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Parental Leave

You could defer repayments for up to six months, (to a maximum of 12 months), over the term of your loan; conditions apply

RAMS Parental Leave option

The RAMS Parental Leave option allows you to defer repayments on your loan for up to six months – up to a maximum of 12 months over the life of the loan. It’s our way of helping out.

Conditions and fees apply so call 13 RAMS, that's 13 7267 to see how we can help.

Parental Leave option conditions

  • Borrowers will need to make a formal request to RAMS with an updated assets and liabilities statement, with all borrowers signing the request.
  • Only available to borrowers wanting to take maternity or parental leave.
    Available to eligible customers from 12 months after starting an eligible RAMS Home Loan.
  • Usual reduced period is six months. This can be reassessed for a further six months. Shorter periods may also be taken provided the total time does not exceed 12 months over the term of the loan.
  • Borrower will need to provide evidence e.g. maternity/parental leave approval.
  • The deferred portion of repayments will be capitalised to the remaining loan principal balance.
  • Not available if the loan is for an investment property.
  • Not available during any interest only period or fixed rate period (including line of credit loans).
  • Not permitted for Fast Track Guaranteed loans.
  • The borrower must maintain a minimum of 50% of the minimum monthly P&I payments.
  • Conditions apply in relation to arrears history.
  • Other conditions and lending criteria apply.

Available on these loans

Full Feature home loan

A home loan with loads of features - offering the ultimate in flexibility, parental leave options and a competitive rate

Parental Leave Scenario

John and Katie had taken out a RAMS Home Loan two years ago and were now expecting a baby. They wanted to reduce their monthly loan repayments while Katie was on maternity leave.

RAMS says...

Having saved, they were ahead in their loan repayments and their LVR was now below 90%. And because their particular RAMS Home Loan had the Parental Leave option, John and Katie were able to halve their monthly interest only repayment for 6 months with the amount owing added to the loan’s principal.

The expectant couple were of the view that it was a small price to pay for the time they were able to share as a family without the pressure of meeting loan repayments while Katie was on maternity leave.