RAMS Saver account

RAMS Saver account

Maximum Variable Rate


Standard Variable Rate


This savings account doesn't charge any fees, has a competitive interest rate and requires no minimum balance.

  • No minimum balance
  • No fees
  • Covered by the government guarantee

Product details

The RAMS Saver account lets you start your savings plans right away. As mentioned above, you don't need a minimum balance in your account to get started and there are no monthly account fees charged that can eat away your hard earned savings.

This account offers one of the most competitive interest rates around.
Product Name
RAMS Saver account
Maximum Variable Rate
3.60% p.a.
Standard Variable Rate
2.00% p.a.
Bonus Variable Rate
1.60% p.a.
Introductory / Bonus Offer Conditions
Deposit at least $200 each month, make no withdrawals, and have an account balance that does not fall below $0 or exceed $250,000 at any time during the month.
Monthly Fee
Minimum Opening Deposit
Internet Banking
Internet Transaction Fee
Phone Banking
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

Features of the RAMS Saver account

  • Accessing your RAMS Saver account.You can deposit and withdraw your cash from the RAMS Saver account in several ways.You can use the secure electronic banking platform to move funds between your existing RAMS accounts. You can also transfer funds directly into your RAMS Saver account electronically from another bank or financial institution.Your payroll officer is also able to pay a portion of your salary into your savings account via a direct salary credit.
  • Interest rates. Deposit at least $200 each month, make no withdrawals, and have an account balance that does not fall below $0 or exceed $250,000 at any time during the month. to receive bonus interest rate, you can make this easier on yourself by arranging a direct deposit payment to be made. You might want to set this up at $50 per week or even $100 per fortnight, if that makes it easier for when you get paid. A direct deposit payment lets you automate your savings and ensures you won't forget to put money aside. It also makes sure you make the most of earning a higher interest rate.RAMS offers a competitive interest rate of 2.00% p.a. on your savings that is increased by a bonus rate of an extra 1.60% p.a. for sticking to your regular deposit plan.That's a potential total interest amount of 3.60% p.a. you could be earning on your savings.

Four thing things you need to know about the RAMS Saver account with Chris Thorton


I'm Chris Thornton. I'm the Head of Brand and Marketing at RAMS.

The purpose of the RAMS Saver is to reward savings activities, so to get the bonus rate we ask you to deposit $200 in the month and make no withdrawals. So for that reason it's not for your everyday transactions for that we have the RAMS Action Account. The RAMS Saver is for those people who are serious about saving. You can access the RAMS Saver Bonus Interest Amount, which today is at the top of the savings account finder tables, you can access that rate in any month that you are with the product and not just for the first few months. Even in those months where you might want to make a withdrawal, you still get a base rate which is very competitive and the following month you can go back, meet the conditions and get the high bonus rate again.

On the RAMS Saver account the interest is paid into your account on the first day of the following month. For example, if you are saving over the course of the month your interest is calculated daily, all that is added up on the first day of the following month as your interest in your account. To check on your interest payments, including whether the bonus interest rate has been applied, it's very simple you just log into MyRams on your mobile or on your desktop. It's all laid out there as a line item which tells you what the bonus rank was. The good news is there are absolutely no fees on the RAMS Saver whatsoever. There's no fees. I don't know what else to say really.

You can use any Australian deposit account to link with the RAMS Saver Account, we don't have a condition on that. You don't have to have one of our other accounts though a lot of our customers do have a RAMS Action Account as well. You can absolutely put your salary straight into the RAMS Saver Account. The RAMS Saver is valuable as a joint account, you can have one other joint account holder on the account. With the RAMS Saver Account you can have up to 10 accounts per individual.

