free credit card via BPay?

    • Default Gravatar
      May 21, 2018

      Hi Dean,

      Thanks for getting in touch!

      You can link your NAB card with BPay and pay your car loans and other bills using BPay. For further information, you may check with your bank on how to link your account with BPay. Please note that we’re a product comparison website and we do not represent any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.

      Don’t hesitate to message us back if you have more questions.


  3. Default Gravatar
    May 4, 2017

    is there any purchase protection, overseas transactions fee, International Currency Conversion Fees etc.

    • Avatarfinder Customer Care
      May 4, 2017

      Hi Ben,

      Thanks for reaching out.

      Yes, the NAB Low Rate Card has purchase protection. You can find the link to the booklet that outlines the policy on purchase protection on the NAB’s official page. Please click on the “Go to site” button above to be redirected to NAB’s page.

      If you will also click on the “Fees & Repayments” tab above, you would find the fees and rates of this card including foreign currency conversion fee, cash advance fee, overseas ATM withdrawal fee, etc.

      Hope this helps.


  4. Default Gravatar
    May 3, 2017

    what does awaiting moderation mean?

    • Default Gravatar
      May 3, 2017

      Hi Karren,

      Thanks for your inquiry.

      Basically, awaiting moderation means “waiting for approval from a moderator moderator”

      Hope this information helped.


  5. Default Gravatar
    April 18, 2017

    just wondering once the term of the interest free period is up and the debt has been paid are we able to close the credit card account immediately or is there a certain timeframe in which we are not aloud to close the account.

    • Avatarfinder Customer Care
      April 18, 2017

      Hi Wes,

      Thanks for your question.

      As long as you have repaid the balance on your card, you can close it anytime. Please read our guide to learn more about how to close a credit card properly and avoid future problems.


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