Macquarie makes a splash with new cuts to fixed home loans

By Kylie Moss · · 1 min read
Fact Checked
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Following the RBA rate cut in February, borrowers and mortgage holders have been eagerly watching the market and considering their options.

And in a move sure to send savvy switchers and new borrowers their way, Macquarie Bank has just dropped rates across its 1-5 year fixed home loan terms of up to 0.20%. 

This means, the 2 year rate for its Basic Home Loan for owner occupiers is now at a low 5.39% p.a. (5.82% comparison rate*) for borrowers with a 30% deposit or equity. With the average 2 year fixed rate in the Mozo database now sitting at 5.89%^, this provides an opportunity to lock in a decent rate now and get some stability back with your repayments. 

Macquarie even offers the option to split your loan, so should the RBA move again you can take advantage of a lower variable rate, as well as the locked in fixed rate.  

It also boasts market-leading turnaround times and once you submit your online application you’ll be matched with a dedicated home loan expert who’ll help you through to settlement. 

Read on for our expert rundown of the Macquarie Basic Home Loan to find out if this loan could be a good mortgage solution for you. 

Macquarie Fixed Home Loan

Important disclosures and comparison rate warning*
Macquarie Fixed 2 Year Home Loan
  • 5.39% fixed for 2 years (5.82% comparison rate*)
  • Extra repayments available ($10k/yr)
  • Split account option
Find out more

With competitively low fixed interest rates which vary depending on deposit), Macquarie’s Basic Home Loan brings with it a range of features like free extra repayments (up to $10,000 per year). Together with a split account option so you can split your loan between variable and fixed, the fixed 2 year Basic Home Loan from Macquarie is available to owner occupiers and investors alike. No offset account included. 30% deposit required.

Low Rate Variable Alternative

Important disclosures and comparison rate warning*
Unloan - Variable Home Loan
  • 5.74% p.a. variable rate (5.65% p.a. comparison rate*)
  • Zero upfront or ongoing fees
  • Low cost home loan winner - Mozo Experts Choice Awards 2023, 2024 & 2025^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.74% p.a. variable rate (5.65% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.

^ source: mozo.com.au as at 20 March 2025, leading fixed rates for Owner occupier, principal & interest home loans at $400,000, 70% LVR

* 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 Home Loan Awards

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