Public Holiday: The Mutual Bank Branches and Contact Centre will be closed for the King’s Birthday Public Holiday on 9 June 2025. Scheduled payments will be made in advance on 7 June.



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Transaction Accounts

Enjoy easy access to your money with our variety of everyday banking accounts.

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The Mutual Bank offers a wide range of best value transaction accounts to help you maximise your savings and make your everyday banking easy. Enjoy flexible access to your funds.

Everyday Account

Make the convenience of everyday banking yours when you unlock the benefits of our Everyday Account. Enjoy easy access to your money, taking your banking on the go with our app and quick, secure contactless payments.

  • No monthly account-keeping fees
  • No everyday transaction fees*
  • Make up to 9 sub accounts
  • 0.01 % p.a.
    Interest rate
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Important Information

We have not considered your objectives, financial situation, or needs. You should consider these things, along with the Product Disclosure Statement and our product Target Market Determinations before making any decision to acquire a product.

The daily percentage rate is the applicable annual percentage rate divided by 365.

  • 1 Interest is calculated by applying the daily percentage rate to the different portions of the daily balance and paid monthly on the last day of each month. The daily percentage rate is the applicable annual percentage rate divided by 365. Penalty Interest will be charged at a rate of 20.00% per annum on overdrawn savings accounts. This penalty interest will be calculated daily and charged on a monthly basis.
  • 2 Interest is calculated by applying the daily percentage rate to the daily balance and paid monthly. Bonus Interest of 10% of the amount of interest earned is payable if there are no withdrawals for the month.* The daily percentage rate is the applicable annual percentage rate divided by 365.
  • 3 Rather than attracting interest on your at-call deposit account, which may be taxable income, The Mutual reduces the balance of your loan for interest calculation purposes by the amount held in your 100% Loan Offset Account each month. In this way, funds held in your deposit account are saving you interest on your loan account. This can be a tax effective means of holding cash available for all your transaction needs, while minimising the interest on your loan.
  • 4 Both the Loan Saver and 100% Offset type of account have been approved by the Australian Taxation Office only on the basis that no interest is earned. The interest offset accrues on these accounts up to the point where the balance of the account equals the balance owing on the home loan. No interest offset accrues on the portion of the balance of the Loan Saver or 100% Loan Offset Account which exceeds the balance outstanding on the loan.
  • 5 Interest is calculated by applying the daily percentage rate applicable to the daily balance to the entire balance. Interest is not credited to your account but interest which would otherwise be payable is offset against the interest charged each month on your loan. The daily percentage rate is the applicable annual percentage rate divided by 365.
  • 6 Interest is calculated by applying the daily percentage rate applicable to the daily balance to the entire balance and paid on the last day of every month. Interest will be calculated and paid if there has been at least one deposit and no withdrawals on the account during the calendar month. Interest credits from this account do not constitute a deposit. If this condition is not met, no interest will be paid for that month. The daily percentage rate is the applicable annual percentage rate divided by 365.
  • 7 The interest rate offered to you will be personalised depending on our credit assessment of your financial situation. The interest rate shown is the minimum interest rate that may be applicable.
  • 8 Comparison rate is based on a secured loan of $30,000 over 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    

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Any advice or information on this site does not take into account your personal objectives, financial situation, or needs and you should consider whether it is appropriate for you. Please review our Product Disclosure Statement, Target Market Determinations, Terms and Conditions, Financial Services Guide, and Credit Guide before deciding to acquire a product.

Eligibility and lending criteria, conditions, fees, and charges apply to all loans. Interest rates, fees, and charges may change without notice. Information is current as at date of appearance and is subject to change. We use reasonable efforts to provide accurate and up to date information. However, mistakes may still occur from time to time and we cannot guarantee that this website is free from any errors, inaccuracies or omissions. Maitland Mutual Limited trading as The Mutual Bank ABN 94 087 651 983 AFSL/Australian credit licence 238139.

The Mutual Bank acknowledges the Traditional Custodians of Country across Australia and recognises their continuing connection to lands, waters and communities. We pay our respects to Aboriginal and Torres Strait Islander cultures and to Elders past and present.