Interest Rate Changes

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.

Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions available online or from any of our offices.