Balance Transfer Calculator

Minimum monthly repayment: We assume that the minimum monthly repayment for both your current credit card and NAB’s credit card is 2% of the balance of each card. We also assume that no additional payments are made.

Annual fees: We assume that the annual fee for your current credit card(s) is payable in the month that the balance is transferred to NAB.


How to use the Balance Transfer Calculator

  1. First, tell us about your current credit card. We’ll ask you for the card name and provider, current balance, standard purchase interest rate and annual fee. You can enter details for five cards or less. 
    • Current Credit card balance: $3,000
    • Card Provider: Commonwealth Bank
    • Card Name: Visa Card
    • Annual Fee: $30
    • Interest rate: 22.40% p.a.
  2. Next, select See estimated savings to see your results. We’ll show you which NAB credit card product will provide you with the most savings. You’ll also be able to see how much you could save over a given period, as well as what you might expect to repay in your first month.
    • NAB Low Rate Classic Card
    • Savings: $248(over 6 months)
    • Balance Transfer Promotional Offer: 0% for 6 months with 2% BT fee
    • Minimum Monthly Payment (in first month): $57
    • Annual Fee: $59
    • Minimum Credit Limit: $500
    • Standard Purchase Rate: 12.99%

Keep in mind that the rates and fees mentioned is for the NAB credit card used in this example. Both the rates and/or fees may change as well as the card product you apply for may have different rates/or fees. The example and card selected is for illustrative purposes only.


Here’s how we calculate your result:

  • We apply the balance transfer promotional rate to your current credit card balance.
  • We add the annual fee and balance transfer fee that will be applied to your balance once you open your new NAB credit card account. The annual fee will attract the standard purchase rate however, the balance transfer fee will attract the balance transfer promotional rate.
  • We take into consideration the duration of any special offers. For example, if NAB’s promotional balance transfer term exceeds 12 months, then any additional annual fees are applied to the estimate too.

If you request a balance transfer, NAB’s credit assessment criteria will apply. Depending on our assessment you might not be eligible to transfer the full balance on your existing cards.

CANSTAR Pty Ltd supplies rates, fees and product data and are updated daily.