Features and benefits

Our low fee home loan

  • No application fee.
  • No monthly fee.
  • No account management fee.
  • Fee free redraw from your loan using online banking.

Flexible ways to repay 

  • Create up to six loan accounts with different rate and repayment types.
  • Digitally manage every aspect of your money, from tracking your spending to creating monthly budgets.

Access shopping discounts

  • Get discounts of up to 10% on eGift cards to use at over 60 leading stores across Australia with Macquarie Marketplace if you open a Macquarie transaction or offset account.

3 ways to save on your home loan

Young boy sits on a tyre wing as his aunt pushes him

Get set to save with one of the lowest~ variable home loan rates in the market, offset accounts, and Marketplace rewards.

I bank with Macquarie

Interest rates

Owner occupier rates from

Rate Qualifier
2.39% pa Variable rate*, Principal and Interest
2.39% pa Comparison rate, Principal and Interest
 

 

 

Investment rates from

Rate Qualifier
2.54% pa Variable rate*, Principal and Interest
2.54% pa Comparison rate, Principal and Interest

 

 

Our available rate types

Rate type Availability
Variable rates Available
Fixed rates 1, 2, 3, 4, and 5 year fixed available1
View all of our rates

 

Ongoing account fees

Fee type Fee amount
Application fee $0
Monthly fee $0
Annual fee
$0

 

Other fees and charges may apply.

Loan limits

Loan details Limit
Maximum loan term Up to 30 years
Minimum new loan amount $150,000
Maximum new loan amount $10,000,000
Minimum increase amount $10,000
Multiple loan accounts Up to 6

Repayment and redraw options

Repayment options  
Repayment type
Principal and interest or interest only
Interest only duration
Up to 5 years2
Repayment frequency
Monthly
Additional payments   Unlimited if your account is on a variable interest rate, however if your account is on a fixed interest rate you can make additional repayments of up to $10,000 per year.
Repayment method
Direct debit or EFT/Salary credit


 

Redraw options  
Redraw  Unlimited if your account is on a variable interest rate, however if your account is on a fixed interest rate you can redraw at the end of your fixed period.

Access and payment methods

Access and payment types Availability
Online banking
Available
Mobile banking app
iOS / Android
BPAY® out
Available
Statements
Every 6 months

 

Transaction limits

Transaction type Limit

Daily Pay Anyone Payment limit


**The $100,000 limit applies if you use the Macquarie Authenticator App and are registered for Electronic Banking. Otherwise, a default limit of $5,000 applies. Your applicable daily limit applies to all of the daily Pay Anyone payments you make across all your eligible accounts linked to your Macquarie ID. If you hold a joint account, click here for information about how this limit applies to you.

$100,000 daily**

Daily BPAY limit

Some billers may impose their own limits.

Up to the available balance of your account

Terms, conditions and documents

Terms and conditions Link
Macquarie home loans terms and conditions Download PDF
Macquarie electronic banking terms and conditions View conditions

Why Macquarie?

Fast turnaround times

With a straightforward application process and fast turnaround times, you'll get a timely response on the status of your loan.

Flexible loan options

Tailor your loan with options such as splitting between variable and fixed interest rates, adding an offset account, or our low fee basic home loan.

Exceptional service

We'll keep you informed and up to date throughout the process. And if you need any help along the way, our home loan specialists are available to answer any questions.

Great rates and low fees

Macquarie home loans are built on great value. Our competitive rates and low fees help you pay off your home loan faster.

How to apply

You can request a call online or give us a call on 13 62 27 to speak with a home loan specialist.

Apply if you

  • are 18 years old or over,
  • are a permanent resident of Australia.

What's next?

As your application progresses, you'll be kept up to date with email notifications and calls from your dedicated home loan specialist.

Frequently asked questions

LVR is the amount you need to borrow, calculated as a percentage of the value of your property. For example, if your loan amount is $400K and your property value is $500K, then your LVR is 80%.

Fixed rate home loans have an interest rate that is fixed for a set period of time (typically from one to five years). At the end of the fixed rate term, the loan will usually switch to a variable rate.

Variable rate home loans have an interest rate that can move up or down according to market forces, which impacts the amount of interest you pay.

Macquarie home loans are flexible and allow you to access both a fixed rate and variable rate for your loan. As a borrower, this means you can:

  • have the entirety your home loan at a variable rate
  • have the entirety of your home loan at a fixed rate
  • split your home loan into fixed and variable portions.


Splitting your loan between variable and fixed interest rates gives you flexibility to structure your loan to suit your circumstances. You can divide your home loan in a variety of ways, such as locking in a fixed interest rate portion and variable interest rate portion, to take advantage of a mix of rate types over the life of your loan.

Please note: You can’t have the entirety of your offset home loan assigned to a fixed rate. You must have at least $20k of your offset home loan assigned to a variable interest rate.

