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RAMS home loans

RAMS
RAMS's overall rating for home loans

(as rated by the Mozo community)

5.8 / 10

based on 224 reviews

For more than a decade, RAMS has been helping Australians realise their property dreams. Whether you’re a first time buyer, property investor or just looking to refinance, RAMS has an extensive range of home loan offerings tailored to you. In 2008, RAMS became part of the Westpac Banking Corporation. Currently, RAMS has 70 home loan centres conveniently operating throughout metropolitan and regional areas in Australia.

If you’re considering a home loan from RAMS, you’ve come to the right place! Here, you’ll be able to find the information you need to compare all of RAMS home loans to find the best one to suit your property goals. You can also easily compare RAMS home loans against other lenders in the Australian property market by using Mozo’s comparison tool.

Rates and fees verified as correct at 02 June, 2020. Other information correct at the time of writing.

What home loans do RAMS offer?

Fixed Rate Home Loans Fixed Rate Home Loans

If you’re looking for a bit of certainty in your home loan repayments, RAMS’ fixed rate home loan is a worthy contender. The fixed rate is available on loans starting from $15,000 and you can borrow up to 95% of your property’s value. With a fixed rate loan from RAMS, you can choose from an extensive range of home loan periods starting from 1 year up to a period of 10 years with the option of principal and interest or interest only repayments. You’ll have ability to make fee free additional repayments (up to a maximum of $30,000) during your chosen fixed rate period and a redraw facility is available should you need to free up some funds later on. There is a monthly service fee to consider. Compare RAMS against other fixed rate home loans on Mozo.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.04% p.a.

5.06% p.a.

$20.00 monthly

$880

2.84% p.a.

4.80% p.a.

$20.00 monthly

$880

3.79% p.a.

5.15% p.a.

$20.00 monthly

$880

2.29% p.a.

4.30% p.a.

$20.00 monthly

$880


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Variable Rate Home Loans Variable Rate Home Loans

There are two variable home loans to choose from including a no bells and whistles basic loan, and a full featured loan. RAMS’ variable home loans don’t have any monthly service fees and reward borrowers with flexible repayment options such as extra repayment facility, repayment holidays (fees apply) and interest-only payment options ranging from 1 to 5 years or 10 years. The full featured home loan option also comes with an offset account which is a handy feature if you want to save on your interest payments over the life of your loan. How does RAMs compare on variable rates - see Mozo’s variable rate home loan table to compare.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.79% p.a.

3.85% p.a.

$0.00

$880

3.49% p.a.

3.55% p.a.

$0.00

$880

3.59% p.a.

3.65% p.a.

$0.00

$880

2.74% p.a.

2.80% p.a.

$0.00

$880

5.41% p.a.

5.48% p.a.

$0.00

$880

5.12% p.a.

5.18% p.a.

$0.00

$880

5.20% p.a.

5.27% p.a.

$0.00

$880

4.61% p.a.

4.67% p.a.

$0.00

$880


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Variable Package Home Loan Variable Package Home Loan

RAMS’ Value Advantage Package is available on any fixed, variable and line of credit home loans starting from $150,000. You will be required to pay an annual service fee but there are plenty of money saving features you can take ‘advantage’ of such as interest rate discounts and no monthly account servicing fees on your loan. Plus you won’t need to pay any application, conversion, increase, switching (to a fixed rate) or portability fees.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.24% p.a.

4.63% p.a.

$375.00 yearly

$285

3.94% p.a.

4.34% p.a.

$375.00 yearly

$285

4.14% p.a.

4.54% p.a.

$375.00 yearly

$285

3.54% p.a.

3.95% p.a.

$375.00 yearly

$285


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Line of Credit Line of Credit

Line of Credit

If you’ve ever wanted a credit card at home loan rates, you don’t have to look further than RAMS’ line of credit home loan which is available from $15,000 and allows you to borrow up to 90% of your property’s value. Like most line of credit home loans, you will only be charged interest of the outstanding balance and there are no regular repayments required if you’re under the credit limit. There is an extra repayment facility and you can choose from a range of convenient transaction methods including direct debit, salary credit, BPAY, Bank@Post and myRAMS. This loan has a monthly service fee.

Product Rate Comparison Rate* Service fee Upfront fee

5.93% p.a.

n/a

$20.00 monthly

$880

5.93% p.a.

n/a

$20.00 monthly

$880

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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

RAMS home loan features in a glance

Offset accountOffset account

Keep an eye on RAMS’ Full Featured Home Loan which has an offset facility to help you save a bundle in interest payments over the life of your loan. Say you have a loan of $500,000 and have stashed away $50,000 in your offset account, you’ll only be charged interest on the remaining $450,000 of your loan.

