From Sunday 1 November 2026, the balance brackets on the Macquarie Savings Account will change.
The current balance brackets and variable interest rates are:
| Balance bracket | Variable interest rate |
|---|---|
Up to $250,000 | 5.00% p.a. |
$250,000.01 - $2,000,000 | 5.00% p.a. |
$2,000,000.01 and above | 2.75% p.a. |
Set out below are the new balance brackets, with our current variable interest rates:
| Balance bracket | Variable interest rate |
|---|---|
Up to $25,000 | 5.00% p.a. |
$25,000.01 - $50,000 | 5.00% p.a. |
$50,000.01 - $250,000 | 5.00% p.a. |
$250,000.01 - $2,000,000 | 5.00% p.a. |
$2,000,000.01 - $5,000,000 | 2.75% p.a. |
$5,000,000.01 and above | 2.75% p.a. |
To bring these changes to life, we’ve included an example below:
A customer has a savings account with a daily closing balance of $5,100,000 and the following stepped interest rates apply:
| Balance bracket | Variable interest rate |
|---|---|
Up to $25,000 | 5.00% p.a. |
$25,000.01 - $50,000 | 5.00% p.a. |
$50,000.01 - $250,000 | 5.00% p.a. |
$250,000.01 - $2,000,000 | 5.00% p.a. |
$2,000,000.01 - $5,000,000 | 2.75% p.a. |
$5,000,000.01 and above | 2.75% p.a. |
The customer would receive:
- 5.00% p.a. interest on the first $25,000
- 5.00% p.a. interest on the amount between $25,000.01 and $50,000
- 5.00% p.a. interest on the amount between $50,000.01 and $250,000
- 5.00% p.a. interest on the amount between $250,000.01 and $2,000,000
- 2.75% p.a. interest on the amount between $2,000,000.01 and $5,000,000, and
- 2.75% p.a. interest on the amount over $5,000,000.01 and above.
Macquarie Savings Account interest rates are variable and subject to change in future.
