Find the personal loan to help you get what you want, sooner Apply now Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank Personal Loans Personal loans Need a holiday or a new car? Whatever you're aiming for, a personal loan from Teachers Mutual Bank can help make it a reality. Overview Buying a car Renovate and dream Debt consolidation Overview Whatever the reason, we’ve got the loan There are many reasons for taking out a personal loan1. You might be planning for a holiday, consolidating existing debts2, eyeing a new car or saving for a special occasion. Whatever the reason, a competitive personal loan from Teachers Mutual Bank can help get your plans off the ground. Get started with our calculators and tools Quick and easy to use – our online calculators and tools will give you the information you need, in a matter of minutes. Plan your budget What could your repayments be? Could extra repayments help? Why choose a Personal Loan with us? No on-going fees3 We don’t charge monthly or on-going fees, allowing you to pay off your loan faster. Fee free redraw4 You can access and make additional repayments without incurring extra charges. Unlimited extra repayments5 You can make additional payments outside of your repayment schedule, helping to pay off your loan faster. Flexible repayments Choose what works for you and repay – every week, fortnight or month. Low application fee It only costs $100 to apply with us – we’re one of the lowest in the market. Apply Or, use our compare table to find the right loan for you. Fixed rate or variable rate, which loan is right for you? Enjoy peace of mind with a fixed loan: Lock in your interest rate for 2 up to 6 years Have certainty that your repayments stay the same for the duration of your loan Have flexibility when you need it with a variable loan: Make unlimited additional repayments Access additional payments when you need it Pay your loan off faster with no early repayment fee Have a question? Check our frequently asked questions for answers to some common questions about our personal loans. What documents do I need to apply? ID – drivers licence or passport How much you earn –recent payslip, bank statements, tax returns or balance sheets Assets & liabilities in your name – property, shares loans or credit cards. Expenses – bills, household costs or other expenses. How long does it take to apply and how fast can I get my loan? Phone and online applications take approximately 10-15 minutes and you should receive conditional approval within 24 hours (weekdays). You will then need to provide confirmation of your employment and income and accept our letter of offer. Once received and contracts are signed, the funds will be disbursed according to conditions of your loan and your instructions. Loans can also be applied for at any of our offices. What is the interest rate for Teachers Mutual Bank personal Loans? We offer fixed interest rate and variable interest rate loans. Go to compare loans for interest rates. Have another question? Visit our FAQs page for more information. Apply Or, use our compare table to find the right loan for you. Discover more Insightful reads and helpful information 4 ways to better handle your finances Even the small changes can make a difference to your bank balance and set you on the path to better financial health. Here are some ideas to get started. Tell me more Ditching the holiday debt Experienced ‘statement stupor’? It's the sense of bewilderment when you check your credit card statement and realise that you spent more than you thought. Tell me more Break your debt cycle—debt consolidation It’s one thing to pay down your debts, but keeping your debt as close to zero as possible is more complicated. Learn more **Comparison rate warning WARNING: Comparison rates quoted are based on $30,000 for a term of 5 years for Car Loans and All Purpose Loans. Products quoted are unsecured except Car Loans over $50,000 are secured. This comparison rate is 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. *Important information 1 Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions online or from any of our offices. 2 Debt consolidation is $50K maximum. For information on debt consolidation, visit ASIC’s website. 3 Other fees may apply, e.g., default or break fee 4 Redraw is subject to application and registration and is not available for fixed rate loans. 5 Additional repayments available only for variable interest rate loans. Additional repayments to a fixed rate loan may result in incurring break costs. For personal loans no longer offered for sale after 20 September 2021, please click here. Buying a car Drive away in your new car Whether it’s a new or used car, an upgrade or necessity, our car loans1 have flexible repayment options and no ongoing account keeping fees2. You won’t believe how easy it is to get on the road. We offer variable rate loans which start from $5,000 and fixed rate loans starting from $10,000 so you can turn the car you want into a reality. Get started with our calculators and tools Quick and easy to use – our online calculators and tools will give you the information you need, in a matter of minutes. Plan your budget What could your repayments be? Could extra repayments help? Fixed Rate Car Loan If you’re looking for a competitive rate and want to lock in your repayments for the duration of your loan, our Fixed Rate Car Loan is a great option. You can borrow as little as $10,000 for a new or used vehicle up to 10 years old. Learn more 6 .14 pa % Interest rate – 5 year fixed 6 .28 pa** % Comparison Rate - 5 year fixed Compare products No ongoing fees Choose weekly, fortnightly or monthly repayments A competitive fixed interest rate Apply Become a member Compare Car Loan With our car loan you can buy the car of your dreams, whether it's a new or used car up to 10 years old. Learn more 8 .99 pa % Interest rate 9 .13 pa** % Comparison rate Compare products No ongoing fees Make extra repayments Choose weekly, fortnightly or monthly repayments A competitive variable interest rate Apply Become a member Compare Compare loans Compare all Personal Loans Need help to find your next set of wheels? Don't spend hours looking for a car, let Teachers Car Buying Service do it for you. This service takes the hassle out of buying a car - new or used. **Comparison rate warning WARNING: Comparison rates quoted are based on $30,000 for a term of 5 years for Car Loans and All Purpose Loans. Products quoted are unsecured except Car Loans over $50,000 are secured. This comparison rate is 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. *Important information 1 Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions online or from any of our offices. 