Extra repaymentsExtra repayments

You can shorten the life of your loan by making fee free extra repayments whenever you like with RAMS’ variable and fixed (up to a maximum of $30,000) loans. With a variable loan option you have the added flexibility to deposit your salary directly into your loan and redraw when you need to with up to 25 free transactions per month.

Interest only paymentsInterest only payments

If you need to divert funds away from your loan repayments to other commitments for a while, opting for interest only loan payments is a great way to do so. You can choose a period of 1 year up to 5 years or if you’re a property investor you have the option of interest only payments for 10 years.

Fast TrackFast Track

RAMS’ Fast Track option allows you to borrow the full purchase price (or valuation if lower) with the help of a guarantor which is ideal for first home buyers wanting to enter the property market sooner and avoid paying Lender’s Mortgage Insurance.

How are RAMS home loans rated?

Are you a person that leaves no stone unturned in your search for the perfect home loan? We get you! That’s why we have collected thousands of reviews from customers who’ve rated their home loans on everything from price and features to convenience and trustworthiness for you to read. Find out just how satisfied RAMS’ home loan customers are here.

RAMS home loans

Overall 5.8

Price

Features

Customer service

Convenience

Trust

224 Reviews

Recent RAMS home loan reviews Recent RAMS home loan reviews

RAMS

RAMS Home Loan review

Overall rating   0 / 10

Unconscionable lender.

The ruthless franchise model of RAMS branches is not compatible with customer-focused solutions. Complaints to the escalated team are routinely ignored. Emails to RAMS are ignored. Our dealings with RAMS South East have been nothing short of a...

Full review

The ruthless franchise model of RAMS branches is not compatible with customer-focused solutions. Complaints to the escalated team are routinely ignored. Emails to RAMS are ignored. Our dealings with RAMS South East have been nothing short of a shambles. We have observed 4 separate staff members who have departed (as evidenced by automatic email replies advising of their departure) which makes communication all the more difficult. We were assured in writing when we applied for the loan that after 3 consecutive years of clear repayment history, we would revert to full doc and obtain an interest rate reduction of 1% less (we are currently obtaining an exploitative rate of 4.26%). However we understand based on a conversation with customer service that RAMS has reneged on this policy. I understand RAMS will soon be rebranded as Westpac. The sooner that happens, the better.

    Price   0 / 10

    Features   5 / 10

    Customer service   1 / 10

    Convenience   7 / 10

    Trust   1 / 10

Less

Joshua, Victoria, reviewed 2 months ago

RAMS

RAMS Fixed Rate review

Overall rating   9 / 10

Top products and great customer service.

Great customer service, banking app easy to use, great deals and comparison rates.

Full review

Great customer service, banking app easy to use, great deals and comparison rates.

    Price   8 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Amy, Australian Capital Territory, reviewed 3 months ago

RAMS

RAMS Home Loan review

Overall rating   5 / 10

No frills.

My interest rate for a self employed person is very high.

Full review

My interest rate for a self employed person is very high.

    Price   3 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   6 / 10

Less

Alex, Victoria, reviewed 4 months ago

RAMS

RAMS Fixed Rate review

Overall rating   10 / 10

Great company with lovely staff.

I have had an amazing experience with Rams. The staff are fantastic and genuinely helpful and the low rate has been great for me as a single mum.

Full review

I have had an amazing experience with Rams. The staff are fantastic and genuinely helpful and the low rate has been great for me as a single mum.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Toni, South Australia, reviewed 4 months ago

RAMS

RAMS Home Loan review

Overall rating   10 / 10

Trusted bank spectacular customer service!

Updates and communications are excellent. RAMS makes regular contact that makes you feel like you aren't forgotten.

Full review

Updates and communications are excellent. RAMS makes regular contact that makes you feel like you aren't forgotten.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Katarina, New South Wales, reviewed 6 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

What do you need to apply for a RAMS home loan? What do you need to apply for a RAMS home loan?

Any documentation you’ll need to apply for a RAMS home loan depends on what home loan you’re applying for, but all applicants will generally be required to supply the following:

  • Signed RAMS application form
  • 100 Point Check AML Customer Identification Checklist and accompanying identification for each applicant
  • Income details including recent payslips or a letter from your employer detailing conditions and latest recent group certificate.

Are you purchasing?

Signed copy of Contract of Sale.

Are you a first home buyer?

Completed First Home Owner Grant application.

Are you refinancing?

Home loan statements for last six months.

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