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Teachers Mutual Bank cuts rates by 16 points

by Staff Reporter7 minute read
The Adviser

Teachers Mutual Bank has made cuts of up to 16 basis points to its two-year and three-year fixed rates.

The two-year rate has been reduced from 4.67 to 4.58 per cent.

The three-year rate has fallen from 4.82 to 4.66 per cent.

Teachers Mutual will guarantee both rates for 90 days on all new applications received before October 12.

It also offers a 100 per cent offset facility on all loan types.

The bank’s national manager of third-party distribution, Mark Middleton, said the reduced rates would help potential buyers during the busy spring property season.

“With some economists predicting rates to rise early next year, our new fixed rates offer a great opportunity to lock in a low rate now before the market changes,” he said.

[Related: Teachers Mutual targets Tasmania]

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