Understanding your term deposit options

What are my term deposit options?

We are updating our term deposit offering to bring you a more streamlined banking experience. As part of these changes, we are introducing the new Macquarie Digital Term Deposit for individual and joint account holders.

With the launch of this new product, the Macquarie Term Deposit will no longer be available for new individual and joint applications.

Please note: If you hold a Company, Trust, Advised, SMSF, Business Banking (BB), and/or Wrap Term Deposit, you will not be affected by this change. You can continue to hold or open a Macquarie Term Deposit.

When will Macquarie Digital Term Deposits be available?

Applications submitted before 8 July 2026: If you applied for a term deposit before this date, your account will remain a Macquarie Term Deposit.
From 8th July 2026: The new Macquarie Digital Term Deposit becomes available to open via Macquarie Online Banking and the Macquarie Mobile Banking app. From this date, any new individual or joint term deposit opened will be a Macquarie Digital Term Deposit.

How will the term deposit offering changes affect me?

Depending on your current account structure, the way you open or manage your term deposit may change. Find your scenario below:

I do not have a term deposit with Macquarie yet
- Any new individual or joint term deposit you open on or after 8 July 2026 will be a Macquarie Digital Term Deposit.
I already have an individual or joint term deposit
- Existing accounts: Your current account does not change. It will continue to run normally under its existing terms and conditions.
- Opening an additional account: Any additional individual or joint term deposit you open on or after 8 July 2026 will be opened as a Macquarie Digital Term Deposit. You can hold both types of accounts at the same time.
- Maturity and rollovers: When your existing old term deposit matures, if you choose to roll it over, it will continue to be a Macquarie Term Deposit. When checking your rollover interest rates on our website, make sure you look at the Macquarie Term Deposit rates, not the Digital Term Deposit rates.
I have an adviser linked to my account
- Advised term deposits are not affected by this change. Any new advised term deposit you open will be opened as a Macquarie Term Deposit.
I hold a term deposit under a company, trust or SMSF
- These accounts are not affected by this change. Any new term deposits you open for your trust, company, SMSF or business will continue to be opened as a Macquarie Term Deposit.

What is the difference between a Macquarie Digital Term Deposit and a Macquarie Term Deposit?

Macquarie provides two types of term deposits. The product type you hold is determined by the entity opening the account.

Feature	Macquarie Digital Term Deposit	Macquarie Term Deposit
Eligibility	Available for individual and joint accounts (without an adviser)	Available for: Unregulated trusts Self-managed super fund (SMSF) Company or business Incorporated association or body Advised clients
Minimum deposit	$25,000	$5,000
Linked/nominated account	Requires a mandatory Macquarie Transaction or Savings Account (linked account) that must remain open for the life of the Digital Term Deposit. Your funds will be automatically transferred to this account at maturity.	Requires a nominated account, (which can be an external bank account). Your funds will be transferred to this account at maturity.
Maturity options (the last day of your investment term)	The account automatically closes at maturity and your funds are instantly transferred to your linked Macquarie account. Note: Rollovers are not available for this product.	You can choose to either roll over the term deposit for another term or withdraw your funds.
Interest payments	Paid as a single payment at maturity.	On application you can choose for interest to be paid monthly, quarterly, bi-annually, annually or at maturity.
Available terms	3, 6, 9 or 12 months.	1, 2, 3, 4, 6, 9 or 12 months. You can also choose 2, 3, 4 or 5 years.
Early withdrawals (closing your term deposit before maturity)	If you wish to withdraw your funds from your Macquarie Digital Term Deposit prior to maturity we require 31-days notice, during which the interest rate on the account adjusts to 0%. If you’re experiencing hardship, the notice period and interest adjustment may be waived.	If you wish to withdraw your funds from your Macquarie Term Deposit, we require 31-days notice and a break fee of 25% is applied to your accrued interest. If you’re experiencing hardship, the notice period and break fee may be waived.

How do I know which type of term deposit I have?

You can check your account type by logging into your Macquarie Mobile Banking app or Macquarie Online Banking:

Select your term deposit from your account list.
Select I want to → View account and term details.
Under Product, your account type is specifically stated, as either a Macquarie Digital Term Deposit or a Term Deposit (for Macquarie Term Deposit).

Please note: If you have given your account a custom nickname, that nickname will replace this product name. If you cannot see your product type, please contact us for help.

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