Stashing Some Cash in between Homes

I need to stash a large sum from home sale & for future home purchase over period of 8-12 months.

Looking at Rams saver accounts and seems ideal for this situation.

I read somewhere that bonus interest not paid over $500K so would require a couple of accounts.

Is it true that bonus interest will still be paid if spread across multiple accounts? I read you can have 10 accounts (in a shared google spreadsheet posted on savings forum post) but cannot verify it in the RAMS terms and conditions documentation.

Any other ideas?



  • +20 votes

    From the title I thought you meant 'under the mattress' stashing

  • +5 votes

    From the title I thought you meant 'hide in the wall' stashing


    You'd be best speaking to the bank directly.

    Also consider term deposits - you might get a slightly better return.


    was hoping this was going to burying money in the backyard or something


    Why don't you ask RAMS?

    Had a quick look at the bonus interest terms and they all reference a single account balance. Nothing about your other accounts or combined balance. So it looks like this is fine.

    That does seem like the best option. How much money is it total?


    citibank investment

  • +3 votes

    Call your bank, tell them how much you've got and when you need it back, and ask them what they can do for you.

    Then, call some other bank and ask them the same thing.

    Repeat until you find the best deal.

  • -3 votes

    I just like to see things in writing.

    I have confirmed over the phone that you can open 10 accounts and so long as you meet the conditions for each account (no withdrawals, $200 deposit) then you will get the interest.

    Only similar offer is the Citibank 6 month term deposit.

    • +2 votes

      So you're wasting everyones time here then, as you spoke to RAMS and they confirmed what you wanted to know already….


        Everybody knows you need to make the obligatory OzBargain thread prior to any major monetary commitment.


    Yes, the limit is based on per account, not per customer.

    Never tested the boundaries :-), however have had small sums in more than 1 account. And they both receive the bonus interest.

  • +2 votes

    All the answers to these questions are clearly listed on the rams website…..

    and GASP the rams website even has a online chat help too


    HSBC have a savings account that comes with an introductory 3% interest rate (variable) for 4months up to $1mil, seems to have less conditions if you're looking at something else that's comparable


    From the title I thought you meant 'hide in the toilet' stashing.

  • +1 vote

    Half rams, half ubank

  • +2 votes

    Actually quite a good idea, as joungs said above, to spread your funds across different banks. As unlikely as it is for a bank to fail, spreading across different banks meant that more of your funds are covered by the Australian government's guarantee on deposit which is currently $250K per ADI. Rams is part of Westpac and Ubank part of NAB.

  • +1 vote

    Put it all on red


    Buy ten 80k investment cars 😀

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