Membership Eligibility and Lending Criteria
Eligibility criteria apply to join Teachers Mutual Bank Limited. Fees and charges and lending criteria apply. Consumer lending terms and conditions available here. Credit Guide available here.
The Solutions Plus Home Loan is only available with the Rewards Package. A Rewards Package fee is payable upon application and annually. Terms and conditions for the Rewards Package are available on request.
My First Home Loan
The establishment fee is waived for each My First Home Loan application. Any additional costs or fees will be charged as disclosed in your Offer and Loan Contract.
Redraw is subject to application and registration and is not available when a fixed rate applies to any part of the loan.
Mortgage Offset Facility
Terms and conditions for the mortgage offset facility are set out in our Consumer lending terms and conditions and Conditions of use Accounts and access. In consideration of this product facility and feature please refer to our divisional websites;
Teachers Mutual bank, offset facility
Firefighters Mutual Bank, offset facility
Unibank, offset facility
Health Professionals Bank, offset facility
Repayment Pause is not available on all loan products and is subject to application and approval. Refer to Consumer lending terms and conditions for full details.
Interest Only Loans
For interest only loans, repayments must be made monthly. Maximum Interest Only period of up to 5 years after which, loan must revert to Principle & Interest repayments.
The Fixed Rate Lock commences from the date of the application and is locked in for 90 days from the date of application. A Fixed Rate Lock fee of 0.15% of the total amount financed applies and is payable regardless of whether the interest rate at the time of settlement has increased or decreased.
Family Property Guarantor
Guarantor/s subject to lending criteria, and property being accepted as security as determined by the Bank. Guarantor/s must be a family member (i.e. spouse/partner, child, sibling, parent, grandparent or grandchild) of at least one applicant.
The Responsible Investment Association Australasia (RIAA)
All new retail mortgages and deposits at the Bank have been certified by RIAA according to the strict operational and disclosure practices required under the Responsible Investment Certification Program. See www.responsibleinvestment.org for details. RIAA’s Certification Symbol Trade Mark provides consumers and industry alike with a quality mark of Australia and New Zealand’s standard for responsible investing products and advice.