NAB Low Rate Card Review (2026)
Rates and details verified 17 May 2026
Rates can change without notice. Last verified: 17 May 2026 (AEST). Please confirm details on the bank’s official page.
Purchase rate
13.49%
p.a. variable
Annual fee
$99
waived first year
Interest-free days
55
when balance paid in full
How the NAB Low Rate Card Works
The NAB Low Rate Card is a no-frills low-rate credit card from one of Australia's big four banks. It charges 13.49% p.a. on purchases — lower than ANZ and Westpac's low-rate cards — with an annual fee of $99 that is waived in the first year for new customers.
There are no rewards points, no sign-up bonuses, and no balance transfer promotional offers. It is a straightforward card designed for people who occasionally carry a balance and want to minimise interest costs.
Key Rates and Fees
| Feature | Detail |
|---|---|
| Purchase rate | 13.49% p.a. variable |
| Annual fee | $99/year ($0 first year for new customers) |
| Interest-free days | Up to 55 days on purchases |
| Balance transfer | No promotional offer |
| Rewards | None |
Rates as at 17 May 2026. Check NAB's website for the latest.
Pros and Cons
Pros
- ✓ Annual fee waived in year 1 — try it for free
- ✓ 13.49% p.a. — lower than ANZ and Westpac low-rate cards
- ✓ Up to 55 interest-free days
- ✓ Major bank — NAB app, branches, and customer service
Cons
- ✗ $99/year from year 2 — highest ongoing fee among low-rate cards we track
- ✗ No balance transfer offer
- ✗ No rewards or travel benefits
- ✗ Higher rate than Bankwest (12.99%) for a higher fee
How It Compares
- CommBank Low Rate: 10.99–15.99% (personalised), $72/year
- Bankwest Breeze Classic: 12.99% (fixed), $49/year — 0% BT 24 months
- NAB Low Rate: 13.49% (fixed), $99/year (waived yr1)
- ANZ Low Rate: 13.74% (fixed), $58/year
- Westpac Low Rate: 13.74% (fixed), $59/year
NAB's first-year fee waiver is a genuine point of difference. For someone who wants to try a low-rate card from a major bank at zero initial cost, NAB is a reasonable option. From year 2, the $99 fee makes it the most expensive in this category.
FAQs
What is the purchase rate?
13.49% p.a. variable — applies to all approved customers.
What is the annual fee?
$99/year. Waived in the first year for new customers.
Are there interest-free days?
Yes — up to 55 days on purchases when you pay your closing balance in full by the due date each month.
Information is general in nature and may change without notice. Details verified 17 May 2026. Confirm current rates, fees, and eligibility on NAB's website before applying. This is not financial advice.