• RAMS Saver

    RAMS Saver is a completely online savings account, easily managed via myRAMS where you can deposit, withdraw and transfer funds.

    • RAMS Saver account interest rates - effective 2 February 2021

      Balance Amount Variable base interest Variable bonus interest Total variable interest
       $0-$500,000 0.10% p.a. 0.05% p.a.1 0.15% p.a.
      $500,000.01-$5,000,000 0.10% p.a. 0.00% p.a. 0.10% p.a.
      $5,000,000.01+ 0.00% p.a. 0.00% p.a. 0.00% p.a.
       1Deposit at least $200 each month and make no withdrawals

    • Everyone deserves a bonus 

      To earn the bonus 0.05% p.a. variable interest on top of the variable base rate, just:  

      • Deposit at least $200 during the month 
      • Make no withdrawals during that month 
      • Keep your balance between $200 - $500,000 for the month*

      Monitor and manage securely online with myRAMS^  

      • Deposit funds – via online transfers to/from any Australian bank; direct salary credit, recurring payments, or between other RAMS accounts
      • Track and manage – view transactions, balances and interest earned, change personal details 
      • Go mobile – do it all on the go with anywhere, anytime convenience  

      Like to know more?

      Contact us for more information.

    • Eligibility criteria

      • Be natural person individuals (non-trustees) aged 18 and over only
      • Register or be registered for RAMS online banking
      • Be an Australian resident for taxation purposes with an Australian residential address
      • Hold a valid email address and Australian mobile phone number

      • If you are a new customer, you can apply for a RAMS Saver online.

        If you are an existing RAMS customer, you can open the RAMS Saver account by logging into myRAMS using your Customer Identification Number (CIN) and password. From there simply click on “Apply Online” in the left hand menu and follow the prompts. You can open your account in as little as 1 minute.

        If you are an existing customer and currently do not have access to myRAMS, please call us on 13 RAMS, that's 13 7267.

        See our Contact us page for opening hours and mailing address.

      • Yes, you can open an account with one other individual.

      • RAMS does not have any branches and you cannot deposit money into y our RAMS Saver account at a RAMS Home Loan Centre. However you can deposit funds into your RAMS Saver by:

        • Electronic Funds Transfer – you can transfer funds from any Australian bank account. You will need to provide the BSB number for RAMS (which is 032885) and your RAMS Saver account number.
        • Direct credit e.g. salary credit – you can have your salary credited directly into your RAMS Saver. You will need to provide your employer with the BSB number for RAMS (which is 032885) and your RAMS Saver account number.
        • Cheque – you can deposit a cheque payable to the account holder(s) and drawn on an Australian financial institution. Please ensure you write your full name(s) and the account number to which you wish the cheque to be deposited on the back of the cheque. Please note we can't accept a third party cheque i.e. a cheque made payable to another person other than the account holder(s). Mail the cheque to:

        RAMS Deposits
        Locked Bag 5001
        Concord West NSW 2138

        Note: Regular payments cannot be made from Westpac Accounts.

      • The FCS limit of $250,000 applies to the sum of an account holder's deposits under the one banking license.

        Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name. 

        The limit applies per customer per banking licence. That is, the limit applies to the combined total amount of funds you have with Westpac, Bank of Melbourne, St.George Bank, BankSA, RAMS  (including any other eligible deposit products that are issued by WBC but distributed by third parties under their own brands), because these funds are held under a single WBC banking licence. 

      • You can find out more information about the various brands and products offered under the WBC banking licence and covered by the FCS by contacting WBC directly.

        Further Information on the FCS is also available on the FCS website - www.fcs.gov.au


  • *No bonus interest of 0.05% p.a. is earned if account balance is above $500,000.  Base rate will be earned if balance is above $500,000, up to $5 million.  No interest is earned if account balance is above $5 million.

    ^ Subject to system availability.

    Please refer to the RAMS Deposit Accounts Terms and Conditions and RAMS Deposit Rates and Fees.