June Interest Rate Changes
Changes to Teachers Mutual Bank Limited interest rates in June 2023
Following the Reserve Bank of Australia’s 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.
Effective 29 June 2023, Teachers Mutual Bank Limited will increase the variable interest rates for new and existing home and residential investment loans by 0.25% 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 loans1
Effective 29 June 2023, Teachers Mutual Bank Limited will increase the variable interest rate by 0.45% p.a. for existing variable commercial loans.
From 29 June 2023, Teachers Mutual Bank Limited will increase the fixed interest rates for the following new personal loans by 0.25% p.a.
- 2, 3, 4, 5 and 6 year Fixed Rate All Purpose Personal Loans
- 3, 4, 5 and 6 year Fixed Rate Car Loans
To view all our home loan, savings products and term deposits rates, visit our websites.