Macquarie Line of Credit
A flexible solution with investor-friendly features
Our Macquarie Line of Credit Loan is designed for home buyers and investors who want the flexibility to easily access the equity in their property. The loan has a global borrowing facility limit that allows you to access funds as and when needed.
Features and benefits
The Macquarie Line of Credit loan includes:
- No application fee
- Global borrowing limit
- Interest capitalisation feature
- Up to 10 accounts (after settlement)
- Redraw facility
- Interest only option
- Fixed rate options (one to five years)^^
- Convenient account access 24 hours a day, seven days a week
- Can be packaged with a Macquarie Visa Platinum Card** to receive a discount off the standard variable interest rate.
When you select the Macquarie Line of Credit loan as part of the Optimum package additional benefits include
- 1.01% discount off the standard variable interest rate+, for the life of the loan when you borrow up to 80% of the property value
- Macquarie Visa Platinum Card**
- The Macquarie Visa Platinum Card annual fee is waived as part of the Optimum package***
- Free annual variationº.
To assist you when comparing home loan products, please view the Home Loan Key Facts Sheet and the Credit Card Key Facts Sheet.
What next?
For more information call us on 1800 245 555 or speak to your financial adviser. |
More information
Features
- Global borrowing limit – makes it easy to access your funds to use for other purposes.
- Interest capitalisation – you can capitalise interest on part of your home loan. Talk to your adviser about the benefits of this strategy and whether it is relevant to your personal situation.
- Multiple accounts to manage your wealth – you can choose different features for each account including fixed or variable interest rates, and principal and interest or interest only accounts.
- Principal and Interest account splits – are available to help you pay off your personal debt sooner.
Banking with Macquarie
- Convenient access – via phone and internet banking.
- Free ATM access – using the wide range of ATMs in our 'home network'~.
- Credit card option – as part of the Optimum package, a Macquarie Visa Platinum Card** offers a choice of rewards programs††, a wide range of complimentary insurances# and the flexibility of up to 55 days interest free on purchases†.
For more information, see our product overview brochure.
Rates and fees
Variable interest rates - effective 9 May 2013
| Macquarie Line of Credit | Home loan interest rate | Comparison rate* | |
|---|---|---|---|
|
Standard discounted rate+ (1.01% discount off SVR) for loans with a loan to value ratio of 80% or less |
5.19%pa | n/a | |
| Standard Variable Interest Rate (SVR) | 6.20%pa | 6.20%pa | |
Fixed rates - effective 1 June 2013
| Macquarie Line of Credit | Home loan interest rate^^ | Comparison rate*^ |
|---|---|---|
| 1 Year Fixed Rate |
4.95%pa |
5.26%pa |
| 2 Year Fixed Rate |
4.99%pa |
5.23%pa |
| 3 Year Fixed Rate |
4.99%pa |
5.21%pa |
| 4 Year Fixed Rate |
5.69%pa |
5.43%pa |
| 5 Year Fixed Rate |
5.69%pa |
5.46%pa |
Fixed rates only apply to Classic, Premium Optimum and Line of Credit Optimum products.
At the end of the fixed rate period, the interest rate will revert to either 0.91% discount off the SVR if LVR ≤ 80%, or 0.86% discount off the SVR if LVR > 80%, being the current standard discounted rates. Free rate lock for 1, 2 and 3 year fixed rates until 28 June 2013.
For Macquarie Bank Mortgage Solutions fixed and credit card rates see our rate card.
Account management fees:
An annual account management fee of $398 applies to the Optimum package, payable in two instalments of $199 every six months. One fee will apply for up to five accounts, where the loan applications are submitted simultaneously for the same borrower on the Optimum package.
Where the Macquarie Line of Credit loan is not part of a package the annual account management fee charged is $198 per annum.
Application fees:
- No application fee
- Free annual variationº
- Additional 0.10% life of loan discount for a single loan greater than $1 million~~.
Other fees and charges apply. Please see the fees and charges guide for full details.
