Teachers Mutual Bank
- Short-term loans up to $80,000
- Low-interest starting from 20%
- Repayment up to 6 years
Table of Contents
[Accessed May 2, 2023]
Teachers Mutual Bank - Quality loans and services
They have been supporting the Australian education sector for over 50 years. The dream started when 9 teachers wanted to make a difference to Australian teachers everywhere.
They offer financial products and services including short-term loans, especially to benefit you and your family. Teacher’s mutual bank is one of Australia’s largest mutual banks that has over 193,000 members and more than $6.9 billion in assets they are passionate about helping their members through support and banking services.
Community
Teachers are creating the future leaders of tomorrow they teach the children and create a brighter stronger future through the community. They believe in sustainability and are committed to helping their teachers create a better tomorrow, a better world and a better planet.
Their values
Their foundation is based on education, strength, commitment, integrity and sustainability. Their core belief revolves around advocacy, passion and sustainability.
They have unique products and services
Their bank is there for you to help you navigate your financial journey and support you in reaching your financial goals. They aim to support you with their unique products and services, especially marketed to be relevant to teachers. By making your life easier, they know you will make the future brighter for the children.
Passion for finance
Their staff is extremely passionate about helping you to achieve your personal financial goals and requirements. They aim to put you first in everything that they do and help you with any questions or concerns that you might have. If you would like to speak to them telephonically about a personal loan they will gladly give you a call. They are committed to bringing you the best service and products for their teachers.
Their loan amounts starts at $300
They offer short-term loans that start from $300 to up to 12 months to pay back the loan.
When you need a personal loan for buying a new home, putting down a deposit on a car or your favourite band is coming to town they offer loans for all purposes. Their service has a free redraw option, flexible payment schedules and no ongoing fees so that you can plan your budget accordingly.
The benefits of borrowing with Teachers Mutual are as follows:
- You won’t be charged ongoing fees
- You can make payments whenever you can to pay off the personal loan early with no penalty fees.
- Choose your repayment terms (fortnightly, weekly or monthly)
- Benefit from a competitive variable interest rate
- Benefit from a loan insurance policy that is available
- Easily make lump sum payments
- Free redraw facility
- 24/7 access via internet banking
Who can join?
Teachers Mutual Bank is open to current or retired Australian teachers that are in the education sector and their family member that are shareholders they must be permanent residents of Australia.
How do you become a shareholder?
To become a shareholder you will need to apply online. You must be 18 years or older and a current resident of Australia. You will need to provide identification such as your driver’s license or passport. You can then easily apply for a quick loan with them.
Sustainability
They believe in sustainability and are 100% committed to making the world a better place and caring for the environment. They only hire staff that supports these ideas and believe in the ethical treatment of all. They have partnered with the community and school to finance innovative projects.
Teachers Mutual Bank – Short-term loan
- Loan Type Short-term loans
- Interest Rate from 20%
- Loan Amount up to $80,000
- Repayment 1 month to 6 years
Benefits of Teachers Mutual Bank
- Flexible loan amounts to $80,000
- Loan terms from to 6 years
- Repay early with no penalty fees
- Low-interest rates
Short-term loan calculator
Teachers Mutual Bank - Let them help you manage your finances better
Teachers mutual bank aims to help teachers with their new teacher's program this program will help you manage your finances so you can focus on educating our youth.
If you are currently studying education or you have graduated within the last 2 years, then this program is especially for you.
Benefit from the following:
- There are no application fees
- No ongoing fees on your car loan package
- No monthly fee on your everyday account
- Tap and go payment option
- Access 24 hours through the mobile app
- Deposit and balance alerts
- Unlimited transactions
- No annual fee on your credit card
- 55 days interest-free on purchases
- Online saving account with added benefits
Teaches mutual bank home loans
If you are a first time home buyer, investor or would like to renovate your current home and you meet the criteria then you could qualify for a home loan. Their fixed home loan has a lock-in a rate for up to 5 years so that you can budget accordingly and know exactly how much you need to pay each month. The low-rate home loan offers up to $150,000 to help you secure your dream home.
Your first home loan
This unique product is aimed at first time home buyer and offers a range of benefits:
- 91%pa interest rate
- 91%pa comparison rate
- $0 establishment fee
- The minimum amount of $25k
- 100% offset facility to pay off your home loan sooner
- A free withdraw facility
- Up to 40-year terms available
Convenience
They understand how busy a teacher’s life is, so if you would like any information on any of their products or services they will have one of their consultants come and see you in person at your home or your school for your convenience and walk you through their offers. They aim to help teachers in whatever they need, whether it's purchasing your first home, buying a car, saving for a vacation or getting an emergency loan they are there to assist you. If you prefer not to chat in person you can contact them via their mobile app, via their website or through their other channels.
Using their profits, for good
To give back to the community, they channel a portion of their profits back into the business and invest it back into the education sector.
Tiny monster bank
- This program is designed for children under the age of 18 and teaches children the importance of saving and teaches them smart money management from a very young age.
- This program offers fun activities such as creating your own money box to fun charts that can track your chores and how much pocket money you are earning.
- There are goals and tiny monsters that reach them are rewarded with monster gift cards and other cool prizes designed for children.
- There is a helpful guide for mum and dad to help raise smart money wise kids.
Teachers Mutual Bank is a trusted & reliable provider of short-term loans
In our review, Teachers Mutual Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.
✅ Teachers Mutual Bank is a registered credit provider in Australia: ACL 238981
Customer Reviews & Testimonials
Teachers Mutual Bank Contact
Physical Address
- 28-38 Powell Street NSW Homebush 2140 Australia
- Get Directions
Postal Address
- PO Box 7501, Silverwater, 2128, Australia
Opening Hours
- Monday 09:00 – 17:00
- Tuesday 09:00 – 17:00
- Wednesday 09:00 – 17:00
- Thursday 09:00 – 17:00
- Friday 09:00 – 17:00
- Saturday – Closed
- Sunday – Closed