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You can expect great rates tailored for you. Choose from a variable rate, fixed rate or a combination of both by splitting your home loan.
Your rate is determined by loan purpose, repayment type and interest rate type.
A variable rate can increase or decrease over the loan period. Your monthly repayments may vary.
The fixed rate remains the same for a set time. Your repayments remain unchanged during the fixed term.
You can split your home loan into fixed and variable portions, to take advantage of both interest rates.
Rates are for new loans and are subject to change.
My loan is
Repayment type
| Basic home loan product ⓘ | Offset home loan product ⓘ | |||
|---|---|---|---|---|
| LVR ⓘ | Interest rate | Comparison rate ⓘ | Interest rate | Comparison rate ⓘ |
| ≤ 60% | 6.14% pa | 6.16% pa | 6.14% pa | 6.39% pa |
| ≤ 70% | 6.14% pa | 6.16% pa | 6.14% pa | 6.39% pa |
| ≤ 80% | 6.19% pa | 6.21% pa | 6.19% pa | 6.44% pa |
| ≤ 90% | 6.39% pa | 6.41% pa | 6.39% pa | 6.64% pa |
| ≤ 95% | 7.19% pa | 7.22% pa | 7.19% pa | 7.43% pa |
My loan is for
Repayment type
| Basic home loan product ⓘ | Offset home loan product ⓘ | |||
|---|---|---|---|---|
| LVR ⓘ | Interest rate | Comparison rate ⓘ | Interest rate | Comparison rate ⓘ |
| 1 year fixed rate° | ||||
| ≤ 70% | 5.75% pa | 6.12% pa | 5.75% pa | 6.35% pa |
| ≤ 80% | 5.85% pa | 6.18% pa | 5.85% pa | 6.40% pa |
| ≤ 95% | 6.09% pa | 7.10% pa | 6.09% pa | 7.31% pa |
| 2 year fixed rate° | ||||
| ≤ 70% | 5.39% pa | 6.02% pa | 5.39% pa | 6.24% pa |
| ≤ 80% | 5.49% pa | 6.08% pa | 5.49% pa | 6.30% pa |
| ≤ 95% | 5.99% pa | 6.97% pa | 5.99% pa | 7.19% pa |
| 3 year fixed rate° | ||||
| ≤ 70% | 5.39% pa | 5.95% pa | 5.39% pa | 6.18% pa |
| ≤ 80% | 5.49% pa | 6.02% pa | 5.49% pa | 6.24% pa |
| ≤ 95% | 5.99% pa | 6.86% pa | 5.99% pa | 7.08% pa |
| 4 year fixed rate° | ||||
| ≤ 70% | 5.39% pa | 5.89% pa | 5.39% pa | 6.12% pa |
| ≤ 80% | 5.49% pa | 5.96% pa | 5.49% pa | 6.19% pa |
| ≤ 95% | 5.99% pa | 6.77% pa | 5.99% pa | 6.99% pa |
| 5 year fixed rate° | ||||
| ≤ 70% | 5.39% pa | 5.84% pa | 5.39% pa | 6.07% pa |
| ≤ 80% | 5.49% pa | 5.91% pa | 5.49% pa | 6.14% pa |
| ≤ 95% | 5.99% pa | 6.68% pa | 5.99% pa | 6.90% pa |
| Note: Offset benefits are not available while the linked Loan Account is on a fixed rate of interest. | ||||
See the answers that will hopefully guide you to making a home loan choice that will serve you well over the term of your loan.
Learn about our different home loan options so you can choose the home loan that best meets your needs.
A guide to the key terms to be aware of when choosing a home loan.
To find out about Macquarie Bank’s current home loan interest rate, please click here.
The difference between a fixed-rate home loan and a variable rate home loan is in the interest rate structure. With a fixed-rate home loan, the interest rate remains constant for a set period, typically one to five years.
At the end of the five years, the loan will usually switch to a variable rate. In contrast, a variable rate home loan has an interest rate that can change, usually in response to market conditions. This means that your repayments can fluctuate over time, potentially increasing or decreasing based on changes in interest rates.
Macquarie offers flexible options, with the ability to split your loan between variable and fixed interest rates to suit your circumstances.
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.
If you have a Home Loan account with a BSB starting with 182
You can make additional repayments to your variable interest rate home loan without having to pay any additional fees. You can make an additional payment by electronic funds transfer into your home loan account using your account number and the BSB 182-182.
Alternatively, you can set up a recurring additional direct debit payment from a Macquarie account into your home loan on Macquarie Online Banking:
To set up a recurring additional direct debit payment into your home loan from an institution other than Macquarie, this will need to be done on the other institution’s online banking platform.
Please note that your minimum contractual repayment amount will continue to be calculated on the loan limit and not on your actual loan balance.
