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    • RAMS RAMS Saver

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    savings accounts

    • 4.95%

    • 5.75%

    RAMS RAMS Saver Review

    Review published: 23 May 2012
    Review updated: 25 May 2012

    What's hot:

    • High 4.95% ongoing variable interest rate
    • 0.8% bonus interest when you make no withdrawls, $200 monthly deposit
    • Absolutely no fees

    What's not:

    • Online only, no branch or phone banking

    Mozo snapshot:

    RAMS, known for its low rate home loans, has charged into the high interest savings account market with the new RAMS Saver. The RAMS Saver offers one of the highest ongoing interest rates in the market right now at 4.95%, beating out well known savings favourites in the high ongoing interest stakes, UBank and RaboDirect.

    Key features: In addition to the high ongoing variable interest rate the RAMS Saver account has a 0.8% bonus rate if you don't make any withdrawals and deposit at least $200 in the account each month. There are no fees attached to the account and no minimum balance requirements but the bonus rate can only be applied to accounts with balances up to $500,000.

    One of the great features of the RAMS Saver account is the pay anyone functionality. Many online only savings accounts make you transfer funds to a nominated transaction account but with the RAMS Saver you can make bill payments or transfer funds to any Australian bank account. You can also transfer between existing RAMS accounts.

    Who it's good for: The RAMS Saver is great savings account for anyone who wants a simple to manage, competitive ongoing rate on their savings stash. The RAMS Saver doesn't have the tricks and traps of other online savings accounts where you get high interest for a few short months and then a much lower ongoing rate. Sure there's an incentive not to touch that money but at least if you do, you know you're not going to lose out badly on interest.

    Any catches? This is an online only account so you won't have access to phone or branch banking but this shouldn't be a problem for most people, plus if you get into trouble or forget passwords, there is the Australian-based customer service on hand to help out!

    How are RAMS savings accounts rated by the Mozo community?

    Product Type Overall Price Features Service Convenience Trust
    RAMS savings accounts 0.0 Based on 0
    RAMS savings account reviews

    Read RAMS savings account reviews by the Mozo community

    Rates

    Rates
    Balances from $0: 4.95%pa
    Special Rates
    Balances from $0: 5.75%pa.
    Balances from $500,000: 4.95%pa
    Special rate conditions
    Monthly deposit of $200, with no withdrawals.

    Features

    Atm access
    no
    Daily atm withdrawal limit
    $
    Eftpos card
    no
    Mastercard debit card
    no
    Visa debit card
    no
    Branch access
    No
    Cheque book
    No
    Phone banking
    No
    Internet banking
    Yes
    Bpay
    No
    Australia post banking
    No
    Other restrictions
    none
    Other benefits
    none
    Kids ages
    none

    Fees

    Account fee
    $0.00
    Account fee waiver
    0
    Free transactions per month
    0
    Network ATM fee
    $0.00
    ATM networks
    none
    Other bank ATM fee
    $0.00
    Over the counter deposit fee
    $0.00
    Over the counter withdrawal fee
    $0.00
    Eftpos fee
    $0.00
    Phone fee
    $0.00
    Internet fee
    $0.00
    Cheque fee
    $0.00

    Other financial bits

    Minimum opening deposit
    $0.00
    Minimum balance
    $0.00
    Interest paid
    Monthly

    About RAMS

    RAMS home loans believe in the Australian dream of owning your own home and aim to make this dream come true. With their flexible options and innovative products, RAM home loans is making the dream a reality. RAMS home loans aim to provide home loan solutions to meet many different needs, including low deposit loans, no deposit loans, low doc loans, line of credit loans and low rate loans for members Australia wide.

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