Our banking and savings accounts can help you take control of your money, giving you financial freedom today, tomorrow and in the future.

Savings accounts

  • Online Savings account

    A high-interest online savings account linked to your online banking to provide unlimited access to your money.

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    • $0 access fee
    • No minimum balance
    • Open an Online Savings account in a matter of minutes
  • Mighty Saver account

    Savings made simple. A specialised account for savers under 18 years of age at the time of account opening.

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    • $0 access fee
    • No minimum balance
    • Certified responsible investment deposit product
  • Pension Advantage account

    Sensible savings for Australians receiving income from a government pension.

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    • $0 access fee
    • No minimum balance
    • Avoid and minimise your fees
  • Edvest Cash Management account

    A classic savings account for those who want easy access to their money.

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    • No minimum balance
    • Added benefits for Edvest members
    • $30 p.a. Edvest Membership charge
A promo image for Teachers Mutual Bank's podcast series Better Money Management with host Betsy Westcott.

Resources to help you save

Join the fast-track to financial independence with our dedicated podcast and webinar series. Whether you’re looking to brush up on budgeting, get informed about investing, or simply want to build your financial knowledge base, these episodes are packed with useful information to help you reach your goals.

You can join hosts Alan Waugh (Teachers Mutual Bank’s Chief Sales Officer), and Betsy Westcott (a qualified financial coach) whenever and wherever is most convenient for you.

Get savings savvy with our podcast series

Join host, Alan Waugh, Chief Sales Officer at Teachers Mutual Bank, and financial coach Betsy Westcott. In our Better Money Management podcast series, we'll cover essential topics including budgeting, saving, and being credit healthy. 

In this Savings episode, we talk about why saving is a key part of financial wellness, where we talk about the importance of saving goals/saving strategies and getting set for success with a savings plan.

If you haven’t joined Teachers Mutual Bank yet

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What do I need to open an account?

Members can open a new bank account through Internet Banking. All we’ll need is a few ID documents, some personal details, and a few minutes of your time to fill out an application form.

If you’re not a Member already, you’ll need to join first. You can find more information about becoming a member here.

How can I deposit and withdraw funds?

Teachers Mutual Bank offers a variety of ways to make transactions. You can deposit or withdraw funds via Internet Banking, our Mobile Banking App, through your Mobile Wallet or PayID4, 5, in one of our branches, or at one of more than 10,000 fee-free ATMs nationwide.

Can’t find the answers you’re looking for? Read all our FAQs in our Help Centre.


A man sits on a couch, using his laptop and holding a phone to his ear. The Teachers Mutual Bank Security Promise logo is overlaid next to the man.

Teachers Mutual Bank Security Promise

Our commitment to you

Our Teachers Mutual Bank Security Promise is your guarantee we are working around the clock to protect you, your identity and your money. This includes repaying money lost to fraud so long as you’ve complied with our terms and conditions and haven’t contributed to the loss.

Tools and resources