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Kiwibank Low Rate Visa Review

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Pay just 9.95% p.a. on both purchases and cash advances with the KiwiBank Low Rate Visa.

With one of the lowest interest rates found in the New Zealand credit card market, the Kiwibank Low Rate Visa is worth considering for anyone who wants to pay as little interest as possible on their purchases.

The 9.95% p.a. interest rate applies to both purchases and cash advances, but you will pay an account fee of $15 every 6 months. If you have an outstanding balance on another bank’s credit card, you may be able to transfer this over to your Kiwibank Low Rate Visa with 1.99% p.a for 6 months depending on current promotions.

9.95% APR

Purchase Rate

$30 p.a.

Annual Fee


Product NameKiwibank Low Rate Visa
Purchase rate (p.a.)9.95% APR
Annual Fee$30 p.a.
Interest Free PeriodUp to 55 days on purchases
Cash advance rate (p.a.)9.95% APR
Min credit limit$500
Minimum Monthly Repayment5% of transaction value or $10, whichever is greater
Card TypeVisa
Late Payment Fee$5
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes

Benefits of the Kiwibank Low Rate Visa

  • Low-interest rate. At an interest rate of just 9.95% p.a., the Kiwibank Low Rate Visa allows you to save that little bit extra.
  • Balance transfer promotions. Kiwibank sometimes runs promotions where you can transfer the balance from a non-Kiwibank credit card and pay 1.99% p.a for 6 months.
  • Interest-fee days. If you pay off your entire balance each month, you’ll qualify for 55 days interest-free on purchases.
  • Account fee waiver. Kiwibank Tertiary or Graduate Pack customers have the account fee waived for the first year.

Features of the Kiwibank Low Rate Visa

  • Account fee. Every 6 months you’ll be charged an account fee of $15 for your Kiwibank Low Rate Visa.
  • Minimum credit limit. This card has a minimum credit limit of $500.
  • Minimum monthly payments. Each month you’ll need to make a minimum repayment of $10 or 5% of the balance, whichever is greater.
  • FraudWatch International. Kiwibank credit cards are protected by FraudWatch International. All activity is monitored and if anything looks out of the ordinary, Kiwibank will contact you or put a temporary block on the card until you can verify the transaction is valid.

How to apply

Before applying for the Kiwibank Low Rate Visa, make sure to compare the interest rate and benefits against other cards and check that you meet the eligibility requirements. To start your application you can visit a branch or complete the application form on the Kiwibank website.

Eligibility criteria

  • Be at least 18 years of age
  • Be a New Zealand citizen or permanent resident
  • Have a good credit history and agree to a credit check

Required documents

After you’ve filled in the application form, Kiwibank will respond within three working days with an outcome. New customers to Kiwibank will need to prove their identity and address and also provide information about overseas tax residency if relevant.

If you have a RealMe verified identity, you can share this with Kiwibank. If you don’t, you’ll need to verify your identity in a branch by taking your passport or your driver’s licence and a card from another bank that has your name and signature on it.

To verify your address, you’ll need to show a document from the last six months such as a utility bill, bank statement, government letter or store account statement.

Compare other credit cards

Name Product Purchase Rate Interest Free Period Annual Fee
American Express Airpoints Card
0% for 6 months (reverts to 19.95% APR)
Up to 55 days on purchases
$0 p.a.
Be rewarded with 50 bonus Airpoints Dollars. Simply apply, be approved, and spend $750 on your new Card in the first 3 months of membership. This offer is available to new Card Members only.
American Express Airpoints Platinum Card
19.95% APR
Up to 55 days on purchases
$195 p.a.
Be rewarded with 400 bonus Airpoints Dollars when you apply online by 30 March 2021, are approved, and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members only. You will also earn 1 Airpoints Dollar for every $59 you spend on your card.
American Express Platinum Edge Credit Card
2.99% for 6 months (reverts to 19.95% APR)
Up to 55 days on purchases
$149 p.a.
Enjoy a low rate on purchases and earn 20,000 Membership Rewards Bonus Points if you apply, are approved and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.
Farmers Mastercard
25.95% APR
Up to 55 days on purchases
$50 p.a.

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