Teachers Mutual Bank Limited announces changes to variable interest rates across savings and loan products

Following the decision by the Reserve Bank of Australia to increase the official cash rate by 0.25% p.a., Teachers Mutual Bank Limited will increase variable interest rates by 0.25% p.a. across its variable home loan and savings products, effective 26 March 2026*.

The increase to variable rates announced today will be applied across Teachers Mutual Bank Limited’s four retail brands - Teachers Mutual Bank, Firefighters Mutual Bank, Health Professionals Bank and UniBank.

Greg Johnson, Teachers Mutual Bank Limited’s Chief Customer Officer, said: “Today’s announcement will be welcomed by our members with savings, but will add pressure for borrowers already feeling the strain as the price of petrol and other household essentials continue to rise. 

“Australians are looking for certainty – and as a member-owned bank, we strive to deliver a fair and straightforward experience for all our members.”

“For any member who may need additional support, our Member Assist team is here to help with personalised solutions.”

Teachers Mutual Bank Limited’s featured products 

For borrowers 

• Variable home loan interest rates will increase by 0.25% p.a. for new and existing customers, effective 26 March. 

For savers 

• Starter Saver accounts will offer 5.00% p.a.^, effective 26 March 2026.  
• Seven-month term deposits will offer 4.75% p.a, effective 18 March 2026.