Following Reserve Bank of Australia’s decision to increase the cash rate by 0.50%. RAMS will increase home loan variable interest rates by 0.50% for new and existing customers effective 18 Aug 2022
  • Whether a first-time buyer or self-employed, a RAMS home loan has flexible options to make the loan work better for you.

  • Offset accounts

    You could save by reducing the interest payable on your home loan

    • An offset account is an everyday banking account which is linked to your variable rate home loan. Any money in this account is offset daily against your outstanding loan balance, reducing the interest payable on the home loan. 

      Here’s an example:

      • Let’s say your offset account has a balance of $40,000.
      • And you owe $400,000 on your mortgage.
      • The amount on which you pay interest is $360,000 ($400,000 - $40,000).
      • As your offset acts as an everyday account, you can still access the $40,000 when you need it.

      Four key features: RAMS offset account  

      • 24/7 account access via myRAMS online banking - to easily monitor and manage your savings.
      • With your debit card, you can use it to make ATM transactions at any ATM# around Australia
      • Easy everyday transactions with eftpos Tap & PayTM.
      • No account fees - view RAMS deposit fees and charges.


      You need to have an eligible RAMS home loan to link to your RAMS Action with Offset account.

      Other eligibility criteria:

      • Not available to companies and trusts.
      • Must be an Australian resident for taxation purposes with an Australian residential address.
      • Must hold a valid email address and Australian mobile phone number.

      How to apply


      Note: The offset facility is not available to company or trust borrowers, while your loan is on a fixed interest rate, or on RAMS line of credit loans.

    • Full feature home loan

      An all-in-one home loan with a transaction account, redraw option and ability to deposit salary stra...

    • Offset scenario

      Chloe and James have a $400,000 Home Loan and $40,000 in a RAMS Action with Offset account. The interest rate payable on their home loan is 4.5% p.a. Due to the offset account being linked to their home loan, the amount on which they pay interest is $360,000 ($400,000 - $40,000), which results in an interest charge of $1,376 for the month*. This is $152 less than they would have paid without the offset facility. The good thing is, the money sitting in their offset is easily accessible when required, as it is a transaction account.

    • Apply online via myRAMS

      (for existing customers only)

      Opening an offset account is simple.

       Apply for offset account

      What information do I need upfront?

      Apart from personal information such as name, date of birth and Australian residential address, you’ll also need to provide:  

      • Australian mobile phone number 
      • Driver’s licence details (optional) 
      • Tax file number or exemption code (this is optional but if you choose not to provide it, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare levy)  

        We can even try to verify your identity online so you may not need to provide any or all paperwork. 


  • Home loan calculators

    How much you could save by making additional repayment(s)

    % p.a.

    Total interest saved

    ${{[0].calculators.extraLumpSum.saving.interest | number:2}}

    You could pay off your loan in


    Total interest saved

    ${{[0].calculators.extraLumpSum.saving.interest | number:2}}

    You could pay off your loan in


    Have you considered how much you could save by using an offset account?

    How much you could save by using an offset account?

    % p.a.

    Total interest saved on your home loan

    ${{[0].calculators.offset.saving.interest | number:0}}

    You could also unlock equity to borrow more

    How much equity you could unlock to borrow more


    You could unlock useable equity

    ${{[0].calculators.unlockEquity.result | number:0}}

    You may be able to borrow more but Lender's mortgage insurance may be applicable.

    Your repayment could be

    ${{[0].calculators.unlockEquity.repayments.tempOngoing | number:0}} a

    This would be your new repayment if you unlock all of your useable equity.

    You need to apply to increase your home loan in order to access useable equity. Applications are subject to RAMS credit criteria, and fees and charges apply.

    Want to find out more about your home loan options?

  • Blogs and videos for home buyers

    While negative gearing an investment property has potential tax benefits, it's not a strategy for everybody. RAMS explains the ins and outs.
    Offset accounts are transaction accounts linked to your home loans which can help to reduce the amount of interest that you pay on your home loan
    When you get a home loan you can roll other debts with higher interest rates - such as personal loans - into your home loan to make payments easier to manage.
  • Things you should know:

    # Some institutions may charge a fee for use of their ATMs.

    * Assumes a 31 day month and no withdrawals or other transactions on the account during the month.

    Read the RAMS Deposit Terms and Conditions, RAMS Deposit Products Fees and Charges before making a decision and consider whether the product is appropriate for you. Must be 18 or older and an Australian resident.

    RAMS Financial Group Pty Ltd ABN 30 105 207 538 AR 405465 Australian credit licence 388065 promotes and distributes RAMS deposit products as an authorised representative of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. Westpac is the credit provider for RAMS home loans and the issuer of RAMS deposit products.