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Under 30? You can earn a bonus interest rate of 3% p.a. with the Westpac Life account for 18-29s.
The Westpac Life savings account enables you to set personalised savings goals and track your progress. Not only can you set up your own savings goals, but your money will earn a competitive interest rate at the same time.
0.4% p.a.
Maximum variable rate
0.2%p.a.
Base interest rate
$1
Minimum deposit
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Product Name | Westpac Life |
---|---|
Maximum Variable Rate | 0.4% p.a. |
Standard Variable Rate | 0.20% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 18 |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
Compared to other savings accounts, the bonus interest on this account is quite easy to achieve. You just need to deposit money into the account each month (any amount) and make sure your balance is higher at the end of the month than it was at the beginning.
If you're aged 18-29 you can earn up to 3% p.a. with this account. All you need to do is grow you balance each month and make 5+ eligible debit card purchases from your linked Westpac Choice Transaction Account. If you're under 30, this extra bonus rate offered on the Westpac Life account for 18-29s is one of the most competitive in the market.