How Macquarie’s latest fixed-rate cuts stack up
For borrowers looking to lock-in a low home loan rate, Macquarie Bank is shaking things up by dropping its fixed-term rates. This comes just weeks after the Reserve Bank lowered the official cash rate to 4.10% p.a. and just ahead of the next RBA rate decision.
Macquarie has cut fixed interest rates across the board, a move that positions it among rate-leaders on all terms for owner-occupiers (30% minimum deposit).
Macquarie Basic Home Loan Fixed Rates
- 1-year: 5.49% p.a. (5.87% p.a. comparison rate*)
- 2-year: 5.39% p.a. (5.82% p.a. comparison rate*)
- 3-year: 5.39% p.a. (5.77% p.a. comparison rate*)
- 4-year: 5.59% p.a. (5.81% p.a. comparison rate*)
- 5-year: 5.59% p.a. (5.78% p.a. comparison rate*).
Source: Mozo database, 20 March 2025. Interest rates based on a $400,000 owner-occupied home loan for a borrower making principal and interest repayments, with <70% LVR.
Macquarie cuts gets ahead of the RBA
A major player in the Australian home loan market, Macquarie is clearly looking to win over Aussies on the hunt for a better rate. Mozo's money expert Rachel Wastell says these cuts are ideal for borrowers who are willing to split their loan.
"There is a level of economic uncertainty ahead, because the RBA did kick off the rate cutting cycle last month (and most lenders passed these on) but there’s no guarantee the next cuts will be passed on in the same fashion," she says.
"For borrowers looking for both security and flexibility, a split loan could be the best of the both worlds. Locking in part of your home loan into a fixed rate and the other portion of your loan in a variable rate, can work as a clever diversification tool, and help homeowners hedge their bets in times of economic uncertainty."
Macquarie Basic Fixed Home Loan
- Competitive 2 year fixed rate of 5.39% p.a (5.82% p.a. comparison rate*) for live-in borrowers with a 70% LVR
- No annual or application fee
- Fast turnaround times
The key essentials of a great value home loan are low rates and low fees, and the Macquarie Fixed Basic home loan has both. For owner-occupiers, you’ll have a range of fixed terms to choose from 1 to 5 years and interest rates are scaled depending on your loan to value ratio. The 2 year rate is a low 5.39% p.a. (5.82% p.a. comparison rate*) for borrowers with at least 30% deposit or equity. The loan also does away with common fees so you won’t pay an application, monthly or an annual loan fee (but there are break cost fees if you do need to exit the loan early). You can make up to $10,000 a year in extra repayments and access them via a redraw. There is also a split loan option but no offset account. The loan is 100% digital and Macquarie boasts market-leading turnaround times and a straightforward application.
Where do I get it? Head over to Macquarie to find out more >>
* 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.
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