Macquarie considers a range of factors when setting interest rates, including the official cash rate. Following the RBA’s cash rate decision, Macquarie is increasing variable home loan reference rates by 0.50% p.a. This will be effective 12 August, 2022.

Macquarie will also decrease its fixed home loan interest rates by up to 0.75% p.a., for new customers and existing variable rate customers who are seeking to fix their interest rate. This will be effective by 5 August, 2022.

Macquarie’s transaction account interest rate will increase by 0.50% to 2.25% p.a. on balances up to $250,000. This follows Macquarie’s decision in June to increase the interest rate customers earn on their transaction account to be the same as its ongoing high interest savings account. Macquarie’s ongoing savings account interest rate will also increase by 0.50% to 2.25% p.a. on balances up to $250,000. Both new ongoing interest rates will be effective 12 August, 2022.

New Macquarie customers will also receive a welcome rate of 3.10% on their first savings account for the first four months on balances up to $250,000 effective 3 August, 2022.

Macquarie’s transaction and savings accounts have no minimum balance or deposit requirements, no transaction conditions, and no need to lock money away for a set period to receive the interest rate.

Macquarie also offers a range of competitive term deposit interest rates including; a 3 month term deposit interest rate of 2.35%, a 6 month term deposit interest rate of 2.70%, a 9 month term deposit interest rate of 3.00% and a 12 month term deposit interest rate of 3.30% - all on balances up to $1 million and effective on 4 August, 2022. So far this year, Macquarie has increased some of its term deposit rates by up to 3.00%.

If your personal or financial circumstances have changed and you’re concerned about making your loan repayments, we may be able to offer financial assistance. More information, including how to contact our specialist team, is available here.
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