Teachers Mutual Bank vs Bank First home loans July 2026

Teachers Mutual Bank's lowest variable home loan rate is 6.09% p.a. and Bank First's is 5.99% p.a., a gap of 10 basis points, with Bank First the lower of the two today. Both figures are ranked by comparison rate and refreshed daily, so check features and fees alongside the headline rate before deciding.

Teachers Mutual Bank vs Bank First at a glance

Feature	Teachers Mutual Bank	Bank First
Lowest variable rate	6.09% p.a.	5.99% p.a.
Lowest 3-year fixed rate	6.49% p.a.	6.49% p.a.
Lowest comparison rate	6.13% p.a.	6.04% p.a.
Products tracked	48	80
Offset available	Yes	Yes
Cashback offer	—	—

Teachers Mutual Bank or Bank First: which should you pick?

On the lowest advertised variable rate, Bank First sits at 5.99% p.a. and Teachers Mutual Bank at 6.09% p.a. On a $500,000 loan over 30 years, that gap works out to roughly $32 a month in repayments, so the rate difference is worth weighing carefully.

Both lenders offer an offset account, so if parking savings against your loan matters to you, neither rules itself out on that front.

The cheapest headline rate isn't always the rate a lender approves on your file. Your loan size, deposit and income all move the number, so the right pick between Teachers Mutual Bank and Bank First depends on your scenario, not just the advertised figure.

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Teachers Mutual Bank vs Bank First: frequently asked questions

Who has the lower home loan rate, Teachers Mutual Bank or Bank First?

As of July 2026, Bank First has the lower headline variable rate at 5.99% p.a., versus 6.09% p.a. for Teachers Mutual Bank. Both are ranked by comparison rate and refreshed daily.

What's the difference between Teachers Mutual Bank and Bank First home loans?

Beyond the rate, Teachers Mutual Bank and Bank First differ on features. Teachers Mutual Bank offers an offset account, and Bank First offers one too. Ratesniffers tracks 48 Teachers Mutual Bank and 80 Bank First products, ranked by comparison rate and refreshed daily.

Is it worth switching from Teachers Mutual Bank to Bank First?

It depends on the gap and your balance. The lowest advertised variable rates differ by 10 basis points today, and on a $500,000 loan even a small gap adds up over the life of the loan. Compare the comparison rate and features, then check the rate each lender would actually approve on your file.

How often are Teachers Mutual Bank and Bank First rates updated?

Ratesniffers refreshes both Teachers Mutual Bank and Bank First home loan rates daily. Rates can change whenever either lender reprices or the RBA moves the cash rate, so the figures on this page reflect the most recent data we hold rather than a static snapshot.

Go deeper on each lender

Full product ranges, refreshed daily and ranked by comparison rate.