Once you’ve completed an application with your broker or home loan specialist, we can (in most cases) provide you with a pre-approval within one business day if your application qualifies. Once you are successful with a property and provide us with all required documentation, we work quickly to provide you with unconditional approval and open your home loan account.

This timing depends on how quickly we can verify your identity, assess your application, and transfer security.

We’ll let you know by email if your application is successful and when your account is open and ready to use.

If you have any questions about the status of your application, talk to your broker or your home loan specialist.
Redraw is a product feature that allows you to make extra payments to reduce the outstanding balance of your home loan, which in turn reduces the amount of interest you pay. A redraw facility may allow you to access the extra payments you’ve made up to your loan limit at that time.

Redraw is a product feature enabled on most home loan products except for:
  • construction loans with a BSB starting with 183
  • accounts during a fixed rate period. Any extra payments you’ve made whilst your interest rate is fixed is only available at the end of your fixed rate period
  • SMSF home loans.


Your redraw balance may change over time depending on several factors, including:

  • loan limit changes
  • repayment amount changes
  • missed or late repayments and fees.

The below is an example explaining how redraw works where an extra payment has been made and the repayment amount has not changed on the home loan.

Sarah has a $300,000 home loan with a 30-year term. 10 years into her loan she makes an extra payment of $50,000. Her repayment amount does not change and the extra payment she’s made means she is paying less interest on her home loan. This results in Sarah paying off her home loan sooner. Because Sarah has maintained her repayments at the same amount, she can access her redraw balance up until her loan is paid off. If she continues to keep her loan open after it’s paid off, then available redraw will start reducing to ensure her home loan limit is $0 at the end of her loan term.


Checking your redraw balance

You can view or access your redraw fee free by using Macquarie Online Banking or the Macquarie Mobile Banking app.

To check your available redraw balance on Macquarie Online Banking:
  1. Hover over the home loan account in the account list
  2. Select I want to
  3. Select View account details
  4. Available funds for redraw is shown as Redraw balance under Account Summary.

Alternatively, you can:
  1. Select your home loan account from the account list
  2. Select I want to in the banner near your account product name (or account nickname)
  3. Select View account details in the menu drop-down
  4. Available funds for redraw is shown as Redraw balance under Account Summary.

To check your available redraw balance on the Macquarie Mobile Banking app:
  1. Select a home loan account from the main screen
  2. Available funds figure is displayed at the top of the screen above account balance.

Accessing your redraw balance

To access your available redraw balance on Macquarie Online Banking:
  1. Select the icon from the side menu; or first click on the icon in top left-hand corner to display the side menu
  2. Select the home loan account with available redraw balance
  3. Select the Macquarie account you wish to pay to, or New payee/biller.

To access your available redraw balance on the Macquarie Mobile Banking app:
  1. Select the icon on the front screen
  2. Select either Internal transfer or Make a payment
  3. Select the home loan account with available redraw balance
  4. Select the Macquarie account you wish to pay to, or New payee/biller.

The daily limit for Pay Anyone and BPAY payments from your home loan can be viewed here.

To access redraw on your Reverse Mortgage or Accommodation Bond loan, please call us on 1800 007 722 (+61 8245 4383) from 8am to 7pm (Sydney time) Monday to Friday.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

New clients

Our team of dedicated home loan specialists are ready to talk through your home loan needs.

Existing clients

Monday to Friday 8am – 6pm (Sydney time)

1800 007 722

Help and support

Visit our online Help Centre.

"We're good borrowers, so our home loan is with Macquarie."
George and Celeste
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Additional information

The comparison rates are based on a loan for $150,000 and a term of 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

*

Rate applies for new loans when you borrow up to 60% of the property value with a principal and interest repayment variable rate loan. Subject to change without notice.

Offset accounts cannot be linked to fixed rate loan accounts. For split loans, with a fixed and variable rate portion, the variable rate loan account must have a minimum limit of $20,000 to qualify for an offset account.

~

As benchmarked across major lenders.

1

Fixed rate loans may be subject to significant break costs. Please refer to your loan contract and terms for details of break costs applicable. At the end of the fixed rate period, the loan rate will revert to the variable interest rate detailed in your loan contract, as applicable at that time. Offset accounts cannot be linked to loan accounts with a fixed interest rate and you must have a variable rate loan account with a minimum balance of $20,000 to qualify for a fixed rate.

2

If you’ve chosen to make interest only repayments at any stage of your loan, you may end up paying more interest over the life of the loan. This is because you are deferring your principal repayments. At the end of your interest only period, your minimum contractual repayments will increase to include principal repayments as well as interest.

This information is provided by Macquarie Bank Australian Credit Licence 237502 and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Lending criteria, fees and T&Cs apply.

Apple, the Apple logo & iPhone are trademarks of Apple Inc, registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Android, Google Pay, Google Chrome and the Google Logo are trademarks of Google LLC.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

Home loan information and interest rates are current as at 13 May 2022 for new loans only and are subject to change.