Fixed welcome rate for 4 months on balances up to $250k
Variable ongoing rate on balances up to $1 million
Gretel savings account customer sitting in studio
Maximise your savings and earn a fixed welcome rate of 5.35% p.a. for 4 months on balances up to $250k.~
Rollover to our 4.75% p.a. variable ongoing rate, on balances up to $1 million.
Every dollar you deposit is working towards your savings goals, with no fees^ and no hoops to jump through.
Fixed welcome rate for 4 months at the time of account opening, on balances up to $250,000.~ Then, continue earning with our competitive variable ongoing rates.
Stepped interest is payable on deposits in Macquarie Savings Accounts based on your balance as follows:
| Rate | Balance |
|---|---|
| 4.75% p.a. | Up to $250,000 |
4.75% p.a. | $250,000.01 – $1,000,000 |
3.35% p.a. | $1,000,000.01 and above |
The above interest rates are current as at 17 November 2023, are variable and subject to change. For more information on how interest is calculated click here.
| Fee type | Fee amount |
|---|---|
Online payments Make internal transfers, pay anyone and BPAY® payments through online banking and mobile banking on an immediate or scheduled basis. | Free |
Dishonour fees We may allow your account to be debited even if there are insufficient funds to cover the amount of the debit either in full or in part. | Free |
Bank cheque Request a bank cheque issued by Macquarie with funds drawn immediately from your Savings Account. Bank cheques can be requested by phone or at a Macquarie branch. | Free |
| Transaction type | Limit |
|---|---|
Daily Pay Anyone Payment limit **The $100,000 limit applies if you use the Macquarie Authenticator App and are registered for Electronic Banking. Otherwise, a default limit of $5,000 applies. Your applicable daily limit applies to all of the daily Pay Anyone payments you make across all your eligible accounts linked to your Macquarie ID. If you hold a joint account, click here for information about how this limit applies to you. | $100,000 daily** |
NPP Payment sub-limit #This limit operates as a sub-limit of the daily Pay Anyone limit. The $10,000 limit applies if you use the Macquarie Authenticator App and are registered for Electronic Banking. Otherwise, a default limit of $5,000 applies. | $10,000 daily# |
Daily BPAY limit Some billers may impose their own limits. | Up to the available balance of your account |
| Terms and conditions | Link |
|---|---|
| Macquarie transaction and savings accounts terms and conditions | View conditions |
| Macquarie electronic banking terms and conditions | View conditions |
| Macquarie Variation Notice | Download PDF |
3 minutes
To open a Macquarie Savings Account, you’ll first need to open a Macquarie Transaction Account.
You can then link a savings account online or in app in minutes.
1 minute
If you already have a Macquarie Transaction Account:
Log in online or in-app. Select ‘Accounts’, then ‘Open an account’ in the menu to open a savings account.
A Macquarie Savings Account is available if you hold a Macquarie Transaction Account.
You can add one or more Macquarie Savings Accounts to your Macquarie Transaction Account during the application process, or in real time once the Macquarie Transaction Account has been opened.
For more information, please read our terms and conditions.
To add a Macquarie Savings Account once you’ve logged into Macquarie Online Banking:
Alternatively, you can:
To add a Macquarie Savings Account from the Macquarie Mobile Banking app:
Alternatively, you can:
To open a Macquarie Transaction Account you’ll need to download the Macquarie Mobile Banking app or complete our online application. We’ve designed this process to be as quick and easy as possible, so that you can start using your account straight away. Before we can open your account, we’ll need to verify your identity and may ask you for some additional information. We recommend reading our terms and conditions before applying.
To apply for a Macquarie Transaction Account:
Or
Download the Macquarie Mobile Banking app from the app store.
If you need to pause your application partway through, we’ll send you an email so you can resume it when you’re ready.
Once you open a Macquarie Transaction Account, you can link a savings account in online banking by selecting Accounts and clicking Open an account in the menu.
We don’t have any deposit conditions on Transaction Accounts, Offset Accounts or Savings Accounts, to get access to our great benefits and earn interest.
For example, you don’t need to make a minimum monthly deposit to use the platinum benefits or make free ATM withdrawals.
We don’t charge any fees in connection with our transaction and savings account products but others, such as other financial institutions, may.
Our Welcome rate offer is only available on your first savings account, on balances up to $250,000.00. The welcome rate is fixed at the time you apply for four months. After the expiry of your Welcome rate and on additional savings accounts, our stepped variable rates apply based on your balance. Should our stepped variable rates exceed the Welcome rate offer during the four-month period, interest will be calculated based on our stepped variable rates.
BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
Discover more about the Canstar awards at www.canstar.com.au
This information has been prepared by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Lending criteria, fees and T&Cs apply.
Government Guarantee: The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Macquarie Bank, of up to $A250,000. Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au
