We knew it was coming!
We're writing to let you know that the RAMS Saver bonus rate will change to the new rates below, effective Friday 21 June 2019. The bonus rate is decreasing by 0.25% p.a. There is no change to the base rate.
Account Balance Base Rate (variable) Bonus Rate (variable) Rate with bonus*
$0 - $500,000 1.15% p.a. 1.40% p.a. 2.55% p.a.
$500,000.01 - $5,000,000 1.15% p.a. 0.00% p.a. 1.15% p.a.
$5,000,000.01+ 0.00% p.a. 0.00% p.a. 0.00% p.a.
The interest rate will apply to the whole balance per account. Please note, your interest is calculated daily and paid monthly, so you will receive the old rate up until 20 June 2019, then the new rate for the remaining days of the month.
What this means for you
The rate details of your RAMS Saver account will change from Friday 21 June 2019 - you'll earn a total variable rate of 2.55% p.a. (that's the variable base rate of 1.15% p.a. plus variable 1.40% p.a. bonus) when the bonus eligibility criteria are met.