2 Other fees may apply, e.g., default or break fee. 3 Experts Choice Award: Mozo Pty Ltd. ABN 68 128 199 208. AFSL & Australian Credit Licence 328141 offers consumers a comprehensive product comparison service across the retail banking market. The Bank does not pay Mozo to be in awards selection nor do we receive any commission from Mozo for any award received. Allianz Comprehensive Car Insurance The Bank arranges this insurance as agent of the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 (Allianz). The Bank acts as an agent for Allianz and not your agent. Neither the Bank nor Allianz provide advice based on any consideration of your objectives, financial situation or needs. To decide if it is right for you please carefully read the relevant product disclosure statement, available online or by contacting us. The Target Market Determination is available by calling 1300 139 418. If you purchase this insurance, the Bank will receive a commission that is a percentage of the premium depending on the product. We also have an arrangement with Allianz Australia Insurance Limited (AAIL) to provide marketing, administrative and support services relating to Allianz insurance products in return for a share of aggregate profits from insurance policies (excluding CCI policies) issued by Allianz that we arrange. Ask us for more details before we provide you with any services on this product. Car Buying Members Automotive Services Pty Ltd, trading as Teachers Car Buying Service ABN 79 058 124 020, although endorsed by the Bank, is an independent entity. While we have taken steps to satisfy ourselves that the consultants employed by the Teachers Car Buying Service are licensed motor vehicle consultants, the Bank cannot accept liability arising out of the provision of any service by Teachers Car Buying Service. This service is only available in NSW, ACT and WA. Teachers Car Buying Service will only locate vehicles covered by a statutory warranty. This excludes second hand light commercial vehicles as they do not carry a statutory warranty. Purchase price of car must be more than $10,000. Teachers Car Buying Service will receive a broker fee (which may vary from to time) for providing its services relating to the sale or purchase of your vehicle. Please contact Teachers Car Buying Service for further details. Design and Distribution Obligations The target market for this product will be found within the product’s Target Market Determination, available here. Renovate and dream Looking to renovate, consolidate existing debts2, pay for a wedding or a special occasion? We offer fixed and variable rate loans starting from $4,000, so whatever the reason, a competitive personal loan from Teachers Mutual Bank can help you get your plans off the ground. Got a question? Manage your loan What could your repayments be? Fixed Rate All Purpose Personal Loan Our Fixed Rate All Purpose Personal Loan allows you to lock in your interest rate and repayments for a fixed period. You can use this loan to bundle your debts (up to $50k)2, pay for a wedding or fund your next big purchase. Learn more 8 .75 pa % Featured Interest rate – 5 year fixed 8 .89 pa** % Featured Comparison Rate - 5 year fixed Compare products No ongoing fees A competitive fixed interest rate Choose weekly, fortnightly or monthly repayments Apply Become a member Compare All Purpose Personal Loan Our personal loan can help you bundle your debts (up to $50k)2 and help you simplify the way you manage your finances. Learn more 11 .99 pa % Interest rate 12 .14 pa** % Comparison rate Compare products No ongoing fees Make extra repayments Choose weekly, fortnightly or monthly repayments A competitive variable interest rate Apply Become a member Compare Compare loans Compare all Personal Loans Get started with our calculators and tools Quick and easy to use – our online calculators and tools will give you the information you need, in a matter of minutes. Plan your budget What could your repayments be? Could extra repayments help? **Comparison rate warning WARNING: Comparison rates quoted are based on $30,000 for a term of 5 years for Car Loans and All Purpose Loans. Products quoted are unsecured except Car Loans over $50,000 are secured. This comparison rate is 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. *Important information 1 Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions online or from any of our offices. 2 Debt consolidation is $50K maximum. For information on debt consolidation, visit ASIC’s website. Design and Distribution Obligations The target market for this product will be found within the product’s Target Market Determination, available here. Debt consolidation Debt consolidation As a teacher dedicated to helping others, you sometimes don't have enough time to focus on yourself - or your finances. A debt consolidation loan with Teachers Mutual Bank can help you take control of your finances, save on interest and reduce financial stress. Apply Benefits of consolidating multiple debts One regular, easy to manage repayment A fixed end date for when your debt will be paid off Interest savings with a potentially lower interest rate How does debt consolidation work? Fixed Rate All Purpose Personal Loan Our Fixed Rate All Purpose Personal Loan allows you to lock in your interest rate and repayments for a fixed period. You can use this loan to bundle your debts (up to $50k)2, pay for a wedding or fund your next big purchase. Learn more 8 .75 pa % Featured Interest rate – 5 year fixed 8 .89 pa** % Featured Comparison Rate - 5 year fixed Compare products No ongoing fees A competitive fixed interest rate Choose weekly, fortnightly or monthly repayments View all 8 .75 pa % Featured Interest rate – 5 year fixed 8 .89 pa** % Featured Comparison Rate - 5 year fixed Compare products Apply Become a member What will my repayments be? Quick and easy to use – our online calculators and tools will give you the information you need, in a matter of minutes. Know what your repayments will be Calculate savings if extra repayments are made Create a budget plan Have a question? Check our frequently asked questions for answers to some common questions about our personal loans. How does debt consolidation work? When you consolidate debt with a personal loan, you combine the outstanding balances of multiple debts into one new personal loan in order to pay off all those other debts. This often helps you better manage your budget and cashflow because you only have one loan with one regular repayment and a set end date for paying off the debts, instead of having to manage multiple debts and multiple payments. Some of the types of debt that could be consolidated with a personal loan include car loans, credit cards, store cards, and personal loans with other lenders. Take control of your debt Discover tips for making debt consolidation work for you in the long run. Read more **Comparison rate warning WARNING: Comparison rates quoted are based on $30,000 for a term of 5 years for Car Loans and All Purpose Loans. Products quoted are unsecured except Car Loans over $50,000 are secured. This comparison rate is 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. *Important information 1 Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions online or from any of our offices. 2 Debt consolidation is $50K maximum. For information on debt consolidation, visit ASIC’s website. Design and Distribution Obligations The target market for this product will be found within the product’s Target Market Determination, available here.
