March Interest Rate Changes
Changes to Teachers Mutual Bank Limited interest rates in March 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 24 March 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. on the following:
- Your Way Home Loan Basic Variable
- Your Way Home Loan Standard Variable
- Your Way Plus Home Loan Variable
- All existing variable rate home loans1
To further support our Members, from 21 March 2023, Teachers Mutual Bank Limited will reduce the 4 and 5 year fixed interest rate terms for new home and residential investment loans by0.20% p.a. and 0.70% p.a. on all Your Way and Your Way Plus Fixed Home Loans.
From 21 March 2023, Teachers Mutual Bank will be introducing two new Home Loan interest rate options on Your Way Home Loan Basic Variable.
- From 5.14% p.a. for Your Way Home Loan Basic Variable with Loan to Value Ratio (LVR) up to 80%
- From 6.14% p.a. for Your Way Home Loan Basic Variable with (LVR) over 80%
To view all our home loan, savings products and term deposits rates, visit our website.