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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 has been consistently recognised by both their customers and those within the financial community for an outstanding range of investment, insurance and banking products and services, including:
Bank First, formerly Victoria Teachers Mutual, is an award-winning bank with over 100,000 customers and $2 billion in assets. Anyone can open an account with them.
Rather than profits being distributed to external shareholders (like they do with the big four banks), profits are reinvested back into Bank First to provide continuing value to customers.
Its range of banking products includes transaction and savings accounts, term deposits, credit cards, home loans, personal loans, insurance and financial planning advice.
Bank First gives you secure, online access to your accounts 24/7 through their internet and mobile banking facilities. Make one off and recurring BPAY payments to your billers, transfer funds, view electronic account statements and more.
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.
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This is a basic everyday interest bearing transaction account ideal for managing your day to day finances. Get free a free Visa Debit Card with this account and make free ATM withdrawals at non-Commonwealth Bank ATMs.
This account is used as a companion to the Bank First Everyday Account. Allows you to set up direct debits and credits so you can save and budget for your everyday and big ticket purchases.
A transaction account for under 18’s. This account is used as a day to day account with ATM, internet and telephone access. There is no minimum balance requirement. Bank First reward First Access Account holders with interest.
Eligible pensioners can apply for the Pension Account, a transaction account that offers two rates of interest depending on the Pension Account balance. Get a Visa Debit Card, ATM card or cheque book to access funds and this account includes the option to add an overdraft facility.
A full access student transaction account with features to save money on related products such as car finance, health insurance, student and personal loans and a complimentary financial planning consultation.
Back to topAn high interest savings account that gives you an incentive to grow your savings balance. Earn up to 0.55% when you deposit of more than $1 and make no withdrawals each month.
A online savings account that offers a high rate of interest for maintaining a minimum balance of $2,000. This account allows you to make withdrawals and there's no minimum deposit requirement to earn the full rate of interest.
A savings account for kids that offers a tiered rate of interest. Balances greater than $2,000 earn more interest. There's no minimum requirements or deposit requirements to earn the full rate of interest, funds are available via internet and telephone banking.
The Cash Management offers a higher interest rate for balances greater than $20,000. The more you save the more interest you earn. The minimum opening deposit is $5,000. You can withdraw your money at any time.
A savings account just for Christmas, make deposits whenever you want and access your money in time for the holidays. Set up direct credits so part of your wage can be paid directly into this account.
The First Home Bonus savings account rewards you with bonus interest when you deposit more than $100 each month and make no withdrawals. You'll also receive $60 cash back, and they'll waive the establishment fee on any Bank First Home Loan.
Back to topEnter into a fixed term deposit investment for periods of 30 days through to 5 years. Term deposit interest rates are tied to the investment term, longer terms get higher returns. Your money is locked in till the investment matures.
You can open an account online with ease. The application should take 10 minutes to complete. You'll be asked to provide your contact information.
You can also open an account over the phone by calling Bank First on 1300 654 822.
The Bank First Online Saver Account offers a convenient, hassle-free way to manage your money everyday, without getting buried in fees.
With competitive interest rates and terms ranging from one month to five years, a Bank First Term Deposit can provide consistent, reliable returns.
If you’re receiving a government pension and looking for an easy way to manage your day-to-day finances, this Pension Account could be an ideal fit for you.
With a competitive interest rate and no access to your funds until November, the Bank First Christmas Club Account can help you put money aside for the festive season.
With competitive interest rates and no account-keeping or transaction fees, the Bank First First Saver Account can teach your kids how to start saving.
Not only will you be supporting your savings with this account, but the teaching community also.
With competitive interest rates and easy access to your funds whenever you need them, the Bank First Cash Management Account helps you save for the future.
With a generous bonus interest rate and access to competitive home loan discounts, the First Home Bonus Saver Account from Bank First is worth a look for anyone saving for a deposit.
Ideal for kids and teenagers who are new to banking.
A Bank First Budget Account restricts spending and allows for easy direct debits and credits to and from your Everyday Account, helping you stick to your budget. However, the interest rate is not as competitive as alternative savings accounts.