RBA Interest Rate Decision

Following the RBA's cash rate decision, Macquarie is increasing variable home loan and car loan reference rates by 0.25% p.a., this will be effective 17 November 2023.

Macquarie is also continuing to support Australian savers across a range of deposit products. Since January 2022, Macquarie has increased the interest rates on its everyday deposit products by up to 4.55%.

• Macquarie's savings account welcome rate is increasing to 5.50% p.a. for new customers, for the first four months on balances up to $250,000 – effective 10 November 2023.
• The ongoing interest rate customers earn on both their savings and everyday transaction accounts will increase by 0.25% p.a. to 4.75% p.a., on balances up to $1 million - effective 17 November 2023.
• Macquarie's savings and transaction accounts have no minimum balance or deposit requirements and no transaction conditions. There is also no need to lock money away for a set period to receive the interest rate, providing customers confidence that they are earning higher interest regardless of their level of savings or account activity.
• In a matter of minutes, a new customer can open an account within Macquarie’s mobile banking app or online, deposit funds and start earning interest using their account immediately.
• Macquarie’s Business Savings Account interest rate will increase by 0.25% p.a. to 4.75% p.a., on balances up to $1 million - effective 17 November 2023.
• Macquarie’s CMA Accelerator interest rate will increase by 0.25% p.a. to 4.75% p.a., on balances up to $2,000,000 - effective 17 November 2023.
• Macquarie’s 12 month term deposit interest rate is 5.05% p.a., available now.

Tools to help you save

Macquarie customers can easily manage their money with our suite of digital banking tools, designed to help you stay on top of finances.

Macquarie Marketplace

• Discover a smarter way to shop with Macquarie Marketplace. Whether it’s everyday purchases like your weekly grocery shop, or something bigger like overseas flights, an iPad or a new couch, we want to help you save when you spend.
• Get discounts of up to 10% for use at over 50 leading retailers across Australia.
• Instantly purchase discount cards from your mobile or online and access them immediately through your transaction account.
• In October 2023, Macquarie Marketplace customers saved an average of $24 each (over $280 per year). Based on a balance of $5,000, that’s an additional 5% per year, in addition to the market leading rate of 4.75% p.a. on Macquarie transaction account balances.
• You can calculate potential savings, with our Marketplace calculator.

Smart savers are using offset accounts

• If you have a home loan, keeping your savings and everyday funds in an offset account can help you save the amount of interest you pay over time, without having to make additional repayments.
• You can calculate how much you could save with an offset, using our Offset Calculator.

Budgeting and saving

• Get to know your spending. Each time you make a transaction, it’s automatically categorised into groups such as groceries, travel, leisure or technology.
• Create smart budgets for anything in an instant, then see how you're tracking at a glance and over time.
• Store your receipts and warranties by simply taking a photo of your receipt and uploading it to your transaction history via the app. When you upload the photo, tag your tax-claimable purchases with #tax. You can then run a report at the end of financial year to see your claimable transactions.
• Search transactions using everyday language by typing questions such as: "How much did I spend on groceries this year?”

Track spending

• Get the added security of real time notifications, opt in on your device.
• Set up customised notifications to receive alerts about your account activity, so you can easily track how much you spend.
• Whenever you make a transaction on your Macquarie credit or debit card, you’ll receive a push notification, so you know the correct transaction has been processed either instore or online.
• For foreign currency transactions, the alert shows the spend amount in local currency and Australian dollars. There are also no foreign exchange fees on Macquarie debit and credit cards.

We’re here to help

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 on our financial assistance page.