Following the RBA’s decision on 20 May 2025 to reduce the official cash rate by 0.25%, variable home loan reference rates will change on 23 May 2025. The changes to your new interest rate and when this will be visible online will differ depending on your loan’s BSB number.
When your variable interest rate will change
When your interest rate will change in Online Banking or in the Mobile Banking app
If you have a Home Loan account with a BSB starting with 182:
- You can check your new rate in Online Banking or the Mobile Banking app from 23 May 2025.
If you have a Home Loan account with a BSB starting with 183:
- You can check for your new rate in Online Banking or the Mobile Banking app after 23 May 2025.
Please see Understanding your home loan interest for more information on how to view your interest rate through Macquarie Online Banking and the Macquarie Mobile Banking app.
When your repayments will change
You can use the BSB number of your loan account and the repayment type to determine which changes will apply to your loan – we’ve outlined more information below.
If you have a variable Home Loan account with a BSB starting with 182:
- For Principal and Interest repayments your first monthly repayment that falls within 30 days after 23 May 2025 will remain the same, and your repayments will change the following month. We will email or send you a letter with your new repayment amount in advance of the change.
- For Interest Only repayments your first repayment after 23 May 2025 will change.
If you have a variable Home Loan account with a BSB starting with 183:
- For Principal and Interest repayments your first monthly repayment that falls within 30 days after 23 May 2025 will remain the same, and your repayments will change the following month. We will email or send you a letter with your new repayment amount in advance of the change.
- For Interest Only repayments your first repayment after 23 May 2025 will change.
There will be no change to Fixed Loan repayments or interest rates during the fixed term.
What happens when my variable interest rate changes?
Your new rate will be displayed via Macquarie Online Banking and the Macquarie Mobile Banking app on or after the effective date of the change.
Your repayments will also be recalculated. For repayments that are direct debited, you’re not required to do anything. We’ll automatically adjust your direct debit amount to your new repayment amount. Please see Making extra repayments on your home loan for more information if you would like to pay above your minimum contractual repayment.
What happens to additional repayments when my rate changes?
For home loans with a BSB starting 182, if you’re making additional repayments by direct debit, we’ll continue to collect this amount in addition to your minimum contractual repayment amount.
For home loans with a BSB starting 183, if you’re making more than the minimum required repayment, your direct debit repayments will not change.
What is a reference rate?
A reference rate is the rate used to set the variable home loan interest rate you pay. The reference rate for your home loan less any relevant discount, determines the variable interest rate which applies to your loan. All Macquarie variable home loans are linked to one of the reference rates linked below.
Where do I find my reference rate and discount?
The name of the reference rate applicable to your loan is specified in your Loan Offer. You can find your current reference rate and applicable discount, which both may change over time, in Macquarie Online Banking and the Macquarie Mobile Banking app. The variable home loan interest rate you pay also appears there.
How do I find out about changes to my reference rate?
When our reference rates are changing, we will publish the updated rates on this page. To view the variable reference rates effective from 23 May 2025, please see here.
Related articles
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Breaking your fixed rate home loan -
Reducing your home loan interest -
Understanding home loan fees
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