TMB announces its lowest home loan rate in 40 years

Teachers Mutual Bank has cut rates across all of its fixed home loan products, bringing its 3 year rate down to a highly competitive 4.09%pa (comparison rate 5.10%pa*) – the lowest rate offered by the mutual bank in 40 years.

  • 1 March 2015

    Teachers Mutual Bank announces its lowest home loan rate in 40 years

    Teachers Mutual Bank has cut rates across all of its fixed home loan products, bringing its 3 year rate down to a highly competitive 4.09%pa (comparison rate 5.10%pa*) – the lowest rate offered by the mutual bank in 40 years.

    “We have cut all of our fixed rate home loan products by up to 53 basis points, bringing our popular 3 year home loan product down to one of the lowest interest rates on the market,” said Steve James, CEO of Teachers Mutual Bank.    

    “These incredible rates are perfect for those who want to take advantage of the low rate environment, with the added security of fixed interest.” 

    If you thought the deal couldn’t get any sweeter, Teachers Mutual Bank is also waiving application and settlement fees on its 3 year fixed rate home loan until the end of June, representing a saving of $750.

    “As we expand our reach throughout the education sector we remain committed to providing highly competitive rates, great value products and an excellent member experience” said Steve James.

    All Teachers Mutual Bank home loans feature a 100% offset facility.

    Fixed Options  Old Rate New Rate  Change Comparison Rate*
    1 Year Fixed  4.58% 4.15% pa  -0.43% 5.40% pa
    2 Year Fixed  4.68% 4.15% pa  -0.53% 5.28% pa
    3 Year Fixed  4.58% 4.09% pa  -0.49% 5.10% pa
    4 Year Fixed  4.68% 4.45% pa  -0.23% 5.17% pa
    5 Year Fixed   4.75%  4.45%pa  -0.30% 5.10%pa 

    Rates are effective as of the 1st March 2015. Membership eligibility applies.

    *Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates quoted are based on $150,000 for a term of 25 years. Rates apply to secured loans only. The 3 year Teachers Fixed Option home loan comparison rate relates to the home loan fee waiver promotion which commences on 1st March 2015 and ends on 30th June 2015. 

    All conditions of the promotion must be met including that the loan is fully funded by 31st August 2015. For full details of the promotion see tmbank.com.au/fixed. Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian Credit Licence 238981

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