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Westpac’s Millennial pitch

Westpac is making a push for the youth dollar, with a bonus savings rate offer of 3 per cent for people under 30.

The offer comes with a lot of conditions. The 3 per cent bonus rate is available to customers who make at least one deposit and increase the balance in their Westpac Life account each month, and also make five eligible purchases using a Westpac Choice debit card each month.

Ineligible purchases include ATM transactions, Bpay payments and point of sale cash out.

Customers who increase the balance but do not make the eligible purchases will earn 1 per cent.

If the customer does not meet either of the bonus requirements, the base rate is 40 basis points.

The rate applies to balances up to A$30,000. The deal is available to people aged 18 to 29.

 

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