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Teachers Mutual Bank Term Deposit

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Modest savings thrive with high interest earnings of a Teacher's Mutual Bank Member Term Deposit.

Manage your savings account growth online with a flexible term deposit from Teacher’s Mutual Bank that allows for lower deposits to start your savings growth. You can choose how long you keep your savings set aside, and with a fixed interest rate this gives you the opportunity to make plans for your financial future.

Up to 1.1% p.a.

Interest rate

12 months interest rate

$5,000

Minimum opening deposit

$0

Account keeping fee

$499,999

Maximum deposit

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Details

Product NameTeachers Mutual Bank Term Deposit ($5,000)
3 month interest rate1.00%
4 month interest rate1.00%
6 month interest rate1.00%
7 month interest rate1.00%
9 month interest rate1.00%
12 month interest rate1.10%
24 month interest rate1.10%
36 month interest rate1.10%
Minimum Opening Deposit$5,000
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

No monthly account keeping fees

No money is deducted from your balance for account maintenance.

Membership required

This term deposit is only available for Teacher’s Mutual Bank members.

Launch term deposit calculator


How to apply

Eligibility

Existing members can apply for a term deposit by going online and downloading the application. This will then need to be filled in and returned to the mutual bank. If you are not already a member of Teacher’s Mutual Bank, you can apply online after checking that you meet the following eligibility requirements:

  • Minimum age. Applicants must be at least 18 years of age in order to be considered. You must also be employed, or the family member or friend of someone who is, by the Australian education industry.
  • Residency requirements. All members must be permanent Australian residents.

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2 Comments

  1. Default Gravatar
    Peter
    October 16, 2019

    I’m a provisionally registered (VIT) teacher. Can my mother invest in a term deposit with Teachers Mutual Bank?

    • Avatarfinder Customer Care
      Jeni
      October 19, 2019

      Hi Peter,

      Thank you for getting in touch with Finder.

      Yes, your mother can invest in a term deposit with Teachers Mutual Bank so long that she becomes a member and pay a one-time membership fee of $10.00. If applying online, please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you/your mother.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

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