1.15% p.a.(for $0 to $5,000,000)
2.00% p.a. (for $200 to $500,000)
RAMS Saver Account
1.15% p.a.(for $0 to $5,000,000)
2.00% p.a. (for $200 to $500,000)
RAMS Saver Account
1.15% p.a.(for $0 to $5,000,000)
2.00% p.a. (for $200 to $500,000)
Last updated: 25 October 2019.
2.00% bonus interest when you make no withdrawals, $200 monthly deposit
Absolutely no fees
Mozo Experts Choice Award winner 2019
Online only, no branch or phone banking
RAMS, known for its low rate home loans, has charged into the high interest savings account market with the RAMS Saver, offering a competitive 2.00% 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.
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 2.00% 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.
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.
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!
Balances from $0: 1.15% p.a.
Balances from $5,000,000: 0.00% p.a.
Balances from $200: 2.00% 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
$0.00
n/a
Unlimited free transactions from internet.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
n/a
$0.00
$0.00
Monthly
No
none
no
no
no
No
No
No
Yes
No
No
none
none
none
This account was my mortgage offset account and while I have now paid out my mortgage and it is...
Read full review
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.
Less
Helen | New South Wales
reviewed about 1 year ago
I like it
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I like it
Less
Henry | South Australia
reviewed over 3 years ago
It was really easy to set up the saver account and it has a great bonus interest rate. The only...
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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.
Less
Steven | New South Wales
reviewed over 3 years ago
Rates keep dropping frequently, not what I expected when I signed up to save money.
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Rates keep dropping frequently, not what I expected when I signed up to save money.
Less
Ben | New South Wales
reviewed almost 4 years ago
Great interest rate!
Read full review
Great interest rate!
Less
Alishia | Western Australia
reviewed about 4 years ago
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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