Macquarie makes a splash with cuts to fixed home loans

With anticipation building around a possible RBA rate cut in February, borrowers and mortgage holders are 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 dropped rates across its 1- 3 year fixed home loan terms of up to 0.16%. 

This means, the 2 year rate for its Basic Home Loan for owner occupiers is now at a low 5.55% p.a. (6.02% comparison rate*) for borrowers with a 30% deposit or equity. With the average 2 year fixed rate in the Mozo database now sitting at 6.04%^, 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 eventuate 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 and its Offset Home Loan to find out if these loans could be a good mortgage solution for you. 

Macquarie Home Loans

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Important disclosures and comparison rate warning*
Macquarie Fixed 2 Year Home Loan
  • 5.55% fixed for 2 years (6.05% comparison rate*)
  • Extra repayments available ($10k/yr)
  • Split account option

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.

Macquarie Offset Fixed 2 Year Home Loan
  • 5.55% and (6.28% comparison rate*)
  • Extra repayments available ($10k/yr)
  • Convenient offset account

With competitively low fixed interest rates which vary depending on deposit), Macquarie’s Offset Fixed 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 and the freedom to open up to 10 offset accounts,, this home loan is available to owner occupiers and investors alike. 30% deposit required.

Low Rate Variable Alternatives

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Important disclosures and comparison rate warning*
Unloan - Variable Home Loan
  • 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
  • Zero upfront or ongoing fees
  • Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% 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.

Newcastle Permanent - Real Deal Home Loan
  • 5.99% variable rate (6.03% comparison rate*) for borrowing up to 80% loan to value ratio
  • Free extra repayments
  • Get up to $3,000 cashback by applying for a new purchase or refinancing online
Find out more

Featuring a competitive interest rate and no ongoing service fees, the Newcastle Permanent Real Deal Home Loan is just that: the real deal. Not only is it easy on the wallet, but this loan also comes with features like the option to make free extra repayments, split your loan between fixed and variable rates and use a partial offset account. Plus, you could get up to $3,000 cashback by applying for a new purchase or refinancing online, if approved.

^ source: mozo.com.au as at 28 January 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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