Virgin Money Boost Saver (for 18-24 year olds)

Aged 18-24? For a limited time only, earn an intro bonus rate of up to 1.5% p.a. for 3 months, and an ongoing rate of up to 1.20% p.a. thereafter.

Earn a limited-time bonus intro rate up to 1.5% p.a. for the first 3 months. This rate is for new customers only when you open an account bundled with the Virgin Money Go Transaction account before 30 November 2021 and meet the account criteria (listed below).

You must meet the following account criteria to earn bonus interest; deposit at least $1,000 each month and make at least five transactions from the account in the previous month. If you're aged 25+, you instead need to deposit $2,000 per month. After the intro period ends you can earn an ongoing bonus rate up to 1.20% p.a. when this criteria is met.

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1.5% p.a.

Maximum variable rate

0.1%p.a.

Base interest rate

$1,000

Minimum deposit

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Details

Product NameVirgin Money Boost Saver (18-24 year olds)
Maximum Variable Rate1.5% p.a.
Standard Variable Rate0.10%
Monthly Account Fee$0
Minimum Age18

Review by


Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

The great thing about this account is that if you're under 25, it's much easier to earn the bonus interest rate. If you're aged 18-24 you can earn bonus interest each month you deposit at least $1,000 into your linked Virgin Money Go Transaction Account and make at least five transactions in the previous month. Once you're 25 or older, the deposit condition is increased to $1,000 per month which may be harder to meet.

If you're aged 14-17, there are no monthly account conditions to meet to earn bonus interest.

Key features

Limited time only: Earn up to 1.5% p.a. for 3 months

Earn a special intro bonus intro rate up to 1.5% p.a. for the first 3 months. This rate is for new customers only on your first Boost Saver account when bundled with the Virgin Money Go Transaction account when you open it before 30 November 2021 and meet the standard account criteria (listed below).

Earn an ongoing bonus variable rate of 1.20% p.a.

After the 3 month intro period ends, this account offers an ongoing total bonus variable rate of up to 1.20% p.a. each month you meet the following account criteria:

  • Bundle your Boost Saver with a Virgin Money Go Transaction Account, and
  • Deposit at least $1,000 into your linked Virgin Money Go Transaction Account each month, and
  • Make at least 5 transactions from your Virgin Money Go Account in the previous month. These transactions can include Visa Debit purchases, BPAY payments or direct debits as long a they're settled during the month.

If you're aged 25+ you need to deposit $2,000 per month into your linked Virgin Money Go Transaction Account, and make five or more transactions, to be eligible for bonus interest. See the Virgin Money Boost Saver (25+ year olds) for more information.

If you're aged 14-17, you have no account conditions to meet to be eligible for bonus interest.

Bonus interest is available on a combined total balance of up to $250,000 across up to 9 Boost Saver accounts.

Linked to a Virgin Money Go Account

You need to open a Virgin Money Go Account in order to open a Boost account (you can't open a Boost Saver account on its own). The Go Account can be used as a day-today transaction account with no account keeping fees, and the opportunity to earn points as you spend.

🔥 Special offer: Welcome bonus of 5,000 Virgin Money Points!

You'll receive a welcome bonus offer of 5,000 Virgin Money Points when you open your first Virgin Money Go Account and make your first transaction within 30 days of opening the account. T&C's apply ends 31 October 2021.

Virgin Money Rewards

If you meet the account conditions (outlined above) you can earn Virgin Money Points for each purchase you make. You can then use these points for a number of benefits, such as redeeming them for cash or purchasing gift cards with partnering brands. Once you're a customer, you can see the latest reward offers in the Rewards Hub.


How to apply

Eligibility

  • Minimum age. To apply online for this account, you must be aged 14 or older.
  • Residency requirements. You must be an Australian citizen or resident that is able to provide proof of being in Australia when the account is opened.

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