All Transaction Accounts

Footnotes:

• ¹ 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.
• ² 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.
• ³ 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 (this is called an “interest offset”). 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.
• ⁴ 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.
• ⁵ The Discounted Variable Rate Home Loan interest rate on the Owner Occupied - Package Home Loan Variable Rate Home Loan is available for new borrowers applying for Owner Occupied - Package Home Loan Variable Rate Home Loan with principal and interest repayments, a minimum balance of $150,000 and the loan security Loan to Value Ratio (LVR) of less than 90% as approved by The Mutual Bank.  The Discounted Variable Rate Home Loan interest rate reverts to the Owner Occupied- Package Home Loan Variable Rate Home Loan interest rate at the end of the 12 month discount period.
• ⁶ Each of the above comparison rates is calculated on the basis that the loan is secured with repayments made at monthly intervals. Comparison rate calculated on the loan amount of $150,000 for a term of 25 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. NOTE: All loans are subject to The Mutual Bank's lending guidelines. Full details of Terms and Conditions are available on application. Eligibility criteria, conditions, fees and charges apply to all loans.