Rates and fees verified as correct at 27 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
The fixed rate Basic Home Loan from Macquarie is a fee free option - no service or application fees in sight. Don’t let the name fool you though, the Basic Home Loan is packed with handy features to help you save money on your mortgage like free extra repayments and the ability to make redraws. Just keep in mind that these features do come with conditions - your extra repayments are capped at 5% p.a. and redraws will attract a fee if you do it over the counter. You can also bundle your Basic Home Loan - or any Macquarie home loan for that matter - with a Macquarie Credit Card, and skip paying the annual credit card fee for the life of your loan. This loan is only available for amounts between $150,000 and $750,000, for borrowers with an LVR of less than 80%.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 2.19% p.a. | 2.53% p.a. | $0.00 | $0 | Go to site | ||
| 2.09% p.a. | 2.43% p.a. | $0.00 | $0 | Go to site | ||
| 2.59% p.a. | 2.83% p.a. | $0.00 | $0 |
If you opt for the variable rate Basic Home Loan, you’ll get all the great features packed into the fixed rate alternative, but with added flexibility. You won’t pay upfront or service fees on this loan, and borrowers can get their hands on amounts up to $5,000,000 and in some circumstances, with an LVR up to 95%. Flexible features include unlimited fee free extra repayments, unlimited free redraws and the opportunity to take repayment holidays. You can also choose how you repay your loan by opting for fortnightly or monthly repayments, and either a principal and interest or interest only loan. If you’re a traveller, check out the Flyer option and earn Qantas points on your home loan balance.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 3.24% p.a. | 3.25% p.a. | $0.00 | $0 | |||
| 2.99% p.a. | 3.00% p.a. | $0.00 | $0 | |||
| 2.99% p.a. | 3.00% p.a. | $0.00 | $0 | |||
| 3.04% p.a. | 3.05% p.a. | $0.00 | $0 | |||
| 3.04% p.a. | 3.05% p.a. | $0.00 | $0 | |||
| 2.49% p.a. | 2.49% p.a. | $0.00 | $0 | Go to site | ||
| 2.54% p.a. | 2.54% p.a. | $0.00 | $0 | Go to site | ||
| 2.64% p.a. | 2.64% p.a. | $0.00 | $0 | Go to site | ||
| 2.64% p.a. | 2.64% p.a. | $0.00 | $0 | |||
| 3.85% p.a. | 3.86% p.a. | $0.00 | $0 | |||
| 3.85% p.a. | 3.86% p.a. | $0.00 | $0 | |||
| 2.69% p.a. | 2.69% p.a. | $0.00 | $0 | |||
| 2.79% p.a. | 2.80% p.a. | $0.00 | $0 | |||
| 2.89% p.a. | 2.90% p.a. | $0.00 | $0 | |||
| 2.89% p.a. | 2.90% p.a. | $0.00 | $0 |
The fixed rate Offset Home Loan Package from Macquarie is similar to the fixed rate Basic Home Loan, in that it’s available for amounts up to $750,000, for borrowers with an LVR lower than 80%. It differs in that you will pay a half-yearly service fee. The tradeoff for this fee is the use of a 100% offset account to keep your home loan costs low. Other money saving features include the ability to make extra repayments up to 5% each year, choose between an interest only or principal and interest loan and make your repayments either fortnightly or monthly to suit your schedule.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.19% p.a. | 2.81% p.a. | $248.00 yearly | $0 | ||
| 2.59% p.a. | 3.09% p.a. | $248.00 yearly | $0 |
Borrowers who opt for a variable rate Offset Home Loan Package from Macquarie can secure up to $5,000,000 and depending on your situation, up to 95% of the property’s value. Some of the flexible features included with this package are unlimited free extra repayments, the option to take repayment holidays, fee free online redraws and the use of a 100% offset account. You can also opt for either monthly or fortnightly repayments to suit your budget and choose either a principal and interest or interest only loan. Just keep in mind that in return for all these great features, you will pay a half-yearly service fee.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 3.24% p.a. | 3.51% p.a. | $248.00 yearly | $0 | |||
| 2.99% p.a. | 3.26% p.a. | $248.00 yearly | $0 | |||
| 2.99% p.a. | 3.26% p.a. | $248.00 yearly | $0 | |||
| 3.04% p.a. | 3.31% p.a. | $248.00 yearly | $0 | |||
| 3.04% p.a. | 3.31% p.a. | $248.00 yearly | $0 | |||
| 2.49% p.a. | 2.76% p.a. | $248.00 yearly | $0 | Go to site | ||
| 2.54% p.a. | 2.81% p.a. | $248.00 yearly | $0 | Go to site | ||
| 2.64% p.a. | 2.92% p.a. | $248.00 yearly | $0 | |||
| 2.64% p.a. | 2.92% p.a. | $248.00 yearly | $0 | |||
| 3.85% p.a. | 4.11% p.a. | $248.00 yearly | $0 | |||
| 3.85% p.a. | 4.11% p.a. | $248.00 yearly | $0 | |||
| 2.69% p.a. | 2.97% p.a. | $248.00 yearly | $0 | |||
| 2.79% p.a. | 3.07% p.a. | $248.00 yearly | $0 | |||
| 2.89% p.a. | 3.17% p.a. | $248.00 yearly | $0 | |||
| 2.89% p.a. | 3.17% p.a. | $248.00 yearly | $0 |
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.
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
Opt for a Basic Home Loan from Macquarie and you won’t pay any account management fees at all! But keep in mind that if you go for the Offset Home Loan package, you will pay a half-yearly service fee on your mortgage.
Got a Macquarie credit card? Want one? When you bundle your credit card with your Macquarie home loan, the annual credit card fee will be waived for the life of your loan.
It’s all in the name for the Offset Account Home Loan Package! Choose this option from Macquarie in either a fixed or variable rate version and get full use of a 100% offset account.
Love to travel? You’ll love it even more with the Flyer option of a Macquarie home loan. You’ll pay a little extra interest, but in return, bag a bunch of Qantas Frequent Flyer points.
Mozo users have rated Macquarie home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
141 Reviews
They seem to be understanding and helpful when life gets in the way and you need a bit of assistance. Helped me through a tough patch, on track now.
Read full reviewThey seem to be understanding and helpful when life gets in the way and you need a bit of assistance. Helped me through a tough patch, on track now.
I requested the bank look at reviewing the rate they have me on of just over 5%. They have refused to do so on the basis of extremely weak arguments and it is an old product. There is an LVR of 25% involved. Service is absolute rubbish and they should remove care from customer care department and replace with couldn't care.
Read full reviewI requested the bank look at reviewing the rate they have me on of just over 5%. They have refused to do so on the basis of extremely weak arguments and it is an old product. There is an LVR of 25% involved. Service is absolute rubbish and they should remove care from customer care department and replace with couldn't care.
Macquarie have been more than helpful from the beginning. They have also reviewed and reduced our interest rates to remain competitive with current market rates.
Read full reviewMacquarie have been more than helpful from the beginning. They have also reviewed and reduced our interest rates to remain competitive with current market rates.
Large break cost fees on fixed loans. Not competitive on interest rates. Only positive is that they don't charge ATM fees for withdrawals.
Read full reviewLarge break cost fees on fixed loans. Not competitive on interest rates. Only positive is that they don't charge ATM fees for withdrawals.
Easy to deal with. Great online.
Read full reviewEasy to deal with. Great online.
If you’ve picked a Macquarie home loan to make your property buying dreams a reality, then you can either apply online, call Macquarie, or request a call from Macquarie’s mortgage team. Before you start, make sure you're eligible to apply with this quick checklist.
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