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 16 August 2022
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Featured Product
Own Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR <60%
interest rate
comparison rate
Initial monthly repayment5.19% p.a.
fixed 1 year4.27% p.a.Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
CompareCompareOwn Home Loan
Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
- interest rate
- 5.59% p.a.
fixed 3 years
- comparison rate
- 4.60% p.a.
- interest rate
- 5.59% p.a.
fixed 3 years
- comparison rate
- 4.60% p.a.
- upfront fees
- $250
- Ongoing fees
- $250.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- -
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Own Home Loan
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
comparison rate
Initial monthly repayment4.49% p.a.
fixed 1 year3.81% p.a.No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
CompareCompareBasic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
- interest rate
- 5.29% p.a.
fixed 3 years
- comparison rate
- 4.14% p.a.
- interest rate
- 5.29% p.a.
fixed 3 years
- comparison rate
- 4.14% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $750,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
Read our Mozo Review to learn more about the Basic Home Loan
-
Fixed Rate Home Loan
Home Loan Package, Owner Occupier, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment5.57% p.a.
fixed 1 year4.03% p.a.Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 August 2022 and settle by 31 October 2022.
CompareCompareFixed Rate Home Loan
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 August 2022 and settle by 31 October 2022.
- interest rate
- 5.87% p.a.
fixed 3 years
- comparison rate
- 4.48% p.a.
- interest rate
- 5.87% p.a.
fixed 3 years
- comparison rate
- 4.48% p.a.
- upfront fees
- $0
- Ongoing fees
- $390.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free up to $10,000 p.a.
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $7,500,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 August 2022 and settle by 31 October 2022.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment4.55% p.a.
fixed 1 year3.91% p.a.Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
CompareCompareBasic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
- interest rate
- 5.35% p.a.
fixed 3 years
- comparison rate
- 4.23% p.a.
- interest rate
- 5.35% p.a.
fixed 3 years
- comparison rate
- 4.23% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $750,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
Read our Mozo Review to learn more about the Basic Home Loan
-
Mozo experts choice awards won:
- Split Home Loan - 2022
- Australia's Best Large Mutual Bank - 2022
Fixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%
interest rate
comparison rate
Initial monthly repayment4.99% p.a.
fixed 1 year3.63% p.a.Competitive fixed rates across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2022.
CompareCompareFixed Rate Home Loan
Competitive fixed rates across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2022.
- interest rate
- 5.59% p.a.
fixed 3 years
- comparison rate
- 4.04% p.a.
- interest rate
- 5.59% p.a.
fixed 3 years
- comparison rate
- 4.04% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $275.00
- Extra repayments
- yes - free up to $10,000 p.a.
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly, Fortnightly, Weekly
- Special Offers
Read our Mozo Review to learn more about the Fixed Rate Home Loan
* 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, loan amount and term entered. 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 Home Loan Awards
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