Compare Bank First savings accounts
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Bank First, formerly Victoria Teachers Mutual, is a mutual which means their customers own the organisation. Profits are reinvested back into the Bank First to provide continuing value through highly competitive interest rates, low fees and superior customer service.
You don’t have to be a teacher to join this customer owned bank, anyone can become a customer and access leading savings and investment products.
Bank First is regulated in the same way as the big four banks, and its deposits are guaranteed by the Federal Government up to $250,000.
Bank First savings accounts, bank accounts and term deposits
Bank First savings accounts
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The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
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Bank First bank accounts
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Bank First term deposits
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Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
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What are the pros and cons of banking with Bank First?
Pros
- Customer-owned bank
- Wide range of products and services
- Supports education through events, donations, and sponsorships
Cons
- Transaction fees can apply
- Limited branch access
How to apply for Bank First savings account
Applying online for a new bank account is fast and easy. You'll need identity documents such as your driving licence or passport. For more about the process, check out our full guide to opening an account online.
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