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Teachers Mutual Bank Rewards Package Term Deposit

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Rewards Package Members of Teachers Mutual are further rewarded with higher interest rates on their term deposit accounts.

For an annual fee, Rewards Package members of Teachers Mutual Bank are given a number of benefits, including increased interest rates on their term deposit investments. You still have the flexibility of choosing how long you invest for and the ability to make withdrawals at call once your term hits the two year mark.

Up to 1.15% p.a.

Interest rate

12 months interest rate

$1,000

Minimum opening deposit

$0

Account keeping fee

$499,999

Maximum deposit

Details

Product NameTeachers Mutual Bank Rewards Package Term Deposit ($5,000)
3 month interest rate1.05%
4 month interest rate1.05%
6 month interest rate1.05%
7 month interest rate1.05%
9 month interest rate1.05%
12 month interest rate1.15%
24 month interest rate1.15%
36 month interest rate1.15%
Minimum Opening Deposit$1,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

Membership

Teachers Mutual Bank requires that you become a member first before you can take advantage of the Rewards Package Term Deposit or any other of their financial products. In order to join you must be an employed in the Australian education sector or be a family member or partner of an existing Teachers Mutual Bank member. There is also a $10 shareholder fee which will be charged to you when joining.

Rewards Package

The Rewards Package provides you with certain banking perks, such as reduced fees and higher interest rates. You must apply for this package and if approved will be charged $200 yearly, which will be debited from your Everyday Account.


How to apply

Eligibility

In order to apply for this account, you must first be a member of Teachers Mutual Bank and a part of the Rewards Package Program. You should also be able to meet the following eligibility requirements before you apply:

  • Minimum age. The Rewards Package Term Deposit is available for members aged 18 and over.
  • Residency requirements. Individuals applying for this account must be Australian permanent residents or citizens.

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