The Mutual Bank will make changes to its deposit and lending interest rates following the Reserve Bank of Australia's decision on 29 September 2026 to increase the official cash rate by 0.25% p.a. to 4.60% p.a.
“The Mutual Bank’s interest rates remain under regular review, to ensure we remain both competitive and sustainable,” said Chief Member Officer Matthew Dunnill.
“We seek to balance the needs of both our depositor and borrower Customers, by delivering consistently competitive rates across our range of products,” he said.
Term Deposits
- Interest rates on several Term Deposit products will increase, effective 2 October 2026.
Savings Accounts
- Interest rates on our key Savings products, Internet Saver, Bonus Saver and Mighty Mutual will increase by 0.25% p.a., effective 1 November 2026.
Home Loan and Business Lending Changes
For existing borrowers:
- Variable interest rates – including Owner Occupied and Investment Home Loans, Business, and Commercial loans – will increase by 0.25% p.a. from 14 October 2026. Customers will receive written notification outlining their new repayments.
Support for Customers Experiencing Financial Pressure
Mr Dunnill encourages Customers affected by the rising cost of living to discuss their loan with our friendly team.
“Please reach out to your Lending Manager, visit a branch or phone our Hunter-based Contact Centre Team on 1300 688 825,” he said.
“Based on your circumstances, our team can assess your eligibility for a range of support options that may be available to you, such as loan deferrals, interest-only periods, or other appropriate relief.”
You can see the full list of The Mutual Bank interest rates across our product range here.
The Mutual Bank is a customer-owned bank headquartered in East Maitland that has been helping people thrive since 1888.
