Teachers Mutual Bank updates Starter Saver (Under 30s / Students) to 5.00%
Teachers Mutual Bank has increased the rate on its Starter Saver (Under 30s / Students) savings account by 25 basis points to 5.00% p.a., from a previous rate of 4.75%.
Teachers Mutual Bank
Starter Saver (Under 30s / Students)
New Rate
5.00%
Illustrative Example
For illustrative purposes, a $10,000 deposit at 5.00% would earn approximately $500 per year in interest. That is $25 more per year compared to the previous rate.
Market Context
This rate of 5.00% is above the current market average of 4.63% across 67 tracked savings account products. The current market leader offers 5.40%.
Notes
Teachers Mutual Group is lifting variable savings rates by 0.25% p.a. from 26 March 2026 across Teachers Mutual Bank, Firefighters Mutual Bank, UniBank, and Health Professionals Bank. Starter Saver rises to 5.00% p.a. on balances up to $50,000 and is available to members under 30 and university students of any age. Monthly bonus products will reflect the increase in the following month.
⚠️ General information only
This comparison is for informational purposes only and does not constitute financial advice. Always verify current rates and eligibility directly with the provider before making decisions. Consider whether products are appropriate for your circumstances.