Rates and fees verified as correct at 28 July, 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. | 2.42% p.a. | $0.00 | $0 | Go to site | ||
| 2.09% p.a. | 2.32% p.a. | $0.00 | $0 | Go to site | ||
| 2.59% p.a. | 2.60% 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 | |
|---|---|---|---|---|---|---|
| 2.99% p.a. | 3.00% 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 | |||
| 2.79% p.a. | 2.80% p.a. | $0.00 | $0 | |||
| 2.79% p.a. | 2.80% p.a. | $0.00 | $0 | |||
| 2.29% p.a. | 2.29% p.a. | $0.00 | $0 | Go to site | ||
| 2.34% p.a. | 2.34% p.a. | $0.00 | $0 | Go to site | ||
| 2.39% p.a. | 2.39% p.a. | $0.00 | $0 | Go to site | ||
| 2.39% p.a. | 2.39% p.a. | $0.00 | $0 | |||
| 3.35% p.a. | 3.36% p.a. | $0.00 | $0 | |||
| 3.35% p.a. | 3.36% p.a. | $0.00 | $0 | |||
| 2.39% p.a. | 2.39% p.a. | $0.00 | $0 | |||
| 2.49% p.a. | 2.50% p.a. | $0.00 | $0 | |||
| 2.59% p.a. | 2.60% p.a. | $0.00 | $0 | |||
| 2.59% p.a. | 2.60% 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. | 2.63% p.a. | $248.00 yearly | $0 | ||
| 2.59% p.a. | 2.72% 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 | |
|---|---|---|---|---|---|---|
| 2.99% p.a. | 3.26% 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 | |||
| 2.79% p.a. | 3.07% p.a. | $248.00 yearly | $0 | |||
| 2.79% p.a. | 3.07% p.a. | $248.00 yearly | $0 | |||
| 2.29% p.a. | 2.57% p.a. | $248.00 yearly | $0 | Go to site | ||
| 2.34% p.a. | 2.62% p.a. | $248.00 yearly | $0 | Go to site | ||
| 2.39% p.a. | 2.68% p.a. | $248.00 yearly | $0 | |||
| 2.39% p.a. | 2.68% p.a. | $248.00 yearly | $0 | Go to site | ||
| 3.35% p.a. | 3.62% p.a. | $248.00 yearly | $0 | |||
| 3.35% p.a. | 3.62% p.a. | $248.00 yearly | $0 | |||
| 2.39% p.a. | 2.68% p.a. | $248.00 yearly | $0 | |||
| 2.49% p.a. | 2.77% p.a. | $248.00 yearly | $0 | |||
| 2.59% p.a. | 2.87% p.a. | $248.00 yearly | $0 | |||
| 2.59% p.a. | 2.87% p.a. | $248.00 yearly | $0 |
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.
146 Reviews
Very helpful with interest rates when I rang with them.
Read full reviewVery helpful with interest rates when I rang with them.
Pro: ~ i got my loans approved in just 3 days while other banks may take a month to do so ~ got a conditional approval after just 1.5hours phone call ~ cheap rate, and accept apartment as security as well ~ super responsive staff members, they allocate their time to help you with tight settlement date Cons: None so far
Read full reviewPro: ~ i got my loans approved in just 3 days while other banks may take a month to do so ~ got a conditional approval after just 1.5hours phone call ~ cheap rate, and accept apartment as security as well ~ super responsive staff members, they allocate their time to help you with tight settlement date Cons: None so far
Macquarie are quick to respond to enquires. They try to do the right thing, e.g. don't charge a ATM fees if you have to use another provider...if they are able. Are secure and have competitive rates. Also have a good net banking service.
Read full reviewMacquarie are quick to respond to enquires. They try to do the right thing, e.g. don't charge a ATM fees if you have to use another provider...if they are able. Are secure and have competitive rates. Also have a good net banking service.
When shopping for a mortgage, A good interest rate and ease of approval aren't the only things to consider. The compassion and decency of the lender, if things go pair-shaped, should also be a very important thing to consider, you will not find these traits at Macquarie Bank Some lenders hold life as a very low valued commodity.
Read full reviewWhen shopping for a mortgage, A good interest rate and ease of approval aren't the only things to consider. The compassion and decency of the lender, if things go pair-shaped, should also be a very important thing to consider, you will not find these traits at Macquarie Bank Some lenders hold life as a very low valued commodity.
Macquarie have been extremely easy to do business with, their customer service is excellent and the online and App experience is very easy to navigate.
Read full reviewMacquarie have been extremely easy to do business with, their customer service is excellent and the online and App experience is very easy to navigate.
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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