Best rate (up to 1 year)
0.55% p.a.1 year
Minimum deposit
$5,000.00
Interest paid to another bank?
yes

Mozo editorial review Macquarie Term Deposit

Last updated: 27 October 2020.

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What's hot
  • 0.55% p.a for a 1 year term
  • Terms ranging from 1 month to 5 years
  • Interest can be paid to another account
What's not
  • Minimum deposit of $5,000
  • 31 days notice required if customers want to withdraw their funds before the maturity date.
Mozo snapshot

With interest rates as high as 0.55% for a 5 year term, a range of term options and no account fees, the Macquarie Term Deposit account could be just the account you need to help achieve your personal savings goals.

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Key features

Savers will have access to a number of choices with the Macquarie Term Deposit depending on how long they wish to lock their money away for, with terms from as short as 1 month all the way up to five years. 

Of course, each term comes with its own interest rate, with the highest currently on offer being 0.55% for a 5 year term. Just keep in mind that a minimum deposit of $5,000 and a maximum deposit of $1,000,000 applies to all Macquarie Term Deposits.

The Macquarie Term Deposit also offers some flexible features. For example, if you’re an existing Macquarie client, you’ll have the ability to connect your term deposit account with your Macquarie Cash Management Account (CMA) to help you better manage your investments and cash flow.

Another feature that comes with this account is that you’ll have the freedom to choose how often you receive interest payments and you’ll also have the option to automatically roll over your account should you wish to keep it once it reaches maturity - just be sure to check that you’ve still got a competitive rate first. 

On top of all this, the Macquarie Term Deposit gives you the option to have your interest paid into a different bank account.

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Who is it good for

With a wide range of term options plus a few flexible features, if you’re an Aussie who’s looking for somewhere to lock away your cash so you can start building up your savings, then the Macquarie Term Deposit could be a top-notch option for you.

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Any catches

As with most term deposits, the Macquarie Term Deposit requires at least 31 days notice should you wish to withdraw funds from your account before it reaches maturity.

Details

Rates and fees information correct as at 30 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 0.05% p.a. ($5,000 to $1,000,000)

  • 0.05% p.a. ($5,000 to $1,000,000)

  • 0.40% p.a. ($5,000 to $1,000,000)

  • 0.40% p.a. ($5,000 to $1,000,000)

  • 0.50% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

  • 0.55% p.a. ($5,000 to $1,000,000)

Other financial bits
  • $5,000.00

  • $1,000,000.00

Features
  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • none

Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Macquarie term deposits rated by the Mozo community?

Overall
7.9/10
Price
7.1/10
Features
6.8/10
Customer service
7.8/10
Convenience
7.1/10
Trust
7.8/10

Latest review of Macquarie Term Deposit

  • Overall 6/10
    poor rates good customer service

    I find term deposits with major banks are very inflexible with poor interest rates

    Read full review

    I find term deposits with major banks are very inflexible with poor interest rates

    Price
    7/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    3/10
    Trust
    5/10
    Less
    Lorraine, Queensland reviewed over 8 years ago
Macquarie

About Macquarie

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.

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