Kiwibank Low Rate Visa review

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.

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9.95% p.a.

Purchase Rate

$30 p.a.

Annual Fee


Product NameKiwibank Low Rate Visa
Purchase rate (p.a.)9.95% p.a.
Annual Fee$30 p.a.
Interest Free PeriodUp to 55 days on purchases
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. With 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. Currently, you pay 1.99% p.a. for 6 months.
  • Interest-fee days. If you pay off your entire balance each month, you qualify for 55 days interest-free on purchases.

Features of the Kiwibank Low Rate Visa

  • Account fee. Every 6 months, you are 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. FraudWatch International protects Kiwibank credit cards. All activity is monitored, and if anything looks out of the ordinary, Kiwibank contacts 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 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 are not set up on RealMe, you can use ID Checker if you have a smartphone, or you 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 need to show a document from the last six months, such as a utility bill, bank statement, government letter or store account statement.

You also need to prove your income, but Kiwibank will advise you on what documentation you need to do this.

The bottom line

With a purchase interest rate of 9.95% p.a., the Kiwibank Low Rate Visa is one of the lowest interest rate credit cards on offer in the market. It’s a great no-frills option if you need a credit card for emergencies or it is your first credit card. However, still, make sure you compare your options to ensure it is the right choice.

Compare other credit cards

Name Product Purchase Rate Annual fee Balance Transfer Rate
The Co-operative Bank Fair Rate Credit Card
12.95% p.a.
0% p.a. for 6 months
0% p.a. on balance transfers for 6 months, plus benefit from a low rate of 12.95% on both purchases and cash advances.
American Express Airpoints Card
0% for 6 months (reverts to 19.95% 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% p.a.
Limited time offer: Be rewarded with 500 bonus Airpoints Dollars when you apply online by 27 September 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. Ts&Cs apply. 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% 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.

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