Input search
Offset home loan
Pay off your loan sooner by using your savings to reduce the amount of interest you pay.
Offset Account options
- Open up to 10 offset accounts per loan account.
- Open unlimited loan accounts after settlement with differing repayment types.
- Plus get a linked Debit Mastercard® for everyday transacting.
Fee free access at ATMs
- We won’t charge you ATM fees anywhere in the world3.
- All ATM fees within Australia are instantly refunded.
$0 international purchase fees
When you shop online or in-store overseas with your Macquarie Debit Mastercard®.
Earn Qantas Points
Opt in to receive Qantas Points1 (different rates may apply).
- Add a credit card
- Budgeting and saving
- Added security
Add a credit card
Package a credit card with your home loan
Package a credit card with your home loan
- One way to make the most of your offset home loan is to use your accompanying credit card for your day-to-day purchases6.
- When you keep savings in your offset account and pay off your credit card balance in full before your interest free period ends, you could minimise both your home loan interest repayments and interest on purchases6.
- When you shop online or in-store overseas with your credit card, we won't charge any international purchase fees3.
Budgeting and saving
Tools for budgeting and saving
Tools for budgeting and saving
- With our digital tools you can get an overall view of your cash flow so you can feel confident in knowing exactly where you’re putting your money.
- Use our smart budgeting tools to help you stay on top of your finances – you can get a snapshot of your spending habits, set monthly budgets and categorise payments to help you have full visibility of your financial position all in the one place .
Added security
Protect your account and personal information
Protect your account and personal information
- The Macquarie Authenticator app provides an extra layer of security that helps protect your account and personal information and is our most secure way to authenticate.
- It's a mobile app that sends actionable push notifications for you to approve or deny online transactions and account activity. There’s also an option to generate a unique one-time rolling code as an alternative authentication method.
Rates and fees
This infomation is for new loans only.
Interest rates
Rate types
| Rate type | Availability |
|---|---|
| Variable rates | Available |
| Fixed rates8 | 1, 2, 3, 4, and 5 year fixed available |
Ongoing account fees
| Fee type | Fee amount |
|---|---|
| Application fee | $0 |
| Monthly fee | $0 |
| Annual package fee | $248 |
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 | $5,000,000 |
| Minimum increase amount | $10,000 |
| Multiple loan accounts | 6 on settlement, and unlimited after settlement |
Repayment and redraw options
| 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. |
Access and payment methods
| 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 |
Card and transaction limits
| Transaction type | Limit |
|---|---|
Daily Debit Mastercard limit for: Domestic ATM or other cash withdrawals Purchases made by selecting ‘savings’ or ‘EFTPOS savings’ at EFT Terminals, and / or Cash out transactions made by selecting ‘savings’ or ‘EFTPOS savings’ at EFT Terminals |
$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 Offset Funds Transfer limit For funds transfers between your Macquarie Accounts available via Electronic Banking there is no daily limit. If you would like to increase your daily funds transfer limit please contact us on 1800 007 722 (Monday to Friday 8am-7pm, Sydney time). |
$20,000 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 |
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 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 offer the flexibility of allowing you to have some of your home loan at a fixed rate and some of your home loan at a variable rate.
Macquarie home loans offer the flexibility of allowing borrowers to:
• Have all of their home loan at a variable rate
• Have all of their home loan at a fixed rate
• Split their mortgage into fixed and variable portions.
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 offer the flexibility of allowing you to have some of your home loan at a fixed rate and some of your home loan at a variable rate.
Macquarie home loans offer the flexibility of allowing borrowers to:
• Have all of their home loan at a variable rate
• Have all of their home loan at a fixed rate
• Split their mortgage into fixed and variable portions.
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.
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.
If you have an Offset Home Loan account with a BSB starting with 182
You can open up to 10 offset accounts which can be linked to an offset home loan account. Offset accounts aren't available for any other type of home loan.
To open additional offset accounts:
1. Go to macquarie.com.au/everyday-banking/transaction-account
2. Go to Open an account and submit an online application to open a Macquarie transaction account as an existing customer.
3. Once you have completed the application, you’ll need to contact us on 1800 007 722 (+61 8245 4383) to switch and link your transaction account to your offset home loan.
A Mastercard Debit Card will automatically be sent along with your online application to the postal address linked to your profile.
Please note, you can't link an offset account to a fixed home loan account.
If you have an Offset Home Loan account with a BSB starting with 032
Additional offset accounts aren't available.
You can open up to 10 offset accounts which can be linked to an offset home loan account. Offset accounts aren't available for any other type of home loan.
