Macquarie wins award for Australia’s Best Bank

Macquarie bank wins australians best bank

It’s that time of year again, where our expert team of judges analyse data to find the top Australian banking providers. And Macquarie Bank has been crowned Australia’s Best Bank in the 2022 Mozo Experts Choice Best Banking Awards.

To determine which financial institutions are worthy of being crowned a Mozo Experts Choice Award winner, our team of judges looked at 90 banking providers to analyse and assess their performance based on their individual products (3,141 in total!) to determine who comes out on top.

Macquarie is truly a force to reckon with after knocking out the 2020 and 2021 winner ING from its top spot. 

This Sydney-based bank has had lots of attention lately, winning an award for its home loans earlier this year and nabbing four awards for its deposit products! Macquarie also offers competitive credit cards, personal loans, term deposits and savings accounts. 

Check out some of the home loans, savings and banking products available at Macquarie, Australia’s newest Best Bank winner:

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 237 bank accounts.
Last updated 13 July 2024 Important disclosures
Macquarie - Transaction Account
  • Up to 2.25% p.a. interest rate from 12 August
  • No international transaction fees
  • Multiple 2022 Mozo Experts Choice Awards^
Find out more

With no account keeping or international transaction fees, this 2022 Mozo Experts Choice Award^ winner nabbed the crown for best Internet Banking and Exceptional Everyday Account. Not only that, but you can also earn up to 2.25% p.a. interest depending on your balance from 12 August. This everyday transaction account allows free withdrawals from over 3,000 ATMs and refunds you and network fees. It also offers Apple Pay, Google Pay and PayID. Keep in mind that if your account goes negative, you’ll be charged a 16.40% p.a. overdrawn fee.

Macquarie - Offset Home Loan (Package)
  • Variable rates from 3.19% p.a. (3.45% p.a. comparison rate*)
  • 100% offset account
  • 2022 Mozo Experts Choice Award winner for Packaged Home Loan

Macquarie’s Offset Home Loan (Package) won the 2022 Mozo Experts Choice Home Loan Award for best Package Home Loan with its competitive variable rates starting from 3.19% p.a. (3.45% p.a. comparison rate*). This home loan comes with numerous neat features like an offset account, a free redraw facility and the ability to make free extra repayments. Owner occupiers can receive loan amounts from $150,000 to $5,000,000 with both principal and interest and interest-only repayment options. While there are no upfront fees, you do have to budget for a yearly $248 service fee and a $400 discharge fee to keep in mind.

Macquarie - Savings Account
  • Max introductory rate of 3.10% p.a. from 12 August
  • Ongoing variable rate of up to 2.25% p.a from 12 August
  • Five-time 2022 Mozo Experts Choice Savings Account Awards winner

Macquarie offers a great introductory rate of 3.10% p.a. for the first four months on deposits up to $250,000. After four months you get an ongoing base rate of up to 2.25% as long as your balance is up to $250,000 (both rates will be from 12 August). If your balance is higher than that you’ll receive lower rates. Also, there are no account keeping fees. To access these rates, you need to have a Macquarie Transaction Account.  If that isn’t eye-opening enough, this savings account won five 2022 Mozo Experts Choice Savings Account Awards, including best Kick Start Savings, No Strings Savings Account and Regular Saver.

Want to learn more about Australia’s best banks? Dig into the complete details of our awards and judging process by checking out the 2022 Mozo Experts Choice Awards for Best Banks.

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Australia’s Best Banking Awards

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