MEDIA RELEASE

17 February 2012

RAMS increases its variable home loan rates

RAMS announced today that it will increase its variable interest rates by 0.10% per annum effective from Tuesday 21 February 2012. RAMS' new standard variable rate will be 7.28% per annum. 

"It’s important for the Australian economy and our customers for RAMS to remain a strong and viable business. This is why we have made the difficult decision to increase our variable home loan rates," said Melos Sulicich, Chief Executive, RAMS.

Mr Sulicich explained that RAMS customers have a range of options including splitting their home loan between fixed and variable rates, as well as other flexible home loans. RAMS has some of the most competitive home loan rates in the market.

"While we accept that this decision will be challenging for some customers, we encourage customers to talk to us about their needs so we can ensure they have the solution that is right for them," said Melos Sulicich.

RAMS’ Standard Variable Rate is lower than the big four and has been continuously for the last four years.

For more information, advice or assistance relating to existing home loans customers can contact RAMS on 13 RAMS - that’s 13 7267.

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 For further information, please contact: RAMS Media Relations, Nigel Lopez-McBean on (02) 8218 6359, 0429 721 804