To open additional offset accounts:
1. Go to macquarie.com.au/everyday-banking/transaction-account
2. Go to Open an account and submit an online application to open a Macquarie transaction account as an existing customer.
a. To do this select Yes for the question Do you have any other Macquarie products?
b. Enter your Macquarie ID and Password to login
c. If this new account is a joint account with another borrower, ensure you have ticked Yes for the question Are you applying with someone else? and have them enter their Macquarie ID and Password in Step 4 of the application
b. Enter your Macquarie ID and Password to login
c. If this new account is a joint account with another borrower, ensure you have ticked Yes for the question Are you applying with someone else? and have them enter their Macquarie ID and Password in Step 4 of the application
3. Once you have completed the application, you’ll need to contact us on 1800 007 722 (+61 8245 4383) to switch and link your transaction account to your offset home loan.
A Mastercard Debit Card will automatically be sent along with your online application to the postal address linked to your profile.
Please note, you can't link an offset account to a fixed home loan account.
If you have an Offset Home Loan account with a BSB starting with 032
Additional offset accounts aren't available.
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 allows 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:
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:
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 to transfer funds from your account online is $20,000 per day. If you need to transfer above this amount, please call 1800 007 722 (+61 8245 4383).
For loan accounts with BSB starting with 182 only, there is no daily limit for funds transfers between your Macquarie accounts.
There is no daily limit for BPAY® payments from your account, however the institution you are paying to may have set a limit on incoming transfers.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
Redraw is a product feature enabled on most home loan products except for:
- construction loans with a BSB starting with 032
- 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
- reverse mortgages
- accommodation bond reverse mortgages.
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:
- Select Accounts from the side menu; or first click on the
icon in top left-hand corner to display the side menu
- Select the home loan account
- Select the Account Details tab
- Available funds for redraw is shown as Redraw balance under Account Summary.
To check your available redraw balance on the Macquarie Mobile Banking app:
- Select a home loan account from the main screen
- 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:
- Select the
icon from the side menu; or first click on the
icon in top left-hand corner to display the side menu
- Select the home loan account with available redraw balance
- 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:
- Select the
icon on the front screen
- Select either Internal transfer or Make a payment
- Select the home loan account with available redraw balance
- Select the Macquarie account you wish to pay to, or New payee/biller.
The daily limit to transfer funds from your account online is $20,000 per day. If you need to transfer above this amount, please call 1800 007 722 (+61 8245 4383).
For loan accounts with BSB starting with 182 only, there is no daily limit for funds transfers between your Macquarie accounts.
There is no daily limit for BPAY® payments from your account, however the institution you are paying to may have set a limit on incoming transfers.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
"We’re able to...offset against our mortgage and save more money that way. When we need to we can just draw out of our offset account."
Exarhos family
Additional information
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.
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.
You must be a member of the Qantas program to earn and redeem Qantas Points. A joining fee usually applies, however MBL has arranged for this to be waived if you are a new applicant for a home loan that includes a flyer feature and you apply for membership online at qantas.com/joinffmacquarieflyer. Membership and the earning and redemption of Qantas Points are subject to the Qantas terms and conditions available at qantas.com/terms. Qantas Points, offered by Macquarie Bank Limited (MBL), accrue and will be credited to your Qantas account in accordance with your Home Loan terms and conditions. You may not earn Qantas Points if you are in arrears or default under your loan agreement, or during the construction period of a loan. Macquarie is not responsible for the administration of the Qantas program. Qantas Airways Limited remains at all times solely responsible for the administration of the Qantas program. Qantas has made no enquiries as to the accuracy of the Macquarie products or services described, and is not responsible for errors or omissions.
Approval is subject to Macquarie credit criteria and suitability assessment. Terms and conditions apply and are available upon request. Fees and charges apply. Allow up to 10 working days to process your application.
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 calculations are based on a principal and interest repayment type only. Principal and interest repayments are calculated based on the loan term, interest rate and loan limit.
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.
Qantas has made no enquiries as to the accuracy of the Macquarie products or services described, and is not responsible for errors or omissions. Macquarie Bank Basic and Offset home loans are not Qantas products and are not offered or issued by Qantas but by Macquarie as Servicer.
Macquarie Bank Basic and Offset home loans are issued by Macquarie and are not Qantas products nor are they offered or issued by Qantas. Qantas has made no enquiries as to the accuracy of the Macquarie products or services described, and is not responsible for errors or omissions.
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.
Please refer to your financial table for credit card annual fees if you discharge your loan with us. Other fees and charges may apply.
Our cards are 5-star Canstar rated for Outstanding Value Travel Credit Card and Outstanding Value Travel Debit Card for 2019/2020.
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.
Information and interest rates are current as at 9 October 2020 and are subject to change.