Finty
Teachers Mutual Bank

Teachers Mutual Bank Your Way Plus Fixed Home Loan Investor

Fixed rateOffsetRedraw

Get flexibility for your investment PLUS take advantage of our package benefits with special low rates and much more. Lock in a rate for up to 5 years.

Written byDavid Boyd
Interest rate a year, from
6.54%
Comparison rate
6.79%
Upfront fees
$250
Annual fee
$300
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.54% (1 year fixed, investment, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,808
Total repayments
$1,370,954
Interest
$770,954

Rates

Every rate Teachers Mutual Bank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
1 year fixedInvestmentPrincipal and interest0.1% to 60%6.54%6.79%
1 year fixedInvestmentPrincipal and interest60.1% to 80%6.54%6.79%
1 year fixedInvestmentPrincipal and interest80.1% to 90%6.64%7.24%
1 year fixedInvestmentPrincipal and interest90.1% to 98%6.89%7.58%
2 year fixedInvestmentPrincipal and interest0.1% to 60%6.69%6.83%
2 year fixedInvestmentPrincipal and interest60.1% to 80%6.69%6.83%
2 year fixedInvestmentPrincipal and interest80.1% to 90%7.04%7.29%
2 year fixedInvestmentPrincipal and interest90.1% to 98%7.19%7.60%
3 year fixedInvestmentPrincipal and interest0.1% to 60%6.79%6.87%
3 year fixedInvestmentPrincipal and interest60.1% to 80%6.79%6.87%
3 year fixedInvestmentPrincipal and interest80.1% to 90%7.04%7.30%
3 year fixedInvestmentPrincipal and interest90.1% to 98%7.24%7.63%
4 year fixedInvestmentPrincipal and interest0.1% to 60%6.99%6.97%
4 year fixedInvestmentPrincipal and interest60.1% to 80%6.99%6.97%
4 year fixedInvestmentPrincipal and interest80.1% to 90%7.29%7.40%
4 year fixedInvestmentPrincipal and interest90.1% to 98%7.34%7.63%
5 year fixedInvestmentPrincipal and interest0.1% to 60%7.04%7.03%
5 year fixedInvestmentPrincipal and interest60.1% to 80%7.04%7.03%
5 year fixedInvestmentPrincipal and interest80.1% to 90%7.39%7.46%
5 year fixedInvestmentPrincipal and interest90.1% to 98%7.49%7.70%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$250
Annual fee
$300
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
98%
Loan amount
From $150,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Upfront fees

$250

Typical upfront fees are $600.

Annual fee

$300

A typical annual fee is $350.

Smallest deposit

2%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A smaller deposit. You can borrow with 2% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.

Cons

  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.