6.6 / 10

based on 315 Macquarie banking product reviews as rated by Mozo community

Macquarie home loans

Macquarie is a homegrown success story - it began in Sydney in 1969 and has since flourished into a global business, operating in 28 countries around the world. It has a range of home loans on offer to suit every budget, lifestyle and goal, so whether you’re buying your first home or your fifth, you’ll find a mortgage to make it happen here. And for all the globetrotters out there, you’re in luck - choosing a Macquarie home loan can also help you rack up Frequent Flyers points quicker. Plus, In 2021 Maquarie took out a Mozo Experts Choice Home Loan Award  in the Packaged  Home Loan category.

Check out the details of all their mortgage options below.

What home loans do Macquarie offer?

Rates and fees verified as correct at 28 July, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

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%.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

2.19% p.a.

2.42% p.a.

$0.00

$0

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2.09% p.a.

2.32% p.a.

$0.00

$0

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2.59% p.a.

2.60% p.a.

$0.00

$0

Variable Rate Home Loans

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.

Home loan repayments calculator

years

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

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2.34% p.a.

2.34% p.a.

$0.00

$0

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2.39% p.a.

2.39% p.a.

$0.00

$0

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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

Fixed Package Home Loan

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.

Home loan repayments calculator

years

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

Variable Package Home Loan

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.

Home loan repayments calculator

years

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

Macquarie home loan features in a glance

Free icon

No account management fees

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.

Award icon

Bundling option

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.

Offset icon

Offset account

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.

Award icon

Flyer option

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.

How are Macquarie home loans rated?

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.

Icon of home-loans
Macquarie home loans
Overall
6.0/10
Price
Features
Customer service
Convenience
Trust

146 Reviews

Recent Macquarie home loan reviews

Macquarie Home Loan
Overall 10/10
very competitive interest rate

Very helpful with interest rates when I rang with them.

Read full review

Very helpful with interest rates when I rang with them.

Price
9/10
Features
10/10
Customer service
10/10
Convenience
6/10
Trust
9/10
Less
Darren, Western Australia, reviewed 27 days ago
Macquarie Basic Home Loan (Fixed)
Overall 10/10
Home loan approved in 3 days with 2.09% rate

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 review

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

Price
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Erwin, Victoria, reviewed 2 months ago
Macquarie Home Loan
Overall 9/10
An excellent banking provider with great rates.

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 review

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.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
9/10
Trust
9/10
Less
Paul, New South Wales, reviewed 2 months ago
Macquarie Basic Home Loan
Overall 1/10
callous, ruthless, and cowardly

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 review

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.

Customer service
1/10
Trust
1/10
Less
Matt, New South Wales, reviewed 3 months ago
Macquarie Offset Home Loan (Package)
Overall 10/10
The experience with Macquarie has been first class

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 review

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.

Price
9/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Paul, New South Wales, reviewed 5 months ago

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

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.

I…

  • am 18 or older
  • have an Australian address, email and phone number
  • have no more than 3 properties as security
  • am applying as an individual or joint applicant (not as a business)
When you apply, you should have a few details on hand to make the process run smoothly, including:
  • Your personal and contact details
  • Information about your financial situation, including income, assets and debts
  • Details about the property you’re planning to buy

Home loan quick links