If you have a Home Loan account with a BSB starting with 183
You can make additional repayments to your variable interest rate home loan without having to pay any additional fees. You can make an additional payment by electronic funds transfer into your home loan account using your account number and the Deposit BSB on your home loan statement. If your account is one of the following, you will not be able to make a manual electronic funds transfer into the account as it will automatically reject:
If your additional payment is more than the outstanding balance of your loan account, the payment will reject. If you made the transfer via EFT, the funds will be automatically returned to your account you transferred it from. If you made the transfer via BPAY®, please contact us on 1800 007 722 (+61 2 8550 5666) to provide us with the BSB, Account Name and Account Number that we need to return the funds to.
Alternatively, you can set up a recurring additional direct debit payment by calling us on 1800 007 722 (+61 2 8550 5666), 8am to 7pm (Sydney time) Monday to Friday. Note, the additional payment must be on the same payment frequency as your existing contractual payment. For example, if you currently make a monthly repayment, your additional payment must be monthly also, and could not be fortnightly.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
We offer 1 - 5 year fixed rates on all our home loans. To view our current fixed rates click here.
If you’re a new customer and want to apply for a fixed rate home loan, contact your home loan broker, or call us on 13 62 27, 9am - 5pm (Sydney time) Monday to Friday.
If you’re an existing customer and would like to fix your home loan rate, please contact us via live chat on Macquarie Online Banking or Mobile Banking app, on 1800 007 722 (+61 2 8550 5666) and select option 2, 9am - 5pm (Sydney time) Monday to Friday. Visit Macquarie Help Centre to find out more about switching your home loan account to a fixed rate.
Important notes about fixed rate accounts:
Don’t want to wait on the phone?
Our Customer Solutions phone line now has an automated call back service available to you. If our wait times are longer than 5 minutes, you’ll be offered an automated call back to accept at the start of the call.
After the fixed term on your home loan expires, there are typically three things you could do:
Redraw is a product feature that which typically allows you to make access some or all of the additional repayments that you’ve made on your home loan over and above the minimum required repayments. 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.
Your redraw balance may change over time depending on several factors, including:
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 availablethe available redraw will start reducing to ensure her home loan limit is $0 at the end of her loan term.
For more information on how to check your redraw balance or accessing it on Macquarie Online Banking, visit Macquarie Help Centre.
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:
Alternatively, you can:
To check your available redraw balance on the Macquarie Mobile Banking app:
Accessing your redraw balance
To access your available redraw balance on Macquarie Online Banking:
To access your available redraw balance on the Macquarie Mobile Banking app:
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 8550 5666) from 8am to 7pm (Sydney time) Monday to Friday.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
Ready to chat now? Call us on 13 62 27 Monday to Friday 9am - 5pm (Sydney time).
If you’d like to schedule a call with a home loan expert, let us know your contact details and we’ll call you back.
Support for customers
For more information, view the full Macquarie home loans terms and conditions and the Macquarie electronic banking terms and conditions.
This information is provided by Macquarie Bank Limited AFSL and 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.
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.
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.
2 year fixed rate° and comparison rate‡ for basic owner-occupied home loans with principal and interest repayments. Rate applies for new loans when you borrow up to 70% of the property value with a principal and interest repayment fixed rate loan. Subject to change without notice.
Fixed rate loans may be subject to significant break costs. Please refer to the loan contracts for terms and conditions regarding break costs. At the end of the fixed rate period, the interest rate will revert to the discount variable rate applicable at that time.
The information in this calculator is by way of example only and is not a prediction or professional financial advice. Calculations are not forecasts, but may assist you in making your own projections. Subject to law, Macquarie will not be liable for any loss or damage caused by your use of the calculator. The information in the calculator does not constitute an offer to lend or imply the product is suitable for you.
Open and link up to 10 offset accounts per variable rate loan account for single or joint borrowers (up to 4 offset accounts per variable rate loan account can be requested at application stage). Company and trust borrowers can open up to 4 offset accounts which must be opened at application. Offset Home Loan Facility cannot be fully fixed and offset accounts cannot be linked to fixed rate loan accounts. For an Offset Home Loan Facility, the variable rate loan account must have a minimum limit of $20,000.
The Offset Home Loan Facility fee is payable in exchange for the ability to open and link offset accounts. The fee is payable in two equal instalments every 6 months per facility. The first fee is payable 6 months after your settlement date, then the Offset Home Loan Facility fee is payable every 6 months thereafter (unless you switch your loan to a Basic Home Loan).
Additional repayments of up to $10,000 can be made on a fixed rate account each year without penalty (additional payments above this amount may incur break costs). The 12-month period is calculated from the date the fixed term commenced. When your account has reverted to a variable rate at the end of a fixed term (1) you can make further additional repayments without incurring break costs and (2) any additional repayments made during the fixed term become available for redraw (subject to our terms and conditions).
Due to state and territory laws, restrictions may apply to digitally signing the Mortgage Form.
Home loan information and interest rates are current as at 3 October 2024 for new loans only and are subject to change.
