Macquarie Business Savings Account

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Our verdict

This is a low-fee online business savings account that lets you earn a competitive interest rate.

The Macquarie Business Savings Account is a high interest online account that lets you earn an interest rate of up to 4.4% on your business savings.

This account offers a tiered interest rate based on your account balance. You can earn the maximum rate on balances of up to $250,000. You will earn less interest on any money beyond this.

Pros

  • No fees
  • Competitive rate

Cons

  • Your rate is lower on money saved beyond $250,000
  • No debit card

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other business savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Macquarie Business Savings Account
Maximum Variable Rate 4.40% p.a.
Standard Variable Rate 4.40% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 15

Key features

Maximum variable interest rate of 4.4%

This account has a tiered rate structure. You will earn the maximum variable rate on every dollar saved up to $250,000.

Every dollar saved beyond this earns interest, but at a lower rate.

Account fees

This account has no fees.

Minimum and maximum balance

There are no minimum or maximum balances for this account.

Features

This account offers internet banking and instant payments. It does not offer phone banking.

You also have access to Macquarie's banking app.

How to apply

Eligibility

You can open a Macquarie Business Savings Account if you are:

A sole trader or company director.
A permanent resident of Australia.
You don't hold any Macquarie bank products (transactions, savings, cash management, term deposit, home loan, car loan or credit card).

Compare other business savings accounts

Product Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Zeller logo
Finder score
Maximum Variable Rate p.a.
3.00%
Standard Variable Rate p.a.
3.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Thriday logo
Finder score
Maximum Variable Rate p.a.
3.35%
Standard Variable Rate p.a.
3.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Great Southern Bank logo
Finder score
Maximum Variable Rate p.a.
3.85%
Standard Variable Rate p.a.
3.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Get a competitive interest rate on your business savings with no fees, plus easy access from a linked transaction account.
View details
Airwallex logo
Finder score
Maximum Variable Rate p.a.
0.00%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.75%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances $10,000.01 to $250,000.
View details
ANZ logo
Finder score
Maximum Variable Rate p.a.
1.15%
Standard Variable Rate p.a.
0.25%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances $5,000 and above
View details
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

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