May Interest Rate Changes
Changes to Teachers Mutual Bank Limited interest rates in May 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 19 May 2023, Teachers Mutual Bank Limited will increase the variable interest rates by 0.25% for selected new and existing home and residential investment loans.
Effective 19 May 2023, Teachers Mutual Bank Limited will increase the variable interest rate by 0.45% p.a. for existing variable commercial loans.
To view all our home loan, savings products and term deposits rates, visit our websites.