These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Macquarie Bank is passing the February 2025 cash rate cut on to borrowers.
From 28 February variable rate home loans dropped by 25 basis points.
From that date the lowest variable rate loan the Macquarie Bank offers will be 5.89%.
Macquarie Bank is one of Australia's largest banks. The lender offers fixed and variable rate loans, including basic and package loans. Check out the full table of Macquarie Bank products below or read more about the lender and its loans.
Compare Macquarie Bank home loans for March 2025
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "more info".
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Macquarie Bank key facts
Macquarie Bank has some quite competitive interest rates, especially on its basic loans. Most of its loans have very minimal fees.
The bank's basic home loans have lower rates, while the package loans have 100% offset accounts.
You need at least a 10% deposit to qualify for some Macquarie Bank home loans, but many require a 20% deposit or even higher. Borrowers with small deposits need to research their options carefully to avoid applying for a rate they cannot get.
Here are the key features and details you need to know about Macquarie Bank's mortgage products.
Feature
Details
Minimum deposit
While some Macquarie Bank loans have 90% maximum LVRs, meaning you can get them with 10% deposits, many don't. Some of the bank's lowest rates are for borrowers with 30% deposits or more.
Offset account?
Macquarie Bank package loans come with offset accounts, while the basic loans do not.
Fees
While Macquarie Bank's package loans come with a standard annual fee, most Macquarie Bank loans have very minimal fees.
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How do I apply for a Macquarie Bank mortgage?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
Each Macquarie Bank product has specific eligibility criteria, but some will apply to all products. For example:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with Macquarie Bank you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property, but to complete an application, you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (such as savings accounts and investments) and liabilities (for example, your outstanding debt).
If you're looking for a home loan from a similar lender to Macquarie Bank, you could look at the Big Four or some of Australia's other mid-sized lenders.
Big Four banks. Check out home loans from Australia's Big Four banks.
AMP. AMP is a large Australian lender and financial services provider.
Bank of Queensland. Another of Australia's larger lenders, with a wide selection of mortgages.
Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
ING. This online bank is part of the global, Dutch-based financial group of the same name.
Looking for more mortgage options?
Online lenders. Compare more mortgages from online lenders.
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right Macquarie Bank loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
What's your deposit size? Many of Macquarie Bank's most competitive rates are only available to borrowers with deposits larger than 20%. This is important to consider if you haven't saved a large deposit.
What is the purpose of the loan? If you're buying a home to live in, you need an owner-occupier loan. Property investors need an investment loan rate. Macquarie Bank offers various options for both borrower types.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period, so you can forget about rate changes at all?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Macquarie Bank is an authorised deposit-taking institution (ADI). This means customers with money deposited in a Macquarie Bank savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000, even if the bank itself collapses.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio
Richard's expertise
Richard has written 596 Finder guides across topics including:
Hello
I would need a 10% deposit prior to selling my house. Is a deposit bond better or should I ask for an increase on my existing mortgage to exchange? I will also need to additional funds to purchase new house – should I apply for bridging finance and a new loan at same time? What lenders offer both bridging finance and anew loan at same time as selling existing house?
Thanks
Ian m
Finder
RichardMay 16, 2022Finder
Hi Ian,
You might be better off speaking to a mortgage broker about a complicated borrowing situation like this. You should also check in with your current lender and see if your loan is portable (meaning it can move from one home to the next). Your current lender might be able to help.
Kind regards,
Richard
PingFebruary 4, 2022
I am interested in your basic home loan and offset home loan package. Can you contact me and discuss it?
Finder
RichardFebruary 24, 2022Finder
Hi Ping,
You can talk to a Macquarie Bank Home Loan Specialist by calling 13 62 27 to discuss the details. They are available Monday to Friday, from 08:00 AM to 06:00 PM AEDT.
Home loan cashback deals can help you refinance to a cheaper interest rate and get a lump sum cash payment. Compare the latest deals and check your eligibility today.
What is an offset account? It can save you thousands in interest and help you own your home sooner.
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Hello
I would need a 10% deposit prior to selling my house. Is a deposit bond better or should I ask for an increase on my existing mortgage to exchange? I will also need to additional funds to purchase new house – should I apply for bridging finance and a new loan at same time? What lenders offer both bridging finance and anew loan at same time as selling existing house?
Thanks
Ian m
Hi Ian,
You might be better off speaking to a mortgage broker about a complicated borrowing situation like this. You should also check in with your current lender and see if your loan is portable (meaning it can move from one home to the next). Your current lender might be able to help.
Kind regards,
Richard
I am interested in your basic home loan and offset home loan package. Can you contact me and discuss it?
Hi Ping,
You can talk to a Macquarie Bank Home Loan Specialist by calling 13 62 27 to discuss the details. They are available Monday to Friday, from 08:00 AM to 06:00 PM AEDT.
Or you can send them a request for a call back at a more suitable time.
Regards,
Sarah