RAMS Saver Account

1.15% p.a.(for $0 to $5,000,000)

2.80% p.a. (for $0 to $500,000)

RAMS Saver Account

1.15% p.a.(for $0 to $5,000,000)

2.80% p.a. (for $0 to $500,000)

Mozo Review   RAMS Saver Account Review

Last updated: 21 February 2019.

What's hot:
  • 2.80% bonus interest when you make no withdrawals, $200 monthly deposit

  • Absolutely no fees

  • Mozo Experts Choice Award winner 2019

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 RAMS Saver, offering a competitive 2.80% ongoing interest rate, if you don't make any withdrawals and deposit at least $200 each month. It was also awarded a 2019 Mozo Experts Choice Award in the Regular Saver category.

Key features:

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.

While you'll receive a decent 2.80% interest rate if you stick to the above conditions, if you don't you'll only get the standard interest rate at a low 1.15%. 

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!

Details

Rates and fees information correct as at 26 May 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 1.15% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Balances from $0: 2.80% p.a.
    Balances from $500,000: 1.15% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Minimum deposit of $200 and no withdrawals in the month

Fees
  • $0.00

  • none

  • Unlimited free transactions from internet.

  • none

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • none

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • No

  • none

  • no

  • no

  • no

  • No

  • No

  • No

  • Yes

  • No

  • No

  • none

  • none

  • none

Customer Reviews

How are RAMS savings accounts rated by the Mozo community?

Overall customer rating
8.2/10
Price
9.0/10
Features
7.3/10
Customer service
7.8/10
Convenience
7.3/10
Trust
8.3/10

Latest reviews of RAMS Saver Account

  • Overall
    10/10
    It's all i need

    This account was my mortgage offset account and while I have now paid out my mortgage and it is...

    This account was my mortgage offset account and while I have now paid out my mortgage and it is still a great account with interest. Does everything I need.

    Price
    10/10
    Features
    4/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    9/10

    Helen | New South Wales

    reviewed 7 months ago

  • Overall
    10/10
    Good bank

    I like it

    I like it

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Henry | South Australia

    reviewed almost 3 years ago

  • Overall
    8/10
    Great bonus interest rate for savings account

    It was really easy to set up the saver account and it has a great bonus interest rate. The only...

    It was really easy to set up the saver account and it has a great bonus interest rate. The only downside that I can see is that you only get the bonus interest if you have no withdrawals during the month. It would be more useful if you had, say, 2 free withdrawals each month that didn't affect the bonus interest rate.

    Price
    9/10
    Features
    5/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    9/10

    Steven | New South Wales

    reviewed about 3 years ago

  • Overall
    5/10
    Good from far, but far from good.

    Rates keep dropping frequently, not what I expected when I signed up to save money.

    Rates keep dropping frequently, not what I expected when I signed up to save money.

    Price
    6/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    3/10
    Trust
    5/10

    Ben | New South Wales

    reviewed over 3 years ago

  • Overall
    10/10
    Tuck your savings away with RAMS and watch it grow

    Great interest rate!

    Great interest rate!

    Price
    10/10
    Features
    10/10
    Customer service
    7/10
    Convenience
    10/10
    Trust
    10/10

    Alishia | Western Australia

    reviewed over 3 years ago

RAMS

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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