RAMS Self-Employed Variable Home Loan review

Enjoy a simple application process and a discounted interest rate when you borrow up to 70% loan-to-value ratio (LVR) with a RAMS Self-Employed Variable Home Loan.

A crucial part of the home loan application process is providing proof of income in the form of payslips, tax assessment notices and the like. But providing that evidence can be difficult when you’re self-employed and your income fluctuates regularly.

The RAMS Self-Employed Variable Home Loan offers a simple application process and waives many of the usual proof-of-income requirements. You can make unlimited additional repayments and then redraw from those repayments at any time, while those who borrow up to 70% LVR can take advantage of a discounted variable rate.
RAMS Self-Employed Fixed Rate Home Loan

Interest Rate Max Insured LVR Max LVR
up to $149,999 LVR < = 70% (Investor, P&I)
5.87% p.a.
Comparison Rate
6.16% p.a.
70% 70%
up to $149,999 LVR > 70% (Investor, P&I)
6.12% p.a.
Comparison Rate
6.40% p.a.
80% 70%
up to to $149,999 LVR <=70% (Investor, IO)
6.41% p.a.
Comparison Rate
6.69% p.a.
70% 70%
up to to $149,999 LVR <=70% (Owner Occupier, IO)
5.95% p.a.
Comparison Rate
6.23% p.a.
70% 70%
up to to $149,999 LVR > 70% (Investor, IO)
6.66% p.a.
Comparison Rate
6.94% p.a.
80% 70%
Without package LVR <=70% Discounted (Owner Occupier, P&I)
5.36% p.a.
Comparison Rate
5.65% p.a.
70% 70%
Without package LVR 70% to 80% (Owner Occupier, IO)
6.2% p.a.
Comparison Rate
6.48% p.a.
80% 70%
Without package LVR 70% to 80% (Owner Occupier, P&I)
5.61% p.a.
Comparison Rate
5.90% p.a.
80% 80%
Product NameRAMS Self-Employed Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$15,000
Maximum Loan Amount$1,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$595
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$20 monthly ($240 p.a.)
Settlement Fee$285
Discharge Fee$295


  • Borrow up to 80% LVR
  • Interest only options
  • First valuation is free


  • Application fee of $595
  • Monthly fee of $20
  • Settlement fee of $285

Who is RAMS?

RAMS is a subsidiary of the Westpac Group, offering a range of competitive financial products with the backing of one of Australia's largest banks. RAMS has been offering flexible and affordable home loans since 1995.

What you should know about the RAMS Self-Employed Variable Home Loan?

The RAMS Self-Employed Variable Home Loan is a low-doc loan that can be used for either owner-occupier or investment purchases. A construction option is also available for borrowers looking to build or renovate.

With a maximum LVR of 80%, the RAMS Self-Employed Variable Home Loan allows you to avoid Lender’s Mortgage Insurance (LMI). There’s also no limit when it comes to making additional repayments towards your loan and you can access those extra payments for free through a redraw facility at any time.

If the security of a fixed rate sounds right for you, RAMS also offers its Self-Employed Fixed Rate Home Loan.

Features of the RAMS Self-Employed Variable Home Loan

  • Maximum loan amount. The maximum you can borrow with the RAMS Self-Employed Variable Home Loan varies depending on your LVR. If your LVR is 70% or less, you can access up to $1,500,000. If your LVR is greater than 70%, the maximum loan amount drops to $1 million.
  • Maximum LVR. A maximum LVR of 80% applies to both owner-occupiers and investors, which means that you will not have to take out lender’s mortgage insurance (LMI).
  • Offset account. While an offset account is not offered as standard, the RAMS Self-Employed Variable Home Loan can be linked with a 100% offset account in order to reduce the amount of interest you have to pay on your loan.
  • Repayment options. You can choose between a weekly, fortnightly or monthly repayment schedule, and you can also opt to make interest-only repayments for one to five years or 10 years.
  • Additional repayments. You can make additional repayments towards your loan at any time. This allows you to get out of debt and own your home as quickly as possible.
  • Redraw facility. The RAMS Self-Employed Variable Home Loan allows you to access your extra repayments at any time. You are allowed unlimited free redraws and there is no minimum redraw amount.
  • Loan splitting. You can split your loan into two accounts to take advantage of both a variable and a fixed interest rate.
  • Value Advantage Package. This loan is also available with the Value Advantage Package, which entitles you to a discounted interest rate for an annual fee.


  • Account-keeping fee: $20 per month. This is a fee that covers the general upkeep of your loan accounts.
  • Application fee: $595. This one-off fee covers the expenses of preparing and processing your loan approval.
  • Discharge fee: $295. You’ll need to pay this fee when your loan is discharged.
  • Loan settlement fee: $285. This fee is payable upon the settlement of your property.

How to apply for the RAMS Self-Employed Variable Home Loan

To find out more about the RAMS Self-Employed Variable Home Loan, go to the RAMS Home Loans website. You then have two options:

  • You can fill out a form to arrange a time for a RAMS home loan expert to visit you. You will need to provide your name, postcode, contact details, borrowing needs and employment status.
  • You can request a phone call from a RAMS home loan expert. All you need to do is enter your state and your phone number.

In order to apply for this loan you will need to be 18 years or older, self-employed and an Australian or New Zealand citizen or permanent resident. You will also need to supply a Borrower Certificate of Income declaration or a letter from your accountant outlining your income details.

You can also use the form on this page to reach out to a mortgage broker who can assist you with going through the application process with RAMS.

The RAMS Self-Employed Variable Home Loan offers a borrowing solution that’s worth considering for self-employed applicants. Compare its features against those of other low-doc loans at finder.com.au today.

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RAMS Self-Employed Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $595 / $20

  • Max LVR


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