Macquarie home loans

3.1
Based on 187 Macquarie home loan product reviews.
Fact Checked
Last updated

About Macquarie 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.

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Editor’s pick: Macquarie Basic Home Loan (Fixed)

Basic Home Loan

  • Fixed
  • Owner Occupier
  • Principal & Interest
  • LVR 70-80%
Interest rate
5.65 % p.a.
Fixed 3 years
Comparison rate
6.06 % p.a.
No Partner link
  • Make extra repayments up to $10,000 a year

  • Option to split your home loan rate

  • No ongoing fees

  • No offset account

  • $350 documentation fee

Our verdict

Macquarie’s Basic Home Loan is available with a fixed or variable rate, but we’re discussing its fixed rates here.

Macquarie gives you the option to fix your interest rate with terms ranging between one to five years. The rate available to you will depend on your loan-to-value ratio (LVR), with the two-year and three-year fixed rates currently the most competitive.

There are some trade-offs to consider – while we like that extra repayments are available, they’re capped at $10,000 a year, which can be limiting if you want to pay off your home loan faster.

If your additional repayments exceed $10,000 a year, you may be up for break costs.

The Basic Home Loan doesn’t include an offset account, but you can benefit from no ongoing fees.

The ability to split your home loan into a fixed and variable rate can also give you the certainty of a fixed interest rate while still benefitting from any potential RBA rate cuts.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 11 February 2025 Important disclosures and comparison rate warning*
What are your home loan needs?

Your loan-to-value ratio (LVR): 50%

Loan amount and LVR will affect interest rates.

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR<70%
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    6.05 % p.a.
    Initial monthly repayment
    $2,855
    Go to site

    No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.

  • Offset Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <70%
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    6.28 % p.a.
    Initial monthly repayment
    $2,855
    Go to site

    Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.

  • Basic Home Loan

    • Fixed
    • Investment
    • Principal & Interest
    • LVR <70%
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.24 % p.a.
    Initial monthly repayment
    $2,899
    No Partner link

  • Offset Home Loan

    • Fixed
    • Investment
    • Principal & Interest
    • LVR <70%
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.46 % p.a.
    Initial monthly repayment
    $2,899
    No Partner link

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    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.

  • Offset Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.39 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    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.

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Macquarie home loan ratings

Overall customer rating for Macquarie home loans

3.1
Based on 187 product reviews.

Customer reviews

Important disclosures

Macquarie products

Macquarie Bank home loans: FAQs

Who owns Macquarie Bank?

Macquarie is operated by Macquarie Group Limited.

Is Macquarie Bank online only?

Macquarie Bank does not have branches for its customers, but you can still contact Macquarie via email, live chat or over the phone.

How long does pre-approval take at Macquarie Bank?

Macquarie says it can offer home loan pre-approval in one business day, but this could vary depending on your individual circumstances.

Does Macquarie Bank have a maximum borrowing amount for home loans?

Macquarie Bank has a maximum borrowing amount of $10 million for property.

What do I need to apply for a Macquarie home loan?

You can apply online for a Macquarie home loan. Here is some of the eligibility criteria:

  • 18 years old or over
  • an Australian citizen, or a permanent or temporary resident
  • an Australian tax resident living in Australia
  • an Australian mobile number
  • income from an employer (PAYG) or self-employed
  • a single applicant or with a co-borrower.

Home loan quick links


* 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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