May Interest Rate Changes
Changes to Teachers Mutual Bank Limited interest rates
Following the Reserve Bank of Australia’s (RBA) decision to increase the cash rate by 0.25%, Teachers Mutual Bank Limited has announced changes to interest rates on some home loan across Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank and UniBank.
Why are we changing interest rates?
As market conditions change, we need to adjust our rates to operate sustainably while providing value for all Members. As a Mutual Bank, we are committed to offering competitive rates on our home loans.
What’s changing?
Effective 20 May 2022, Teachers Mutual Bank Limited will increase the variable interest rate by 0.25%p.a. for the following home loans:
- Your Way Plus Variable rates
- All existing variable home loans
We will not be changing interest rates on:
- Your Way Basic Variable
- Your Way Standard Variable
Members affected by these home loan interest rate changes, will receive a communication in the coming weeks.