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Split home loan
Enjoy flexibility and certainty by splitting your home loan.
A split home loan gives you added flexibility
Divide your home loan into multiple accounts, so you can take advantage of the benefits of both fixed and variable interest rates on your home loan.
"What matters to us most is flexibility and choice."
Lock in a low rate and pay off your loan sooner
Flexible loan set up
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.
Reduce the amount of interest you pay
Splitting your loan still offers you the option to use offset accounts to save on the interest you pay. With up to 10 offset accounts per variable interest rate loan account†, you can structure your savings in a way that works for you.
Pay off your loan faster
With a variable interest rate loan account, there’s no limit on additional payments. Whether you’re using an offset account or redraw facility, extra repayments could help you pay off your loan faster and reduce the amount of interest you pay over the life of your loan.
Easily access additional funds in your redraw
Sometimes it’s good to have a little buffer in your back pocket. Enjoy peace of mind knowing that you have unlimited, fee-free access to any additional repayments you’ve made on your variable home loan with our redraw facility.
Fixed rate home loan
Lock in certainty on monthly repayments with a fixed interest rate on your home loan.
- Fixed terms from 1 to 5 years.
- When your fixed rate term ends, you’ll automatically roll over onto a competitive variable rate.
Variable rate home loan
Enjoy the flexibility to pay off your loan sooner with a variable rate loan.
- Get an answer, faster
- Dedicated help
- Added perks
- 24/7 access and control
Fast turnaround times
Fast turnaround times
Need to move quickly? With a straightforward application process and faster turnaround times, you can enjoy peace of mind knowing you’ll get a timely response on the status of your loan.
Stay informed throughout the process
Stay informed throughout the process
We know applying for a home loan can be stressful, that’s why we keep you up to date with emails and calls from your dedicated home loan specialist. If you have any questions along the way, our team is here to help you find the right home loan to suit your circumstances.
Everyday banking to save as you spend
Everyday banking to save as you spend
Apply for our award-winning~ credit card as part of your home loan package to earn Macquarie rewards points. If you add a transaction account you’ll also get access to ongoing discounts of up to 10% on a wide range of eGift cards with Macquarie Marketplace.
Award-winning digital banking
Award-winning digital banking
Securely manage your money and track your home loan when and where you want, with our award-winning digital banking^^. Our market-leading digital tools are designed to help you spend and save smarter, so you can make the most of your finances.
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
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.
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:
- Select the
icon from the side menu; or first click on the
icon in top left-hand corner to display the side menu
- Update payment details and select the Recurring payment button
- Click Schedule payment.
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 032
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:
- Construction Loan
- SMSF Loan
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 8245 4383) 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 8245 4383), 8am to 7pm (AEST/ADST) 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
You can open up to 10 offset accounts which can be linked to an offset home loan account if you are a single or joint borrower. 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
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 2 8245 4383) to switch and link your transaction account to your offset home loan.
A Debit Mastercard 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 are a company or trust borrower you cannot open additional offset accounts after your home loan settles.
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 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 Pay Anyone limit to transfer funds from your account via Electronic Banking is $100,000 if you use the Macquarie Authenticator app. Otherwise, a default Pay Anyone limit of $20,000 will apply. If you need further assistance please call 1800 007 722 (+61 8245 4383) from 8am to 7pm (Sydney time) Monday to Friday.
For loan accounts with a BSB starting with 182 only, there is no daily Pay Anyone limit for funds transfers between your Macquarie accounts with a BSB starting with 182.
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
The home loan comparison rate is a rate that helps you work out the true cost of the loan and allows you to compare rates amongst other lenders. It reduces to a single percentage figure the interest rate plus some of the fees and charges relating to a loan. As well as the comparison rate, it’s important to consider the features each loan offers and how valuable these are to you.
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 would like to apply for a fixed rate home loan, contact your home loan broker, or call us on 13 62 27, 8am-6pm Monday to Friday (AEST/AEDST). If you’re an existing customer and would like to fix your home loan rate, please contact us on 1800 007 722 (+61 2 8245 4383), 8.30am – 5.30pm (AEST/ADST) Monday to Friday.
Important notes about fixed rates:
- You can’t fully fix an offset home loan. For an offset home loan, you must have at least $20K of your loan on a variable interest rate
- An offset transaction account can’t be linked to a fixed loan account. This is because offset benefits are not available while the linked loan account is on a fixed interest rate
- You can’t fix your interest rate on a construction account
- Break costs may be payable if you end your fixed term early or you make extra repayments above the thresholds below:
- If your BSB for your home loan account starts with 182 you can make extra repayments of up to $10K each year into each fixed account without incurring break costs
- If your BSB for your home loan account starts with 032 you can make extra repayments up to 5% of the initial fixed amount each year without incurring break costs
- You cannot access redraw whilst your account is fixed. Any extra payments you’ve made whilst your interest rate is fixed are only available at the end of your fixed rate period.
"Working with Macquarie I felt really looked after, I was really educated about the process and what was required."
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Additional information
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.
3 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 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.
Variable interest rate and comparison rate for basic owner-occupied home loans with principal and interest repayment. 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.
Our cards are 5-star Canstar rated for Outstanding Value Travel Credit Card and Outstanding Value Travel Debit Card for 2019/2020.
Our digital banking platforms have been awarded Mozo Experts Choice 2020 in the Internet banking category and Mozo Experts Choice 2020 in the Excellent digital app category for 2019/2020.
Open up to 10 offset accounts per 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.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Information and interest rates are current as at 11 November 2020 for new loans only and are subject to change.