Member-owned bank for the education community: teachers, education staff, education students and graduates, and their families. A division of Teachers Mutual Bank Limited, which also runs Australian Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank.
Teachers Mutual Bank is a customer-owned (mutual) lender. It offers home loans, car loans and personal loans.
On APRA’s August 2026 figures, Teachers Mutual Bank Limited held $11.5 billion of home loans on its Australian books: 0.5% of the housing lending by the deposit-taking institutions APRA reports, the 16th largest of the 64 with home loans.
We checked Teachers Mutual's products and eligibility on its own website on 30 September 2026.
What Teachers Mutual offers in each category, with the features, eligibility and trade-offs we note. For the current rate on each product, follow the link to Teachers Mutual’s own rate card.
Teachers Mutual Bank's home loan pages compare two loans: Your Way, a basic home loan with variable or fixed rate options, and Your Way Plus, a package loan with a 100% offset account on both variable and fixed loans. Your Way has a $600 establishment fee and a $0 annual fee, while Your Way Plus has a $0 establishment fee and a $300 annual fee.
Both loans let you split your loan between fixed and variable rates, make unlimited additional repayments on variable loans and redraw free of charge on the variable portion. Your Way Plus also allows extra repayments of up to $10,000 a year on fixed loans.
Car loans can finance new or used cars, caravans, boats and motorcycles, with used cars up to 10 years old. Variable rate car loans run from $5,000 to $80,000 over up to 6 years, and fixed rate car loans run from $10,000 to $80,000 over 3 to 6 years. Personal loans range from $4,000 to $80,000 over up to 6 years, and both personal and car loans have a $150 application fee and no ongoing fees.
Membership eligibility applies to join Teachers Mutual Bank. To apply for a loan you must be an Australian citizen or permanent resident aged 18 or older, and be employed in or retired from the education sector, be studying or have graduated in education at an Australian university, or be an immediate family member of a Teachers Mutual Bank member.
Teachers Mutual Bank says permanent and regular part-time teachers need no minimum employment period for a home loan assessment, and casual or relief teachers can apply with three months of employment. Its home loans are offered to owner occupiers and investors, and its low deposit options include the Australian Government 5% Deposit Scheme, the Help to Buy Scheme, lenders mortgage insurance and buying with a guarantor.
You can start a home loan pre-approval online, submit a refinance application online in 20 minutes, or talk to a Lending Specialist over the phone, by video call or face to face. Teachers Mutual Bank also has mobile bankers who can meet you at school, at home or over the phone.
Personal and car loan applications can be made online or by phone, usually in 10 to 15 minutes, or at a branch. Conditional approval is typically given within 24 hours on weekdays, after which you confirm your employment and income and sign the offer.
Teachers Mutual Bank also accredits mortgage brokers, who request accreditation through their aggregator. It says one accreditation gives brokers access to its brands, which share the same lending suite, interest rates and credit policy.
Teachers Mutual Bank is a division of Teachers Mutual Bank Limited and describes itself as member-owned, meaning it does not answer to external shareholders. It was founded in 1966 as the Hornsby Teachers Credit Union and changed its retail name to Teachers Mutual Bank in 2012.
Its website says that, alongside Australian Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank, it serves over 280,000 members across education, healthcare and emergency services. Eligibility to join varies by brand, and the bank supports teachers, health professionals, firefighters and emergency services workers, as well as academics and graduates of Australian universities.
Other lenders in our directory that offer home loans, car loans, personal loans, starting with other customer-owned lenders.
What Teachers Mutual offers, the trade-offs, and who should look elsewhere.
You must be an Australian citizen or permanent resident and be employed in or retired from the education sector, be studying or have graduated in education at an Australian university, or be an immediate family member of a Teachers Mutual Bank member. Loan applicants must also be aged 18 or older.
Yes. The Your Way Plus home loan includes a 100% offset account on both variable and fixed loans, with a $300 annual fee and a $0 establishment fee. The Your Way home loan does not have an offset facility.
Teachers Mutual Bank says casual or relief teachers can apply with just three months of employment, and permanent and regular part-time teachers need no minimum employment period. All applications for credit are subject to the bank's lending criteria.
Yes. Online or phone applications usually take 10 to 15 minutes, and you can also apply at a branch. You must be at least 18 and a member of the bank or eligible to become one, and conditional approval is typically within 24 hours on weekdays.
Yes. Teachers Mutual Bank accredits mortgage brokers, who request accreditation through their aggregator. It says accredited brokers gain access to its brands, which share the same lending suite, interest rates and credit policy.
Teachers Mutual Bank Limited holds Australian Credit Licence 238981. You can check a licence on ASIC’s Professional Registers before you apply.