Victoria Teachers Mutual Bank Term Deposit

Victoria Teachers Mutual Bank Term Deposit

Min. Opening Deposit


Account Keeping Fee


With a minimum deposit of $500 and terms ranging from one month to five years, Victoria Teachers Mutual Bank Term Deposits can help you save for the future.

  • Low minimum investment of $500
  • $0 Account keeping fees
  • Wide ranges of terms from from 1 month to 5 years

Product details

Term deposits pay fixed interest to provide consistent, guaranteed returns on the money you invest. This allows you to efficiently grow your savings balance, safe in the knowledge of exactly how much your deposit will be worth when the term comes to an end. Victoria Teachers Mutual Bank provides term deposit accounts featuring terms ranging from one month to five years. A minimum deposit of $500 is required.

In addition to traditional term deposits, Victoria Teachers Mutual Bank also offers a 1 Year Regular Income Term Deposit. Available on deposits of $5,000 or more, this account provides fortnightly or monthly interest payments to provide an ongoing source of income.

Product Name
Victoria Teachers Mutual Bank Term Deposit
1 month interest rate
3 month interest rate
4 month interest rate
6 month interest rate
9 month interest rate
12 month interest rate
24 month interest rate
36 month interest rate
48 month interest rate
60 month interest rate
Min Deposit
Max Deposit
Minimum Age Requirement

What are the features of Victoria Teachers Mutual Bank Term Deposits?

The competitive fixed-interest rate on offer varies depending on the amount you invest and the term you select.

Minimum deposit of $500

The minimum deposit required to open a Victoria Teachers Mutual Bank term deposit is $500. This figure rises to $5,000 for a 1 Year Regular Income Term Deposit.

Choice of terms

You can choose to invest your funds for the term that best suits your budget and financial needs. Terms available are 30 days, 60 days, 90 days, 120 days, 180 days, 270 days, 1 year, 2 years, 3 years, 4 years and 5 years.

Covered by the Australian Government Guarantee

Deposits of up to $250,000 are protected under the Australian Government Guarantee.

No account-keeping fees

There are no account-keeping fees attached to these term deposit accounts.


Victoria Teachers Mutual Bank will contact you at least two weeks prior to your deposit maturing. The bank will provide details of its current interest rates and allow you to provide instructions for what you want to happen to your investment upon maturity.

Competitive fixed-interest rates

Victoria Teachers Mutual Bank term deposits offer competitive fixed rates so that you can enjoy the security and reliability of consistent returns. Interest is calculated daily and applied annually or at the completion of the term. Interest rates are tiered depending on the deposit amount:

  • $500 - $19,999
  • $20,000 - $49,999
  • $50,000-$99,999
  • $100,000 and over

Interest rates

The table below outlines the minimum interest rate that applies for each available term. However, remember that the rate can vary depending on your deposit amount:

1 Year Regular Income Term Deposit

This special-purpose term deposit will provide you with an ongoing income from the interest earned on your deposit. Interest is calculated daily and you get to choose whether you would like to receive interest payments fortnightly or monthly. Compare other Victoria Teachers Mutual Bank products.

Launch term deposit calculator


  • Low minimum investment of $500
  • $0 Account keeping fees
  • Wide ranges of terms from from 1 month to 5 years


  • A reduced interest rate will apply if you withdraw a portion or all of your investment before maturity

What you’ll need to know before applying

If you’d like to apply for a Victoria Teachers Mutual Bank term deposit account, click on the “Apply now” link on this page. Once you’ve reached the bank’s website, you can start filling out the quick online application form.

You will need to meet the following eligibility criteria:

  • Minimum age. You must be at least 18 years of age to open a term deposit.
  • Residency requirements. Only Australian residents are eligible to apply.
  • Depository requirements. You’ll need a minimum deposit of at least $500 to open an account or $5,000 to open a 1 Year Regular Income Term Deposit.

During the application process, you will need to provide the following:

  • Your Tax File Number. Tax is payable on the interest you earn from your account.
  • Identification. You’ll need to provide proof of ID, for example a passport or driver’s licence.
  • Other info required. You will also need to supply your full name, date of birth and contact information.

Alternatively, you can also download an application form from the Victoria Teachers Mutual Bank website and return your completed form in person or by post.

Victoria Teachers Mutual Bank’s range of term deposits can offer a secure and reliable way to grow your savings balance. However, it’s essential to compare the interest rates and fees offered by a range of term deposits to find the best available deal.

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