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Home loan products and features
Find a Macquarie home loan that best suits you. With great rates, low fees and flexible loan options, there’s good reason to choose the home of good borrowers.
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Home loan guides
What is an offset account and how does it work?
Offset accounts could help you save on the interest you pay on your home loan. Discover more about offsets and how they could benefit you.
The pros and cons of fixed versus variable rates
Learn about our different home loan options so you can choose the home loan that best meets your needs.
Home loan terms explained
A guide to the key terms to be aware of when choosing a home loan.
Frequently Asked Questions
We offer two home loan products: the basic home loan facility, and the offset home loan facility. With Macquarie, you can use one or multiple properties as security for your home loan, with a single loan balance limit. We call this a facility structure.
For example, if you have an owner occupied property as well as an investment property, you only need to open one facility, instead of two. This means you’ll avoid paying multiple sets of fees and gives you greater flexibility to tailor your loan set up.
We want to ensure your home loan is set up in a way that works for you and that’s why we’ve designed this step-by-step guide so you can feel confident understanding how Macquarie Home Loans work and what features are right for you.
Having multiple offset accounts can help you to bucket your savings. This can help you manage your budget if you're saving for a few big things (like another property, a holiday, a wedding or a new car).
Having multiple offset accounts linked to your home loan ensures that all of your savings are working towards reducing the interest paid on your home loan.
It is important to note that if your offset account balance exceeds your home loan account balance, you won’t be paid interest on the excess amount. This excess amount also is not offsetting any interest payable on your home loan account.
Yes, typically if you have an Offset Home Loan variable interest rate account, you’ll be able to open and link up to 10 offset accounts.
For company or trust borrowers and home loans with a BSB starting with 183, additional offset accounts can’t be opened after you’ve settled your home loan.
Visit Macquarie Help Centre on how to open additional offset accounts on Macquarie Online Banking, including opening joint offset accounts.
No, offset accounts do not earn interest. The main purpose of an offset account is to offset your variable home loan, which can help reduce the interest you pay on your loan.
A redraw facility is a product feature which generally allows you to access some or all of the additional repayments that you've made on your home loan over and above the minimum required repayments.
Redraw is available on all variable rate accounts. Redraw is also available on fixed loan accounts but can only be accessed at the end of the fixed term
An offset account is a transaction or everyday banking account that is linked to your variable interest rate home loan account. It can potentially help reduce the amount of interest you pay.
The offset account feature is only available on the Offset Home Loan product.
Redraw is a product feature which typically allows you to access some or all of the additional repayments that you’ve made on your home loan over and above the minimum required repayments.
Redraw is a product feature enabled on most home loan products except for:
- 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 the 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.
If you would like to split your existing Macquarie home loan, please visit our Help Centre.
If you would like to apply for a new Macquarie split home loan, submit your application online.
Apply today with expert assistance
- Complete at your own pace and save as you go.
- Stay up to date on your application status.
- We'll ensure you're getting our best rate for your circumstances.
- We won't run a credit check until after you submit your application.
- We're here to help if you have any questions through the application process.
Have questions before you apply online?
Our team of home loan experts are here to help. Request a call by completing the form and we'll typically make contact with you within 1 business day.
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Additional information
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 ABN 46 008 583 542 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 owner-occupier home 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.
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).
Our digital banking platforms are part of why we were awarded Money Magazine’s Bank of the Year 2023/2024.
We will refund fees charged to you by domestic ATM operators on your Macquarie debit card in connection with domestic ATM transactions, but you’ll need to pay any other fee that you’re charged by any international ATM operator.
Terms and conditions apply and are available upon request. Fees and charges apply. Annual Primary Cardholder Fee is waived for the Macquarie Black Card and Macquarie Platinum Card for the period you hold this facility with us.
Purchases made online, by telephone or when selecting ‘Mastercard Debit’, ‘credit’ or ‘CR’ in stores.
The $100,000 limit applies if you use the Macquarie Authenticator App. Otherwise, a default limit of $2,000 applies. Your applicable daily limit applies to all of the daily Pay Anyone (including PayID and PayTo) 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.
This limit operates as a sub-limit of the daily Pay Anyone limit. The $10,000 limit applies if you use the Macquarie Authenticator App. Otherwise, a default limit of $2,000 applies.
This limit operates as a sub-limit of the daily Pay Anyone payment limit. The PayTo limit is the maximum value of a single agreement. The $25,000 limit applies if you use the Macquarie Authenticator app. Otherwise, a default limit of $2,000 applies. This limit will be progressively introduced from 17 December 2024.
Some billers may impose their own limits.
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.
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).
We don’t charge fees for card purchases or transactions made or processed outside Australia but others, such as the banks of international merchants, might.
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 23 May 2025 for new loans only and are subject to change.