When you set up a RAMS Saver account you have a maximum daily limit which is set at $5,000 but simply by going to MyRams you can adjust that anywhere between $1,000 to $10,000 a day. Now if you want to transfer more than that, you can still do that by contacting the Contact Centre on 13 RAMS. It's really easy to sign up for a RAMS Saver Account you do it online or on your mobile. We ask you for your name, an Australian residential address, a mobile number, and your e-mail address. With that minimum amount of information, you can open up an account and you can deposit funds into it. Now for the account to be fully transactional, we have to verify you. For the vast majority of people we are able to do that online and get people started straightaway, and to do the online verification it's the kind of information you would expect with a 100 point check. So a drivers license, medicaid card, passport number, those kinds of pieces of information. You do need to have a mobile number to open a RAMS Action or a RAMS Saver Account. We use it as part of our security processes when we set up the account and also for transactions, so that is something you'll need. You can close the RAMS Saver account at any time.


Pros and cons


  • A RAMS Saver account offers you a competitive ongoing bonus rate of interest
  • You can also access your savings easily online or on mobile 24/7
  • There are no fees or charges for this account
  • RAMS uses a range of security features to ensure a safe, online experience
  • You can change your daily transfer limit. The default limit is $5,000 per customer, per day, across all your RAMS accounts


  • No interest is paid on balances over $250,000
  • BPAY is not available on RAMS Saver accounts
  • No cheque book facility
  • You can't send funds from an overseas into your RAMS Saver


  • $0 account keeping fee

How to open a RAMS Saver account

You don't need to be an existing RAMS customer to apply. Unfortunately, if you're not a resident of Australia, you won't be eligible for this account.


You will need to be:

  • Over the age of 18 when you apply for your account
  • A personal customer (not a business, company or trust)
  • You will also need to be an Australian resident and you do need to have an Australian residential address
  • Have an Australian phone number and a working email address


  • Name
  • Address
  • Australian phone number
  • Tax File Number

Other important information

  • You can open a maximum of 10 deposit accounts, including joint accounts.
  • You don't need a linked account for the RAMS Saver.
  • There is no daily limit if you transfer your RAMS account to another that is held in your name, or for funds transfers to other Australian financial institutions whether the account is in your name or not.
  • Have an Australian phone number and a working email address.
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381 Responses to RAMS Saver Account

  1. Default Gravatar
    ian | May 25, 2015

    Joint account, is it limited to $250K?

    • Staff
      Belinda | May 26, 2015

      Hi Ian,

      Thanks for your enquiry.

      With the RAMS Saver account, you can earn the maximum variable rate of 3.60% when you deposit at least $200 each month, make no withdrawals and maintain a balance that does not fall below $0 or exceed $250 000 at any point during the month.

      Please note that your funds will be covered by the Government Guarantee up to $250 000 per person or institution.

      I hope this helps.


  2. Default Gravatar
    Ron | May 16, 2015

    Hi, I have just opened A Rams saver account the other day and was asking if i could open a second saver account. Thanks Ron

    • Staff
      Belinda | May 18, 2015

      Hi Ron,

      Thanks for your enquiry.

      You can open up to a maximum of 10 deposit accounts (inclusive of joint accounts).

      I hope this helps.


  3. Default Gravatar
    Trevor | May 6, 2015

    How long does the Bonus Variable Rate continue being added on to the Standard fate?

    • Staff
      Marc | May 8, 2015

      Hi Trevor,
      thanks for the question.

      The bonus rate is added to this account each month as long as you deposit at least $200 into the account and make no withdrawals each month.


  4. Default Gravatar
    Norma | May 6, 2015

    I’ve held an on line savings account with you in the past – if I reopen a Saver account can I still receive the bonus interest?

    • Staff
      Belinda | May 14, 2015

      Hi Norma,

      Thanks for your enquiry.

      For the RAMS Saver account, you will be eligible to earn the bonus interest if you make deposits of at least $200 into the account each month, make no withdrawals during the month, ensure the account balance does not fall below $0 or exceed $500 000 at any time during the calendar month.

      I hope this clarifies things for you.


