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  • Money Magazine

    Floats without fears

    May 26, 2021 4 minutes
    STORY GREG HOFFMAN

    ‘Dear Gregory, the RAMS saver bonus rate will change to the new rate below …” Emails kicking off with this deflating news have arrived in my inbox with depressing monotony over the past few years.

    In2019,RAMS waspayingthe hardlyinspiring (but still competitive) rate of 1.15% plus 1.4% bonus interest if certain conditions were met, for a total of 2.55%. With this latest missive, the rate is now 0.1% plus 0.05% conditional bonus, for the grand total of 0.15% (the bonus rate was slashed from 0.45%).

    Contrast that with the almost 200% return for those who bought Airtasker shares in its float and sold on its first day of listing. It’s chalk and cheese.

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