Home lender to dip into savings

Home lender to dip into savings

Tags: Mortgage RAMS now has a foot in both sides of funds business after launching an online savings account.

home loan specialist, owned by Westpac, yesterday said it will offer savings accounts for new customers in a move that will help to provide support for its mortgage business.

It comes three weeks after Westpac chief Gail Kelly said the group will push more confidence in the deposit market, and describes it as a “war zone”.

Melos Sulicich RAMS chief said the initiative was in response to requests from clients to improve their services.

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

It also sets had to have contact with their customers over a longer period.

savings accounts is expected to attract first home buyers and saving for a mortgage payment, which can then be borrowers.

Adam Bey, an economic analyst at market research firm Canstar, said that pot ential customers need to compare terms and interest on savings accounts and transactions had with others on the market.

“is certainly a long overdue approach to Rams to generate some funds,” said Mr Beg.

“There is another way to attract customers, especially customers new and first home buyers, or those saving for a deposit.”

Mr. Sulicich said about 70 percent of mortgages had generated online, with Australians more and more financial transactions online.