June 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 0.50%, Teachers Mutual Bank Limited has changed interest rates on some variable rate home loans 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.
Effective 24 June 2022, Teachers Mutual Bank Limited will increase the variable interest rate by 0.50%p.a. for the following home loans:
- Your Way Basic Variable
- Your Way Standard Variable
- Your Way Plus Variable
- All existing variable home loans1
Members affected by these home loan interest rate changes, will receive a communication in the coming weeks.