In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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RAMS Saver Account

RAMS Saver Account - DISCONTINUED

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Maximum variable rate
1.40% p.a.
Base interest rate
0.1%p.a.
Minimum deposit
$200

Our verdict

You can earn a bonus interest rate of 1.4% when you deposit $200 and make no withdrawals.

The total bonus rate available with this savings account is much lower than many other accounts in the market at the moment, and the eligibility criteria and conditions are also quite strict. You need to deposit $200 per month, make no withdrawals and also be an existing RAMS Home Loan customer. If you've got all your banking with RAMS and like to keep your finances together in the one place for ease of use, this account could be suited to you. Otherwise, you can earn a lot more interest elsewhere.

Pros

  • $0 account keeping fee
  • Competitive interest rate

Cons

  • Cannot withdraw if you want the bonus rate
  • Minimum deposit requirements
  • No branches available

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Details

Key details

Product Name RAMS Saver Account - DISCONTINUED
Maximum Variable Rate 1.40% p.a.
Standard Variable Rate 0.10% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

Maximum variable rate of 1.4% when you deposit at least $200 that month and make no withdrawals

You must also keep your balance between $200 and $500,000.

Standard variable rate of 0.1% p.a.

If you don't meet the deposit, balance or withdrawal requirements, then the funds in your account earn the standard variable rate instead of the bonus rate. Don't worry, if you meet the requirements in the next month, you will receive the bonus interest again.


Your reviews

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Lindsay

January 07, 2019

How do I go about opening a RAMS Saver Account?


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Jhezelyn Finder

January 07, 2019

Hello Lindsay,


Thank you for your comment.


To open a RAMS Saver account, just click the Open A RAMS Saver button found on the RAMS website. Please ensure that you meet the eligibility criteria before submitting an application to apply. Please refer to the criteria above.


Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


Regards,

Jhezelyn


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Fiona

September 03, 2018

What do you have to offer under 18s? 10 and 12yrs to be specific


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John Basanes Finder

September 03, 2018

Hi Fiona,


Thank you for leaving a question.


RAMS savings account is currently being offered to Australian residents who are aged 18 or over. You must have an Australian residential address and be able to provide an e-mail address as well as an Australian mobile phone number. Hope this helps.


Cheers,

Reggie


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Roy

August 30, 2018

I have $225,000 looking for the highest interest savings account?


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QJhezelyn Finder

August 30, 2018

Hello Roy,


Thank you for your comment.


As of this writing, the three high-interest rates savings account goes to RaboDirect High Interest Savings Account with 3.05%, next is Bank of Queensland WebSavings Account with 2.90% and next is ING Savings Maximiser with 2.80%.


Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.


Regards,

Jhezelyn


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Tony

August 01, 2018

Is it true the 3% interest rate is only available to a maximum of $20000 and if I exceed $20000, do I continue to receive 3% on my savings and what rate applies to amounts in excess of $20000?


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Jhezelyn Finder

August 01, 2018

Hello Tony,


Thank you for your comment.


The 3% interest rate is the maximum you can get (combined 1.35% p.a Standard Variable Rate and 1.65% p.a. Bonus Variable Rate) when you deposit at least $200 each month, make no withdrawals, and as long as your account balance will not exceed $500,000 and does not fall below $200.


To answer your question above, it is not true.


Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


Regards,

Jhezelyn


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Theo

July 30, 2018

Can I use this RAMS Saver Account for money in a super fund?


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Nikki Angco

July 31, 2018

Hi Theo!


Thanks for getting in touch!


Unfortunately, the RAMS Savers account cannot be used for a superannuation fund. For more information, you can visit the website of RAMS and check their FAQ page.


Hope this helps!


Regards,

Nikki


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