RAMS Fixed Rate Home Loan
RAMS Fixed Rate Home Loan Overview
The RAMS Fixed Rate Home Loan is the ideal way to protect yourself against the worry of rising interest rates. This flexible fixed rate mortgage is ideal for anyone who wants to stick to a budget without the worry of ever-changing repayments. It’s also ideal for investors who need to keep an eye on rental cash flow without ruining their rate of return.
Fixed Terms Available
RAMS allow borrowers to choose a fixed rate term that is right for their individual needs. Terms are available for 1, 2, 3, 4, 5, or 10 years.
If you believe the interest rates might fall in a year or so, you might prefer to fix in for only a year or two. However, if the interest rates are still rising, you can protect yourself against this by fixing in for a longer term of five or ten years.
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Rams Fixed Rate Home Loan |
One of the most competitive basic loans on the current market. | 6.19% | 7.44% | $595 / $20 | 95% | $15,000 / $0 |
 
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Rams Fixed Rate Home Loan – 2 Year Fixed Rate |
Enjoy no account keeping fees and the ability to make extra repayments. | 5.99% | 7.29% | $595 / $20 | 95% | $15,000 / $0 |
|
Rams Fixed Rate Home Loan – 3 Year Fixed Rate |
A low ongoing rate and interest only repayments. | 5.99% | 7.18% | $595 / $20 | 95% | $15,000 / $0 |
|
Rams Fixed Rate Home Loan – 5 Year Fixed Rate |
Borrow up to 95% of the purchase price. | 6.75% | 7.32% | $595 / $20 | 95% | $15,000 / $0 |
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Splitting Your Fixed Loan
There are times when you may not know which way you want to go – fixed or variable. In this event, RAMS will allow you to split your mortgage. You can choose to leave a portion of your home loan on a variable rate and fix the remaining portion.
This is just like hedging, as the variable portion will still be susceptible to movements in the cash rate and may move up or down, depending on the market. Yet, the fixed portion of your mortgage will remain at the same interest rate you fixed it at the beginning of the fixed term.
Interest Only or Principal and Interest
Customers are able to choose between making principal and interest repayments each month, or setting their payments to an ‘Interest Only’ option.
With Principal and Interest repayments, a portion of every payment you make is allocated to paying some of the interest due. The remainder of each payment will pay down your home loan balance. Every payment you make will steadily pay off your mortgage balance.
Interest Only payments only cover the amount of interest that has accumulated on the account. Payments made will not repay any of the borrowed mortgage amount.
Interest is calculated daily on the outstanding balance, so this means the interest payment may fluctuate in some months. For example, there will be 31 days interest due some months, but only 30 days interest due in others.
Flexible Repayment Options
Borrowers who choose the principal and interest option on their home loan have plenty of flexible repayment options. Payments can be made weekly, fortnightly or monthly.
Redraw Facility
If you have paid extra amounts into your home loan account and suddenly find you need that extra cash back again, you are able to redraw from your home loan. The minimum redraw amount allowed is $1,000. RAMS will also charge a $10 redraw fee.
Extra Repayments
RAMS Home Loans will encourage customers with a Fixed Rate Home Loan to pay extra repayments off their balance. This can be done by nominating an extra amount to pay on top of your regular repayments, or you can transfer funds electronically into your home loan from a transaction account.
RAMS will allow you to pay up to $25,000 extra off your home loan throughout the fixed rate period. If you do end up contributing more extra payments into your mortgage throughout the fixed term, penalty fees may apply.
Related posts:
- RAMS Fixed Rate Pro Pack
- RAMS Self-Employed Low Doc Fixed Rate Home Loan
- RAMS Low Rate Home Loan
- RAMS Fixed Rate
- RAMS Fixed Rate Pro Pack 2
- RAMS Rate Relief Home Loan
- ANZ Fixed Rate Home Loan (1 Year)
- Rams Fixed Rate SE Pro Pack
- RAMS Basic Loan
- ING Fixed Rate Home Loan
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
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 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
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 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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