Macquarie Bank slashes fixed rates by up to 0.35%

Macquarie Bank has made substantial changes across its range of fixed rate home loans today, cutting rates for 1, 2 and 3-year terms for both owner occupiers and investors by up to 0.35%. 

Below is a snapshot of the changes:

  • Owner Occupier, P&I loans with an LVR of ≤ 70% have been reduced by 0.20%.
  • Owner Occupier, P&I loans with an LVR of ≤ 80% have been reduced by 0.10%.
  • Investment, P&I loans with an LVR of ≤ 70% have been reduced by 0.35%.
  • Investment, IO loans with an LVR of ≤ 70% have been reduced by 0.25%.

Fixed rates for OO, P&I repayment loans with an LVR of ≤ 80% saw a reduction of 0.10%. That means new customers looking to lock in a Basic Home Loan for 3 years (P&I, ≤80% LVR) will now receive a 2.39% p.a. fixed rate (2.77% p.a. comparison rate*).

For those with a deposit of at least 30%, the rates on offer are even more generous. Following a 0.20% cut, rates for 3-year fixed terms (OO, P&I) now sit at 2.19% p.a. (2.60% p.a. comparison rate*).

That puts it among the lowest fixed rate home loans in our database at the time of writing. For comparison, the average 3-year fixed rate (OO, P&I) among home loans we track is currently 2.67% p.a.

Macquarie has also sharpened its offerings for investors, cutting rates for P&I loans with an LVR of ≤ 70% by 0.35%, and interest only loans with an LVR of ≤ 70% by 0.25%. Investors making P&I repayments will now be looking at rates as low as 2.59% p.a. (2.89% p.a. comparison rate*) 3-year terms. 

For an idea of how these offerings stack up against others on the market, head over to our fixed rate home loan comparison page, or browse the selection below.

Home loan comparisons on Mozo - last updated 24 February 2024

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  • Mozo Expert Choice Badge
    Home Fixed Rate

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.80% p.a.
    fixed 3 years
    6.05% p.a.

    Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.

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  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.64% p.a.
    fixed 3 years
    6.56% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.

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  • Fixed Rate Loan with Orange Advantage

    Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a.
    fixed 2 years
    6.16% p.a.

    Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.

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  • Fixed Rate

    Owner Occupier, Principal & Interest, <80% LVR

    interest rate
    comparison rate
    Initial monthly repayment
    6.54% p.a.
    fixed 2 years
    7.10% p.a.

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

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  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.64% p.a.
    fixed 2 years
    6.52% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.

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* 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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