Your selected home loans
Macquarie is one of the largest mortgage lenders in Australia, falling just outside the Big Four banks. Its simple home loan offering includes a Basic Home Loan and an Offset Home Loan, both of which are available with either a variable or fixed interest rate, and as an owner-occupier or investment loan.
Competitive rates compared to the average
Unlimited extra repayments
No ongoing fees
No cost to redraw
Offset account not included
$350 documentation fee
Macquarie’s Basic Home Loan is a straightforward option for borrowers who are looking for a competitive interest rate from a well-established bank.
Interest rates are tiered depending on your loan-to-value ratio (LVR) and owner-occupier borrowers with a deposit of at least 20% (80% LVR) can access a variable interest rate of 6.19% p.a. (6.21% p.a. comparison rate*).
This is well below the current average variable rate in the Mozo database which is 6.75% p.a. (as at 15 October, 2024).
If you aren’t concerned with added features such as an offset account, Macquarie’s Basic Home Loan is a fairly no-fuss choice. We like that it comes with no ongoing fees, and a redraw facility you can withdraw extra payments from at no cost.
The maximum LVR for Macquarie’s owner-occupier home loans is 95%, but if you have a loan-to-value ratio of more than 80% you will need to factor in lenders mortgage insurance (LMI).
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Your selected home loans
Macquarie Bank's service is frustratingly inaccessible. Limited to 9-5, they're unreachable when you need help outside these times. Issues don’t adhere to business hours, and neither should they.
Very impressed with Macquarie's consistently great rates and how closely they worked with us.
There is no physical branch, however the app is simple and the bank refunds all atm transaction fees.
Interest rates are highly competitive, particularly when we initially refinanced with their fixed rate option. Customer service during the refinancing process was underwhelming and the process was delayed due to their poor customer service, ultimately meaning we ended up with a higher interest rate, due to a rate rise. Their online banking is fairly easy to use however it is not as extensive as some competitors. Customer service via phone or live chat is generally good however wait times can be long. Macquarie are going cashless which could be problematic for some.
Prompt polite responding to queries No long wait times when calling Good interest rates Ease of use of online and mobile software applications Good security Flexibility I have referred 2 people they came back very positive about the service and how Macquarie looked at products that would best suit them. Several years later and they are both still happy with Macquarie Have not come across any cons as yet
Macquarie have been really great to deal with. Their customer service team is knowledgable, they have flexibility to support your needs and online banking is easy. Rates are competitive
Pros - lack of physical banking options Cons - excellent website - ease of managing transactions online - good customer service - prompt response when issues arise
Macquarie Bank's home loan is excellent—competitive rates, great app functionality. The seamless experience, combined with their efficient service, makes managing your mortgage a breeze. Highly recommend!
Very happy with the process of applying for the loan. Very fast approval with an excellent rate - including all the additional features (eg offset account).
I just recently joined Macquarie Bank and so far so good. The management of funds has been relatively painless compared to other banks. We are considering them for future purchases/investments.
Macquarie is operated by Macquarie Group Limited.
Macquarie Bank does not have branches for its customers, but you can still contact Macquarie via email, live chat or over the phone.
Macquarie says it can offer home loan pre-approval in one business day, but this could vary depending on your individual circumstances.
Macquarie Bank has a maximum borrowing amount of $10 million for property.
You can apply online for a Macquarie home loan. Here is some of the eligibility criteria:
* 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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