  5. Default Gravatar
    Trevor | April 20, 2015

    Can I open a RAMS saver bonus account in my SMSF?

    • Staff
      Belinda | May 12, 2015

      Hi Trevor,

      Thanks for your enquiry.

      Unfortunately the RAMS Saver account cannot be opened through a superannuation fund.

      I hope this helps.


  6. Default Gravatar
    Roger | April 15, 2015

    I have a DIY ubank account with $200000 in it.
    It is currently paying 3% interest.

    Can I create a rams saver account , transfer the $20000 across to the new account and receive 3.8% interest.

    basically the question is – can I open a rams account in the name of my DIY super account???

    I also have $250000 in a personal account with st George that I would like to create a rams account to receive better interest

    • Staff
      Belinda | May 12, 2015

      Hi Roger,

      Thanks for your question.

      Unfortunately you cannot open a RAMS Saver account in the name of a business or company, in the name of a trustee of a trust, or in the name of a superannuation fund.

      I hope this helps.


  7. Default Gravatar
    Chris | April 14, 2015

    Where is the 3.91 Savings Account.?

    I have $500K plus to invest

    the RAMS Savings Account is paying 3.91 per cent, so long as you deposit at least $200 a month and make no withdrawals (that’s made up of a 2.61 per cent ‘base rate’ and a 1.3 per cent ‘bonus’). Then there’s the UBank Ultra account, which pays 3.77 per cent (2.71 per cent base plus a 1.06 per cent bonus if you deposit $200 a month or more).

    • Staff
      Belinda | May 12, 2015

      Hi Chris,

      Thanks for your enquiry.

      With the RAMS Saver account, they offer a maximum variable rate of 3.80% p.a. and a standard variable rate of 2.20% p.a. There is also the bonus variable rate of 1.60% p.a. which you can earn if you deposit at least $200 into the account each month, make no withdrawals and have a balance that does not fall below $0, or exceed $500 000 at any point during the month.

      For the UBank USaver Ultra account, they offer a base variable rate of 2.56%p.a. and a bonus rate of 1.06% p.a. For eligible customers, this bonus interest rate is applied to the USaver savings account linked with Ultra.

      I hope this clarifies things for you.


  8. Default Gravatar
    Lina | April 13, 2015

    If I need withdraw 200K from RAMS saver, how I can do it?
    Internet banking limit iz maximum 10K per day.

    • Staff
      Belinda | May 11, 2015

      Hi Lina,

      Thanks for your question.

      The maximum daily limit per customer for online banking is $10 000 per day. However, if you make the transfer over the phone, then no limit applies.

      In many cases, you can contact your bank to authorise a larger transaction online, or some banks may be able to temporarily increase the limit.

      I hope you find this useful.


  9. Default Gravatar
    HBR | March 20, 2015

    I am thinking of moving a sum close to the upper limit where one obtains the bonus and hence the maximum current interest at 3.9%, however am unsure about which way is the best to do this as I do not wish to lose days on interest on such a sum whilst I wait for a cheque to arrive and be cleared ? Also I do not think it a particularly safe option to send such a large cheque in the mail. Is there any way I can take a cheque into a branch in Victoria?
    I could open an online saver prior to bringing in a cheque?

    • Staff
      Shirley | March 23, 2015

      Hi HBR,

      Thanks for your question.

      Unfortunately RAMS does not offer an option where you can deposit a cheque into a branch in Victoria.

      You can deposit funds in the following ways: electronic funds transfer, direct credit and cheque through mail.

      You may want to consider the electronic funds transfer instead. You can open a RAM Saver account online before depositing funds.


  10. Default Gravatar
    Scott | March 9, 2015

    How long does it take to transfer money from your RAMS account to ANZ?

    • Staff
      Shirley | March 10, 2015

      Hi Scott,

      Thanks for your question.

      Please allow up to 3 business days for the transfer to complete.


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