RAMS Savings Accounts

RAMS is a provider of savings accounts, as well as other banking solutions such as loans, transaction accounts and insurance.

Compare RAMS savings accounts

Considering a savings account from RAMS? The table below displays a snapshot of RAMS savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver profile in NSW with $10,000 in current savings.

To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here. Or you can search our database for a savings account to suit your needs.

Compare Savings Accounts

What savings accounts does RAMS offer?

RAMS offers the following savings accounts at the time of writing:

RAMS Saver

RAMS Saver is an online savings account. It offers bonus interest for account-holders who deposit at least $200 a month and make no withdrawals with balances between $200 and $500,000. 

You can view the current interest rates on RAMS savings accounts in our comparison tables.

Do RAMS savings accounts require a linked transaction account?

No, RAMS does require a linked transaction account for its savings account.

Does RAMS charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more.

No fees are listed by RAMS for its savings account at the time of writing.

For current information on fees and how they apply, please check the Product Disclosure Statement (PDS).

What does RAMS offer in terms of mobile banking for savings accounts?

RAMS offers both online and mobile banking for its savings products, with its app available in both the Apple and Google store. Notable features of RAMS’s mobile banking include:

  • Check account balances and transactions
  • Transfer money between accounts

How to apply for a RAMS savings account

Before applying for a RAMS savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you. You can then apply for a RAMS savings account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license or passport
  • Accurate personal information, such as your name, date of birth, address and phone number

Once your account is opened, RAMS may require you to transfer in a minimum amount before your account can be activated – check the PDS document for more information on how much you might need to deposit.

Related article: How to change bank accounts

Eligibility requirements

To be eligible for a RAMS savings account, you may have to meet certain requirements. For example:

  • Be an Australian resident for taxation purposes with an Australian residential address
  • Be 18 years of age or over
  • Hold a valid email address and Australian mobile phone number

What other banking products does RAMS provide?

RAMS provides several different products to consumers, including:

  • Loans
  • Insurance
  • Transactions Accounts

About RAMS

Originally established in 1995 as the Registered Australian Mortgage Securities, RAMS launched its savings and transaction accounts in 2012.

The RAMS brand and distribution business was bought by Westpac Banking Corporation in 2008.

Written by: Maddie Clarey | Last updated: August 27, 2018