NAB launches 12 months interest free BT and purchase rate offer
Article by Rebeccah Elley
While competitive balance transfer offers are commonplace during the post Christmas period, some providers have introduced a unique new credit card offer, which allows customers to save in two ways - paying down transferred debt and paying no interest on new purchases.
Leading the way is Big Four Bank NAB with its newly introduced credit card offer of 0% interest for 12 months on balance transfers and 0% interest for 12 months on purchases.
NAB’s general manager of consumer lending, Angus Gilfillan said the bank knows that many customers are looking to get on top of their personal finances at this time of year and this new offer could help them achieve that goal.
“This offer provides customers with the flexibility to manage their existing debt while staying on top of their weekly expenses so they can get their household budget on track for 2015.”
“We’ve calculated that a customer who brings across a balance of $5,000 and makes regular purchases of $500 on the card, while also making their minimum monthly repayments, can save up to $1,500 on interest with a new NAB Low Rate card over the 12 months.”
This offer is available on all new NAB personal credit cards for customers who apply between 19 January and 19 April, 2015.
Other banks offering 0% interest on balance transfers and purchases include:
Westpac Low Rate - Online Only Offer - 0% interest for 3 months and 0% for 16 months
St.George Vertigo Platinum - Online Only Offer - 0% interest for 6 months and 0% for 6 months
Bank of Melbourne Vertigo Platinum - 0% interest for 3 months and 0% for 16 months