Interest rates effective 20 August 2025. All interest rates quoted are subject to change at our discretion. Interest is calculated on daily balances and credited monthly.
For products and services, Conditions of Use - Accounts and Access, and Fees and Charges apply. These may change or we may introduce new features or fees and charges in the future. Full details are available on this website or on request. This information is general in nature and does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from or through Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL and Australian Credit Licence 238981.
1 Term Deposits – A $1,000 minimum applies to member and customer term deposits. For deposits of $1,000,000.01 and over, rates are by negotiation and subject to acceptance. View the Conditions of Use - Accounts and Access, and Fees and Charges brochure, also available from any of our offices. You should consider whether this product is appropriate for you before acquiring it.
Interest can be paid monthly, 12 monthly or at maturity on the Member, Edvest, and Customer Term Deposits and fortnightly on the Edvest Term Deposit. Term Deposit interest is calculated on the daily closing balance of the account and can be credited (compounded) to the term deposit account annually or on maturity. Term deposits lodged for more than 12 months must have interest paid at least every 12-month period as well as at maturity and the interest can be compounded to the principal. Fortnightly and monthly interest payments cannot be compounded to the principal.
Early withdrawal: You cannot withdraw or transfer funds from a term deposit account prior to maturity unless you give us thirty-one days’ notice. The notice period commences on the first business day after you provide notice to us. If you believe that you may have a need to immediately withdraw or transfer funds before maturity, please select a more suitable deposit product. Where you give us notice of early withdrawal and the maturity date is less than thirty-one days from the date of notice, we will not release the funds until maturity. Upon early withdrawal or transfer, we will reduce the interest payable. An adjustment may be required where we have paid interest to you prior to you making an early withdrawal. Where an adjustment is required, we will deduct the applicable amount from the deposit balance paid to you. The reduced rate is currently 0.5% lower than the rate specified on your Term Deposit Certificate.
2 Deposits over $5,000,000 (in aggregate across all your savings accounts) are subject to acceptance at the bank's discretion. The interest rate(s) applicable are dependent on the relevant interest rate tier/tiers based on account balance.
3 Bonus Interest - Bonus interest is earned for each month you deposit a minimum of $100 and make no withdrawals during the calendar month, and the account has a credit balance. Deposits must be made into your Momentum Saver account before 5pm Sydney time on the last day of the month.
Design and Distribution Obligations
The target market for this product will be found within the product’s Target Market Determination, available here.
For accounts no longer offered for sale please click here.
