Your selected savings accounts
As a Mozo Expert's Choice Award winner, Macquarie Bank offers some of the top savings products in our database. For example, Mozo's experts picked the Macquarie Savings Account as one of the best 'No Strings' and 'Kick Start' accounts in 2024.
Welcome rate of 5.10%
No fees or penalties
No deposit conditions (up to $250,000)
Introductory rate only lasts 4 months
Must have a linked Macquarie Transaction Account
The Mozo Experts Choice Award-winning Macquarie’s Savings Account gives savers a handy interest rate boost before reverting to a competitive ongoing rate. For the first four months you’ll receive an intro rate of 5.10% p.a., which is available on balances of up to $250,000.
After this honeymoon period, Macquarie's Savings Account continues to offer competitive ongoing rate of 4.75% p.a. Just be mindful the ongoing rate will depend on your savings balance (on accounts over $1m, the variable ongoing rate drops to 2.50% p.a.).
While there are no account keeping or deposit fees, Macquarie does require that savers have a Macquarie Transaction Account to qualify. If you qualify you can have your new account open online in just three minutes.
Note that there's an added bonus of having a Macquarie Bank Savings Account: the rate earned on a linked Macquarie Bank Account is 2.50% p.a., which is extra interest earned on your money. This is worth considering given that many other regular bank accounts don’t offer any interest.
You can open a Macquarie Transaction or Savings account for yourself or with someone else (joint account) by completing an online application via Macquarie Online Banking or via the Macquarie Mobile Banking app.
Head to Macquarie Bank’s website to learn more, or give ther customer service line a call.
Your selected savings accounts
For easey online sign up and use of accoount its wonderful... No overseas transaction fees and ease of use was wonderful
I was looking for a savings account with great interest. The other banks were oy offering 1% and Macquarie was the only one that offered decent interest rates.
Macquarie offer a good interest rate with no hoops to jump through. However the App is a bit clunky and boring and the font too small.
I love that when money is deducted and deposited it sends me a text message to let me know
This online bank is very easy to navigate. Customer Service is excellent. Good value interest rates Flexibility to remove savings when you want without any penalty or affecting your interest rate.
I recently took out a savings account with Macquarie and I’ve been really impressed. Signing up was quick and easy, and done completely online. I’m getting a great interest rate (the highest I could find), and I can withdraw money as much as I like without any penalties. There are no account fees and it’s been a no fuss process. I really feel like I’ve gotten something for nothing, and I’m very happy. I really have noticing to complain about. I highly recommend!
Pros: - good interest rate for savings account - nice app which is easy to use Cons: - not many branches - less accessible in South Australia
Called about a few issues that I had been able to fix on the app. Had to make several calls each time and unwilling to help just told to use the app.
As a victim survivor of domestic violence, I lacked autonomy. Now, with my acquired bank account, I have my autonomy to own my life and choice - my voice is heard and acknowledged.
This is a great savings bank. It has great service and interest rates for saving.
^See information about the Mozo Experts Choice Savings Account Awards
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