New Era for RAMS with the Launch of Online Deposits

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RAMS today announced it has expanded its product offering to include online deposit accounts for new customers for the first time.



High interest saver offers highest rate in the market

RAMS now offers RAMS Saver, a high interest savings account with the highest bonus variable interest rate currently available in the market, at 5.75% p.a. and a high base variable rate of 4.95% p.a., and RAMS Action, a transaction account with optional linked mortgage offset.

In the tradition of being known as a challenger brand and for bringing great home loan rates to Australians, RAMS Chief Executive, Melos Sulicich said the leading home lender was entering a new era, delivering a genuine alternative in the market for Australians who want a simple and real deal.

RAMS Chief Executive, Melos Sulicich said by looking after customers better and giving them more options, RAMS is building a more sustainable business through deeper relationships with more customers that stay longer.

“We have listened to our customers who have told us online savings accounts, transaction accounts and offset accounts are a big priority to help them to save money and pay off their home loan faster,” Mr Sulicich said.

“Not only does the RAMS Saver bring truly great interest rates to reward Australians who save, customers will be able to have fast and simple direct access to their savings account. We are launching with innovative online technology which electronically verifies the identity of the applicant and sets up a new account, ready for use within a just few minutes.”

“As more and more Australians are shopping through the internet, using hand-held online devices and seeking to do their personal banking at a time that is convenient for them, it naturally makes good business sense to offer simple and fast access to deposits online for our customers,” he said.

“Our experience also shows more than 70% of customer leads for RAMS home loans are generated online. However, customers have told us they still value the face to face, expert service involved in more complex purchases like home loans.

“The RAMS Saver bonus variable interest rate of 5.75%p.a. demonstrates our commitment to bringing Australians a better deal and ensures that they have the opportunity to grow their money further. The RAMS Saver account is a very simple way to help Aussies use their money more wisely, more efficiently and drive their dollar further so they get the most back in return,” he said.

Following intensive customer segmentation research and analysis throughout the past 18 months, RAMS has revamped its brand and identity including renaming from RAMS Home Loans to simply RAMS and ‘beefing up’ its brand identity Raymond A Ram to better reflect the expanding product portfolio.

RAMS will unveil a new advertising campaign to support the RAMS Saver launch including national television commercials with an animated CGI (computer generated image) of Raymond A Ram to be screened during prime time from Sunday 27 May 2012.

RAMS continues to provide simple, flexible home loan options to first home buyers, investors and self-employed target markets through a localised network of 58 owner-operated franchisees and nearly 70 Home Loan Centres nationally.

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For further information, please contact: RAMS Media Relations - Melanie Monico on (61) (2) 8218 6359

About RAMS Deposit Products:

  •     RAMS Saver (high interest savings account) is an online savings account that pays a high rate of return, with interest calculated daily and paid monthly. It offers a bonus variable interest rate, currently 5.75% p.a. and a high base variable rate of 4.95% p.a. The bonus rate is designed to reward customers who save. If a customer deposits a minimum of $200 per month, makes no withdrawals, keeps the account open for the whole month and does not have more than $500,000 in the account, they qualify for the bonus rate (currently 5.75% p.a.) however it they do not meet this minimum requirement they still qualify for the high base variable rate, currently 4.95%p.a.
  •     RAMS Action (transaction account) has optional debit card access and unlimited transactions for 24 hour easy transfers with debit cards that can be used at any ATMs (no fees if used at an ATM in the RAMS ATM Alliance. The RAMS ATM Alliance includes Westpac, St.George (excluding St.George ATMs in BP service stations), Bank of Melbourne and BankSA branded ATMs. Other institutions may charge a fee for use of their ATMs.
  •     RAMS Action with offset account can be linked to an eligible RAMS Home Loan, providing 100% offset so customers can use their savings to help reduce the amount of interest they pay on their eligible RAMS home loan.

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