6.5/10

Based on 409 Macquarie product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Macquarie term deposits

Macquarie a global financial provider offers a variety of services to its clients. Macquarie provides a variety of products including banking, financial, advisory, investment and funds management services. Since its founding in 1969 Macquarie has become one of Australia's largest companies today.

Macquarie offers the following term deposits

Rates and fees verified as correct at 21 July 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Best rate (up to 1 year) Minimum Deposit Interest paid to another bank?
Term Deposit

4.95% p.a.1 year ($5,000 to $1,000,000)

$5,000.00

yes

How are Macquarie term deposits rated?

Mozo users have rated Macquarie term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of term-deposits
Macquarie term deposits customer reviews
Overall
6.7/10
Price
6.7/10
Features
5.8/10
Customer service
7.0/10
Convenience
5.9/10
Trust
6.6/10
Based on 20 Macquarie product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Macquarie term deposit reviews

Macquarie Term Deposit
Overall 1/10
Horrible Greedy Bank

I used Macquarie for term deposit because I though that they were a successful Bank. But I discovered that this Bank will jusy use you, Customer service appauling. Honesty zero. Macquarie took 25% of my Term deposit interest, YES 25% due to my need to break the period. Macquarie then paid me the incorrect amount, shortling me $ 8.20. Now its not the little amount, it is the fact that MAcquarie got my pay out figure wrong and I had to fight for the correct amount. I still have not got from Macquarie what I am entitled. The payout date arrived and I had a buy contract to settle on that date, NO MONEY. I spend hours on the phone, honest hours. Horrid Bank. Wouldnt ever use them again. NO WAY

Read full review

I used Macquarie for term deposit because I though that they were a successful Bank. But I discovered that this Bank will jusy use you, Customer service appauling. Honesty zero. Macquarie took 25% of my Term deposit interest, YES 25% due to my need to break the period. Macquarie then paid me the incorrect amount, shortling me $ 8.20. Now its not the little amount, it is the fact that MAcquarie got my pay out figure wrong and I had to fight for the correct amount. I still have not got from Macquarie what I am entitled. The payout date arrived and I had a buy contract to settle on that date, NO MONEY. I spend hours on the phone, honest hours. Horrid Bank. Wouldnt ever use them again. NO WAY

Price
5/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Stanley, Queensland, reviewed 10 months ago
Macquarie Term Deposit
Overall 1/10
DONT USE THIS HORRIBLE BANK

Macquarie are by far the most greedy, horrid Banks in this country. Their customer service is non existant. I tried to break a Term Deposit, they took 25% of my interest as a penalty. They kept me waiting on hold for an hour. NO MANAGER would speak to me. This is a greedy organisation which I suggest NO-ONE uses.

Read full review

Macquarie are by far the most greedy, horrid Banks in this country. Their customer service is non existant. I tried to break a Term Deposit, they took 25% of my interest as a penalty. They kept me waiting on hold for an hour. NO MANAGER would speak to me. This is a greedy organisation which I suggest NO-ONE uses.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Stanley, Queensland, reviewed 11 months ago
Macquarie Term Deposit
Overall 2/10
Too tricky by half: good rates but I'm going

Macquarie is very tricky with its Term Deposits. You think you are investing for a fixed-term but It AUTOMATICALLY sets them to rollover. Then you have to go online to update the pre-set maturity instructions. But there is NO CONFIRMATION that your instructions have been received and acted upon. In fact, the website / app says it might take 1-2 days to be actioned. So you think there will be some kind of confirmation. Nope. This is a real pity as the transaction account is very convenient with a good interest rate and the TD rates are okay, though not as good as Judo Bank. BTW even Judo Bank with its basic website can handle updates to maturity instructions.. Sorry Mac, no more TDs with you.

Read full review

Macquarie is very tricky with its Term Deposits. You think you are investing for a fixed-term but It AUTOMATICALLY sets them to rollover. Then you have to go online to update the pre-set maturity instructions. But there is NO CONFIRMATION that your instructions have been received and acted upon. In fact, the website / app says it might take 1-2 days to be actioned. So you think there will be some kind of confirmation. Nope. This is a real pity as the transaction account is very convenient with a good interest rate and the TD rates are okay, though not as good as Judo Bank. BTW even Judo Bank with its basic website can handle updates to maturity instructions.. Sorry Mac, no more TDs with you.

Price
7/10
Features
3/10
Customer service
5/10
Convenience
1/10
Trust
1/10
Less
L&m, New South Wales, reviewed 12 months ago
Macquarie Term Deposit
Overall 4/10
Too difficult to deal with. better options out the

Harder than necessary to open term deposits. Ask for information they already have every time. Sure it was set up by a gov bureaucrat. Is easier to go some where else.

Read full review

Harder than necessary to open term deposits. Ask for information they already have every time. Sure it was set up by a gov bureaucrat. Is easier to go some where else.

Features
3/10
Customer service
8/10
Convenience
2/10
Trust
5/10
Less
Jon, Tasmania, reviewed about 1 year ago
See all term deposit reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Term deposit quick links