In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Teachers Mutual Bank Online Savings Account

Teachers Mutual Bank Online Savings Account

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Maximum variable rate
1.75% p.a.
Base interest rate
0.1%p.a.
Minimum deposit
$0

Summary

Open a flexible Online Savings Account with Teacher’s Mutual Bank today and watch your savings grow.

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With a Teacher's Mutual Online Savings Account, you receive an ongoing interest rate of 1.75% on your first . Account holders who are able to deposit more than will receive bonus interest on their balance. This bonus saver account offers multiple ways to access your savings and transfer funds without incurring fees, and while enjoying competitive interest rates.

Pros

  • $0 account keeping fee
  • Earn interest regardless of balance, and earn bonus interest for balances over $2,000
  • Unlimited electronic transactions

Cons

  • A $3 fee may apply when requesting staff assistance
  • Teachers Mutual membership is limited to those with either personal or family connections to the Australian education industry.

In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Details

Key details

Product Name Teachers Mutual Bank Online Savings Account
Maximum Variable Rate 1.75% p.a.
Standard Variable Rate 0.10% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

$0 Account keeping fees

There are no monthly service fees with the online savings account from Teacher’s Mutual Bank.

Low assistance fees

You will be charged $3 for each transaction that requires the assistance of a Teacher’s Mutual Bank staff member.

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How to apply

Eligibility

First ensure that it will be accepted by going over the following eligibility requirements:

  • Minimum age. Only applicants who are at least 18 years of age will be accepted.
  • Residency requirements. You must either be an Australian citizen or permanent resident to become a member of Teacher’s Mutual Bank.

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