Teachers Mutual Bank cuts variable rates by up to 0.25%pa Teachers Mutual Bank has responded to the recent RBA rate cut by dropping its variable home loan rates by up to 0.25%pa. Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Media releases Media releases 2015 Teachers Mutual Bank cuts variable rates by up to 0.25%pa 12 May 2015 12 May 2015 Teachers Mutual Bank cuts variable rates by up to 0.25%pa Teachers Mutual Bank has responded to the recent RBA rate cut by dropping its variable home loan rates by up to 0.25%pa. This will bring Teachers Mutual Bank’s Solutions Plus Home Loan variable rate to as low as 4.47% pa (comparison rate 4.72% pa). Solutions Plus Home Loan New Rate Comparison Rate Rate Change $150,000 - $249,999 4.77% pa 5.02% pa -0.21%pa $250,000 - $499,999 4.57% pa 4.82% pa -0.25%pa $500,000 - $749,999 4.54% pa 4.79% pa -0.10%pa $750,000 + 4.47% pa 4.72% pa -0.15%pa Teachers Mutual Bank has also taken 0.20% off its Standard Variable Rate (Teachers Flexi Choice Home Loan), upholding the mutual’s pricing promise, which aims to keep the SVR below the four majors. The new interest rates take effect for new loans from 18 May 2015, and from 1 June 2015 for all existing loans. Note: When Teachers Mutual Bank makes rate changes, this occurs on the 1st of the month for existing members, irrespective of whether rates are moving up or down. Further information: Gillian Tatt, Corporate Affairs Manager at Teachers Mutual Bank on 0448 259 942 *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. Back to top.