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Make your savings work harder by offsetting your interest repayments and pay off your loan sooner.
With a Macquarie Offset Home Loan, you can open up to 10 offset3 accounts, which allows you to divide your savings how you like.
You can access your savings from your offset account whenever you like, without any fees.
An offset account is a transaction or everyday banking account that is linked to your home loan. Every dollar you have in that account 'offsets' the balance of your loan – reducing the amount of interest you pay every month. Because these savings add up over time, you can also use this 'extra' money to pay your loan off faster.
For example, if you have $100,000 in your offset account and the balance of the linked variable loan account is $400,000, you’ll only be charged interest on $300,000.
With a Macquarie home loan, you can have up to 10 offset accounts linked to your variable home loan account. Splitting your savings into multiple offset accounts allows you to categorise and budget while it continues to reduce your interest repayments.
You can also label your offset account, so you know exactly what your savings are for.
For example, if you're saving up for a holiday, you can open an offset account with the nickname 'Holiday'.
Speak to a dedicated specialist
Our calculator could not provide an estimate. With flexible options, our dedicated home loan specialists could help you find a solution.
This information is for new loans only.
| Investment rates from | Rate |
|---|---|
| Variable rate1, Principal and Interest | 6.34% pa |
| Comparison rate2, Principal and Interest | 6.59% pa |
| View all of our rates |
| Rate type | Availability |
| Variable rates | Available |
| Fixed rates8 | 1, 2, 3, 4, and 5 year fixed available |
| View all of our rates |
| Fee type | Fee amount |
|---|---|
| Application fee | $0 |
| Monthly fee | $0 |
| Annual package fee | $248 |
Other fees and charges may apply, including a fee to document and settle your loan.
| 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 | $25,000 |
| Multiple loan accounts | 6 on settlement, and unlimited after settlement |
| Repayment options | |
|---|---|
| Repayment type | Principal and interest or interest only |
| Interest only duration | Up to 5 years9 |
| 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. |
| Type | Availability |
|---|---|
| Online banking | Available |
| Mobile banking app | iOS / Android |
| BPAY® out | Available |
| Statements | Every 6 months |
| ATM access | Offset account |
| Online shopping | Offset account |
| International access | Offset account |
| Contactless purchase | Offset account |
| Transaction type | Limit |
|---|---|
| Daily limit for domestic ATM or other cash withdrawals | $2,000 daily |
Daily Debit Mastercard transaction limit Purchases made online, by telephone or when selecting ‘Mastercard Debit’, ‘credit’ or ‘CR’ in stores. | Up to the available balance of your account |
| Mastercard contactless limit with no PIN | $100 per transaction |
Daily Pay Anyone Payment limit
| $100,000 daily** |
NPP Payment sub-limit ^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 and are registered for Electronic Banking. Otherwise, a default limit of $5,000 applies. | $10,000 daily^ |
Daily BPAY limit Some billers may impose their own limits. | Up to the available balance of your account |
| Terms and conditions | Link |
| Macquarie home loans terms and conditions | Download PDF |
| Macquarie electronic banking terms and conditions | View conditions |
Competitive rates and low fees
With our best rate upfront and low fees, you could pay off your home loan faster.
Market leading turnaround times
Get a quick response on the status of your loan with our straightforward application, so you have more time to do the things you love.
Intuitive digital experiences
Confidently and securely manage your money with our digital banking platforms, tools, and online calculators.
Flexible loan options
Personalise your home loan to your needs with options to split between variable and fixed interest rates, up to 10 offset accounts and fee free redraw when using online banking.
Submit your application in a few simple steps. Apply if you are 18 years or older and a permanent resident of Australia.
No, it’s not possible to have an offset account with a fixed rate home loan
If you would like a 100% fixed home loan, you’ll need to apply for the basic home loan
If there is a fixed and variable split loan under the offset package, then an offset account/s can only be linked to the variable loan split. Additional offset accounts can be opened for the fixed account once the fixed period is expired, and that loan account has reverted to a variable rate. Please note, company and trust borrowers can’t open additional offset accounts after the loan settles.
An offset account is a transaction or everyday banking account that is linked to your home loan. Every dollar you have in that account 'offsets' the balance of your loan – reducing the amount of interest you pay every month. Because these savings add up over time, you can also use this 'extra' money to pay your loan off faster.
For example, if you have $100,000 in your offset account and the balance of the linked variable loan account is $400,000, you’ll only be charged interest on $300,000.
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 home loan. Every dollar you have in that account 'offsets' the balance of your loan – reducing the amount of interest you pay every month.
The offset account feature is not available on a basic home loan and is only available on the offset home loan product.
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.
Support for customers
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.
Open up to 10 offset accounts per variable loan account if you have an individual or joint borrower home loan. Company and trust borrowers can open up to 4 offset accounts which must be opened at application. 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.
For new home loans, credit card annual fees apply when you discharge your home loan; $99 ongoing for Macquarie Platinum Card (Macquarie Rewards) and $149 ongoing for Macquarie Black Card (Macquarie Rewards). For existing home loans, please refer to your financial table for credit card annual fees if you discharge your loan with us. Other fees and charges may apply.
We will refund fees charged to you by domestic ATM operators in connection with domestic ATM transactions, but you’ll need to pay any other fee that you’re charged by any international ATM operator. 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.
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.
Variable rate applies for new loans when you borrow up to 60% of the property value with a principal and interest repayment variable rate loan. Fixed Rate applies to new loans with a 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.
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.
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.
We don’t charge any fees in connection with our transaction and savings account products but others, such as other financial institutions, may.
Home loan information and interest rates are current as at 17 November 2023 for new loans only and are subject to change.
