The tri-layer magnetic tunnel junction (MTJ) has surfaced as a building block for engineering next-generation integrated circuits while combining the attributes of non-volatility and meager energy consumption. Nevertheless, the perceptible switching energy (≈20–50 fJ/bit) and sub-optimal tunnelmagnetoresistance (TMR) (≈200%–300%) have acted as major hindrances, concealing its potential to supersede the capabilities of static and dynamic random access memories. In this work, we introduce a novel device that features a minimalistic non-uniform heterostructure/superlattice instead of the oxide layer in a conventional MTJ and analyze it in the premise of the self-consistent coupling of the Non-Equilibrium-Green’s Function (NEGF) and the Landau-Liftshitz-Gilbert-Slonczewski (LLGS) equation. We ascertain that the coupling of the electrodes to the proposed heterostructure renders a highly spin-selective broadband transmittance, thereby enabling a towering TMR (%) of 3.7 × 104% along with a significant reduction in the spin transfer torque (STT) switching energy (≈1.96 fJ). Furthermore, the sizable slonczewski term (Is‖) originating from the heterostructure facilitates a swift STT-switching within the scale of a few hundred picoseconds (≈400 ps).