December Interest Rate Changes
Changes to Teachers Mutual Bank Limited interest rates in December 2022
Following the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25% per annum (p.a.), Teachers Mutual Bank Limited will change interest rates on some of our loan products across Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank and UniBank.
Why are we changing interest rates?
As market conditions change, as a Mutual Bank we need to adjust our rates to operate sustainably while providing value for all Members.
What’s changing?
Effective 20 December 2022, Teachers Mutual Bank Limited will increase the variable interest rates for new and existing home and residential investment loans between 0.25% p.a. and 0.45% p.a. for the following:
- Your Way Home Loan Basic Variable
- Your Way Home Loan Standard Variable
- Your Way Plus Loan Variable
- All existing variable rate home loans
Effective 20 December 2022, Teachers Mutual Bank Limited will increase the variable interest rate by 0.45% p.a. for existing variable commercial loans.
To view all our home loan, savings products and term deposits rates, visit our website.