Teachers Mutual Bank logo

Teachers Mutual Bank Home loan reviews

Overall rating
Price
Features
Customer service
Convenience
Trust
Based on 86 home loan reviews as rated by the Mozo community.

Recent Teachers Mutual Bank home loan customer reviews

Sort reviews by: date | star rating
  • Teachers Mutual Bank Home Loan

    ATTENTION DO NOT USE THIS BANK

    This bank was great until they decided to increase our 1.95% fixed interest rate to 2.14% on the settlement day of the purchase of our first home. They didn't even, call but gave us the information via email on settlement day. They said they contacted our broker prior to settlement, however this is false. It's safe to say this definitely put a dampener on what should have been a positive experience. My partner and I are first year teachers and this banks mantra of "supporting teachers" in my experience is rubbish and the complete contrary. Furthermore, they were rude, arrogant and not understanding at all on the phone. Not even willing to negotiate or help in anyway. Once our 4 year term is up we are 100% going elsewhere. Very negative experience.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Dylan, New South Wales, reviewed 4 months ago
  • Teachers Mutual Bank Classic Home Loan (Owner Occupier)

    TMBank has been fabulous for me!

    I have found Teachers Mutual Bank to have fantastic customer service. When looking at housing loans there are a lot of variables but they gave me clear, concise information so I clearly understood the terms & conditions. I've also found their rates to be very competitive which made it an easy decision for me. TMBank has such a reliable on-line service but I’ve also used their mobile service which means a bank representative comes to your house with all the paperwork ready to complete. Easy! No brokers only a bank employee which I found fabulous. I changed my loan to TMBank because of the service, ease of changing & their cheaper rate but to cap it all off, at the time there was a $1500. cash back so changing banks cost me nothing. In fact I came out with a profit! I chose the Classic Home Loan due to its flexibility of no penalties for paying extra or early finishing of the loan. I highly recommend TMBank.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Maryanne, Queensland, reviewed 5 months ago
  • Teachers Mutual Bank

    A competitive bank

    They are easy to deal with. Upfront about lending options and they are competitive.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Hannah, New South Wales, reviewed 10 months ago
  • Teachers Mutual Bank

    They were OK as a credit union.

    Although they're a mutual bank, they're acting like a 'big' player in the industry and treating customers like the Big 4 do. There is nothing personal or personable about this bank. As a credit union they were OK, as a bank they are not.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Robert, New South Wales, reviewed 11 months ago
  • Teachers Mutual Bank

    Screwed over first home buyer at last moment

    We chose this bank as they were highly recommended by us by family and our broker. To put things bluntly, Teachers mutual bank screwed us over at the last minute. We had a pre approval (twice!) for a loan on our land which they retracted 2 days before settlement due to a clause in the contract that our conveyancer/vendor/broker stated was a normal contractual clause. This caused us not only significant emotional stress but financial stress as we were unable to settle on time. We were left to find another lender within two days with no responsibility taken by TMB. To do that to two healthcare workers in the middle of covid-19 who have over the 20% deposit and a perfect credit score is ridiculous.

    Customer service
    Trust
    Less
    H, Victoria, reviewed 11 months ago
  • Teachers Mutual Bank

    Great App

    I really like TMB because the app is easy to use and allows me to manage my offset account on from my phone. The interest rate is good, although they have gone lower since I joined TMB so that is an area for improvement. Overall, I am happy with the bank.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Michelle, Western Australia, reviewed about 1 year ago
  • Teachers Mutual Bank Classic Home Loan (Owner Occupier)

    Friendly with less fees.

    Very helpful. No monthly fees on loan.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Janet, New South Wales, reviewed about 2 years ago
  • Teachers Mutual Bank Home Loan

    Easy to use internet banking system.

    There are very few branches and no ATMs that don't charge a fee for transactions. Their Solutions Plus Home Loan has low fees, offset and redraw and no penalties for advanced payments.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Bronwyn, New South Wales, reviewed about 2 years ago
  • Teachers Mutual Bank

    I would like them to be more rate sensitive

    They do not have the best rate. Works for me because they fund for a studio

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Michael, Victoria, reviewed about 2 years ago
  • Teachers Mutual Bank

    Competitive products and amazing customer services

    Good service and products.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    V, Queensland, reviewed almost 6 years ago
  • Teachers Mutual Bank

    TMBank - The Bank for Educators

    A great mutual bank for the education community and their families. Low fees and great rates coupled with some of the best member service around.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Andrew, New South Wales, reviewed almost 6 years ago
  • Teachers Mutual Bank Home Loan

    Rude

    Rude customer service from loans department - not a service orientated credit union.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Fioan, New South Wales, reviewed about 6 years ago
  • Teachers Mutual Bank

    Excellent service; great rates.

    I have been with this bank for nearly 40 years and they consistently provide very competitive rates and a high level of service.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Susan, New South Wales, reviewed over 6 years ago
  • Teachers Mutual Bank

    Good service

    Good service and good rates.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Neil, Western Australia, reviewed over 6 years ago
  • Teachers Mutual Bank

    Great customer service and competitive products

    We trust them, they are always helpful and you can talk to a person (rather than a computer) easily when you need to.

    Price
    Features
    Customer service
    Convenience
    Trust
    Less
    Jacqui, New South Wales, reviewed over 6 years ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Home loan comparisons on Mozo - rates updated daily

    • Smart Booster Home Loan

      interest rate
      1.85% p.a.variable for 24 months and then 2.25% p.a. variable
      comparison rate
      2.21% p.a.

      Promoted
    • UHomeLoan - Discount Offer

      interest rate
      2.19% p.a. variable
      comparison rate
      2.19% p.a.

      Promoted
    • Celebrate Variable Home Loan

      interest rate
      1.99% p.a. variable
      comparison rate
      1.99% p.a.

      Promoted
    • Variable Home Loan

      interest rate
      1.99% p.a. variable
      comparison rate
      1.99% p.a.

      Promoted
    • Basic Home Loan

      interest rate
      2.14% p.a. variable
      comparison rate
      2.14% p.a.

      Promoted

    WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

    Want more? Compare all 501 home loans in the Mozo comparison engine.

    Compare more home loans

    About Mozo community reviews

    Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.