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RAMS Online Savings Account Increases to 4.92%


Just received an email from RAMS that their online savings account interest rate will increase from 6th March to 4.92%. This is not a welcome rate but ongoing as long as you deposit at least $200 each month and make no withdrawal. This is available for balances up to $500k (ubank is $200k… What a problem to have I guess)

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RAMS Home Loan

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  • +1

    And you can get 5.10% from here:

    Now this is starting to get stupid. Someone puts up a value and it's so easy to beat the value, unless it's ME Bank's 5.10%.

    Perhaps check a comparison site and ensure you're higher than 5.1% before posting anything.

    • +1

      This rate and the one above are both 'welcome' rates unlike the RAMS deal which is an ongoing rate.

      • I agree that MEBank is a welcome rate but that's till December 2013. So that's locked in at least till then.

        RAMS is also a Variable rate and may change even before December.

        • +4

          ME Bank term is:

          "5.10% p.a.* Includes 1.60% p.a. for 12 months* plus 3.50% p.a. Variable Base Rate"

          The base rate is variable, so not locked till Dec 2013.

          Plus you must get a Everyday Transaction account from them too, too much hassle for some.

        • +1

          Exactly. And if my experience with rabodirect is anything to go by, the rate will fall, several times throughout the year.

      • -1

        it is a welcome rate, but it is for 12 months. at the moment it is the best.

  • +5

    0.01% better than uBank but you can't make any withdrawals…. personally I'll take the 0.01% less for the increased flexibility (plus make a withdrawal and you write off that difference for a couple of years anyway)

  • +2

    Currently UBank and RAMS, in that order, are the places to put your money to avoid the Welcome rate merry go round.

  • With INGdirect you get $50 for new customers

    • link?

      • +1


  • +2

    i gave this a +ve but personally despise the "no withdrawals" catch. might as well just get a bloody term deposit -_-

    • check the term deposit rates first :)

      (pretty crap at the mo)

      • +1

        if i wanted to lock it in for 5 years, Rabo have got some reasonably good rates.

        but first, i'm going to bounce my money around getting the best rate until i've run out of banks

        • until i've run out of banks

          Amen to that!
          (though I've lost count of how many ING accounts I've opened & closed for each welcome bonus)

        • doesn't that end up looking bad on your file if you're doing this?

        • what file?
          my credit file?

          i wasn't aware savings accounts had any bearing on your credit rating i.e. not applying for credit.

        • What are They going to do? Credit me?

        • No….it won't affect your credit rating with Veda….they only record "credit products" such as credit cards, mortgages & the like. If you change CC's a lot you get put in the "Credit card Rate Tart" category!! ;->))

  • +2

    The RAMS website is "down for maintenance" for a few hours almost every single night. No idea what the <MOD> Removed foul language they're doing.

    • +1

      +1 for spelling "maintenance" correctly

      Just kidding

      +1 for your attitude

    • Why the hell do you need to login to Rams every night with an account you can't withdraw from anyways? (without loosing bonus interest).

  • Why not stash your money in the highest interest savings account available (ie. mebank) and move to a better account when you're no longer welcome?
    Don't be lazy.

  • It's 4.82 on the website ATM….. bloody hell does the variable portion variate that frequently??? …. in 5 hours its lost 0.1%

    Edit: Ok ignore that I see the 4.92% kicks in 6 March.

  • That's great! I was planning on moving from Rams to Ubank so this saves me the hassle.

    • C'arn… 0.18% more with mebank for 12 months*
      * subject to change

  • I believe this offer I'd for 18 and over?
    Any good offers for long term saving accounts for my new born?

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