Interest rates for transaction, savings and business savings accounts

To find information about our interest rates on transaction, savings and business savings accounts see the below pages:

• Transaction accounts – visit our Transaction account page to see information about ongoing rates.
• Savings accounts – visit our Savings account page to see information about welcome rates and ongoing rates.
• Business savings accounts – visit our Business savings account page to see information about ongoing rates.

Macquarie customers

To view your interest rate information on the Macquarie Mobile Banking app or Macquarie Online Banking:

1. Log in to your account
2. Select your transaction or savings account from the account list
3. Select the I want to button
4. Select View account and interest details in the menu
5. All interest rate details including your interest rate and total interest earned is listed under the Interest details section.
    

If interest is payable on your account, it’s calculated on a daily basis using the following formula:

Daily closing balance X interest rate applicable to your Account/365.

The daily closing balance is the credit balance of your account at the end of a day. It includes all cleared and uncleared funds that have been deposited into your account within the lodgement times.

Stepped interest is payable on deposits in Macquarie Transaction, Savings and Business Savings Accounts based on your balance. Rates are variable and subject to change. Each rate applies to the portion of the total balance that falls within that balance bracket.

Interest is credited to your account monthly at the end of each calendar month. If you close your account, we’ll pay you any interest you’ve accrued on the day your account is closed. There is no interest paid on deposits in Macquarie Offset accounts.

Interest calculations are rounded to the nearest cent. All current interest rates are available on our website.

Where we tell you that stepped interest applies to your account, there may be different interest rates applicable to different portions of your account balance. This is described further in the example below.

For example, a customer has a savings account with a daily closing balance of $1,100,000 and the following stepped interest rates apply:

The customer would receive:

• 4.75% p.a. interest on the first $250,000
• 4.75% p.a. interest on the amount between $250,000.01 and $1,000,000, and
• 3.35% p.a. interest on the amount over $1,000,000.01.