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. Check out the details below.
Rates and fees verified as correct at 15 August, 2020. Other information correct at the time of writing.
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 ‡ | |
|---|---|---|---|---|---|---|
| 3.04% p.a. | 3.09% p.a. | $0.00 | $0 | |||
| 2.39% p.a. | 2.67% p.a. | $0.00 | $0 | |||
| 2.19% p.a. | 2.60% p.a. | $0.00 | $0 | Go to site |
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 ‡ | |
|---|---|---|---|---|---|---|
| 3.95% p.a. | 3.96% p.a. | $0.00 | $0 | |||
| 3.95% p.a. | 3.96% p.a. | $0.00 | $0 | |||
| 2.89% p.a. | 2.89% p.a. | $0.00 | $0 | |||
| 2.99% p.a. | 3.00% p.a. | $0.00 | $0 | |||
| 3.09% p.a. | 3.10% p.a. | $0.00 | $0 | |||
| 3.09% p.a. | 3.10% p.a. | $0.00 | $0 | |||
| 3.34% p.a. | 3.35% p.a. | $0.00 | $0 | |||
| 3.19% p.a. | 3.20% p.a. | $0.00 | $0 | |||
| 3.09% p.a. | 3.10% p.a. | $0.00 | $0 | |||
| 3.14% p.a. | 3.15% p.a. | $0.00 | $0 | |||
| 3.14% p.a. | 3.15% p.a. | $0.00 | $0 | |||
| 2.59% p.a. | 2.59% p.a. | $0.00 | $0 | |||
| 2.64% p.a. | 2.64% p.a. | $0.00 | $0 | |||
| 2.74% p.a. | 2.74% p.a. | $0.00 | $0 | Go to site | ||
| 2.74% p.a. | 2.74% 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 ‡ |
|---|---|---|---|---|---|
| 3.04% p.a. | 3.35% p.a. | $248.00 yearly | $0 | ||
| 2.39% p.a. | 2.93% 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 ‡ |
|---|---|---|---|---|---|
| 3.95% p.a. | 4.21% p.a. | $248.00 yearly | $0 | ||
| 3.95% p.a. | 4.21% p.a. | $248.00 yearly | $0 | ||
| 2.89% p.a. | 3.17% p.a. | $248.00 yearly | $0 | ||
| 2.99% p.a. | 3.26% p.a. | $248.00 yearly | $0 | ||
| 3.09% p.a. | 3.36% p.a. | $248.00 yearly | $0 | ||
| 3.09% p.a. | 3.36% p.a. | $248.00 yearly | $0 | ||
| 3.34% p.a. | 3.61% p.a. | $248.00 yearly | $0 | ||
| 3.09% p.a. | 3.36% p.a. | $248.00 yearly | $0 | ||
| 3.09% p.a. | 3.36% p.a. | $248.00 yearly | $0 | ||
| 3.14% p.a. | 3.41% p.a. | $248.00 yearly | $0 | ||
| 3.14% p.a. | 3.41% p.a. | $248.00 yearly | $0 | ||
| 2.59% p.a. | 2.86% p.a. | $248.00 yearly | $0 | ||
| 2.64% p.a. | 2.91% p.a. | $248.00 yearly | $0 | ||
| 2.74% p.a. | 3.02% p.a. | $248.00 yearly | $0 | ||
| 2.74% p.a. | 3.02% p.a. | $248.00 yearly | $0 |
‡ 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.
| No account management feesNo 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. |
| Bundling optionBundling 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 accountOffset 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. |
| Flyer optionFlyer 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. |
There’s nothing better than first hand knowledge - so if you want to find out what Macquarie’s customers think of it in a range of areas, from price, to customer service to trust, check out our customer reviews section.
Easy online platform, great customer service with Australian customer service people, competitive rates and great features such as 9 offset accounts with home loan.
Easy online platform, great customer service with Australian customer service people, competitive rates and great features such as 9 offset accounts with home loan.
Ainslie, New South Wales, reviewed 8 days ago
So far, a very easy bank to deal with. Only setback is that they are online only, so no bank branches.
So far, a very easy bank to deal with. Only setback is that they are online only, so no bank branches.
Carol, Queensland, reviewed 15 days ago
The loan set up process was really easy and they offer competitive rates. The app is easy to follow and use. Their customer service team are easy to reach without long wait times and are helpful and skilled.
The loan set up process was really easy and they offer competitive rates. The app is easy to follow and use. Their customer service team are easy to reach without long wait times and are helpful and skilled.
Kiara, Victoria, reviewed 29 days ago
We have been really happy with Macquarie. It's a bit of a pain not having easy access to a 'physical' branch here in Victoria, but we haven't had any problems and have a very competitive rate.
We have been really happy with Macquarie. It's a bit of a pain not having easy access to a 'physical' branch here in Victoria, but we haven't had any problems and have a very competitive rate.
Emily, Victoria, reviewed about 2 months ago
Online only mortgage provider. Better interactions than my previous provider.
Online only mortgage provider. Better interactions than my previous provider.
Corey, New South Wales, reviewed about 2 months ago
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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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