Fixed rate home loans

The big benefit of a fixed rate home loan is the certainty of knowing what your interest rate and repayments will be for a set time. Always knowing what your repayments will be, can make it easier to manage your finances and plan for the future.

We offer 1-5 year fixed rates on all our home loans. See our current fixed rates.

Things you should know about fixed rate home loans:

Fix all or part

  • You can choose to fix all or part of your home loan account.

If you have a Basic Home Loan, you can fix up to 100% of your loan:

  • You can fix a portion of your Offset Home Loan and retain one variable rate account (minimum balance of $20,000) to continue to access offset benefits.
  • If you’d like to fix 100% of your Offset Home Loan, you’ll need to switch to the Basic Home Loan.

Break costs

  • Break costs may be payable if you end your fixed term early or make extra repayments above certain thresholds. If your BSB starts with 182 you can make extra repayments of up to $10,000 each year into each fixed account without incurring break costs.
  • If your BSB starts with 183 you can make extra repayments up to 5% of the initial fixed amount each year without incurring break costs.

Considerations for a fixed rate

  • You’re unable to fix a home loan with the construction feature.
  • You’re unable to link an offset account to a fixed rate home loan.
  • There’s no redraw on fixed rate home loans. Any extra repayments you make when your interest rate is fixed may be available for redraw when your fixed rate period ends.

How to switch your rate

If you’d like to switch your existing home loan to a fixed rate or link an offset, you’ll need to contact us on 1800 007 722 (+61 2 8245 4383).

If I switch to a fixed rate, what happens to my repayments?

When you switch to a fixed rate on your home loan, you’ll receive a confirmation summary which includes details about the fixed rate changes, your new repayment details and when your new repayment amount becomes effective.

After you request to switch to a fixed rate on your home loan, your next repayment will stay the same and then any subsequent payments will change.

For example, if your fixed rate was applied today and your next monthly repayment is due in a week, this repayment will stay the same (i.e. it will still be your variable rate amount). The following month, your repayment will reflect the fixed rate change.

View your home loan structure

You can find an overview of your account structure under the Account Breakdown feature on Macquarie Online Banking and Macquarie Mobile Banking.  See how to View your home loan structure.

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