Rams deposit rate best in Westpac mix

Westpac has begun to offer deposit products to customers of its Rams Home Loan brand, a step foreshadowed three months ago.

The single deposit product, which is restricted for now to existing customers, became available in December the Financial Review reported. The bank will make the product more widely available in coming months.

The ongoing rate on the Rams at call deposit is 5.0 per cent, which compares with 4.25 per cent from the best product under Westpac's main brand, 4.25 per cent with the ST George and Bank of Melbourne brands and 4.85 per cent with BankSA.