Summary

Earn a competitive 4.65% p.a. on a 1-year term deposit with Macquarie Bank.

The Macquarie Bank Term Deposit is a fixed investment for periods of one month to five years. Lock your funds away for a period of time that suits you and enjoy a fixed interest rate for the life of your term.

The Macquarie Bank Term Deposit is open to businesses, trusts and partnerships as well as personal applicants.

Pros

Earn a fixed interest rate up to 4.65% p.a.
Available for personal use as well as SMSFs, businesses and trusts
$0 Account keeping fees
Flexible terms from 1 month to 5 years

Cons

High minimum investment amount of $5,000
31 days notice required to withdraw funds early

Details

Key details

Product Name	Macquarie Bank Term Deposit
3 month interest rate	4.95%
4 month interest rate	4.85%
6 month interest rate	4.85%
9 month interest rate	4.70%
12 month interest rate	4.65%
24 month interest rate	3.90%
36 month interest rate	3.80%
48 month interest rate	3.80%
60 month interest rate	3.80%
Minimum Opening Deposit	$5,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$5,000
Available to children	Not available for children

❮ ❯

Congratulations, Macquarie!

Macquarie Transaction Account received the following awards in the 2024 Product Awards:

'Transaction Account' - Winner
'Travel Debit Card' - Highly Commended

Full list of 2024 winners

Congratulations, Macquarie Bank!

Macquarie Savings Account received the highly commended award for 'Savings Account' in the 2024 Banking Product Awards.

Full list of 2024 winners

Key features

No fees

Pay no fees to open a Macquarie Bank Term Deposit and pay no monthly account keeping fees.

Terms from 1 month to 5 years

Choose terms ranging from as little as one month to five years. Typically, the longer you lock your money away the more competitive the interest rate is.

Tiered interest rates up to 4.65% p.a.

A 1-month term deposit gets a rate of 2.1% p.a., and the interest rate gradually increases with the investment term. If you opt for a 1-year term deposit you'll lock in a fixed interest rate of 4.65% p.a.

Choose when to receive interest

Choose between receiving your interest payments every month, quarter, half-yearly, annually or when the term deposit matures. The type of interest payment you can opt to receive depends on the term deposit period. Interest can be paid to a nominated bank account or reinvested back into the term deposit.

Automatic roll-over at maturity

Your investment is automatically renewed by Macquarie Bank at the end of your term unless you contact the bank to state otherwise. The new term deposit rate may be lower or higher than the rate offered on your first investment. You're able to make changes to your account for five days after your funds have rolled over to a new term deposit; this is known as the "grace period".

Minimum deposit of $5,000

The minimum deposit is $5,000 and the maximum deposit is $999,999.

Direct debit available

You can deposit funds into the Macquarie Bank Term Deposit by direct debit from an account held with Macquarie Bank or another financial institution.

31-day notice period for withdrawals

You cannot withdraw the money to a third party account and the funds cannot be issued as a cheque. You must provide 31 days' notice to Macquarie Bank if you want to withdraw your money before the investment matures. If you wish to close your account before it matures, you may be liable to pay interest charges to Macquarie Bank (interest adjustment).

Online access

View your term deposit balance online by registering for the Macquarie Bank Internet banking facility, or via mobile banking using the Macquarie Bank mobile app.

Receive regular statements

Term deposit statements are issued every six months. You will also receive a statement at term deposit maturity. Your statement outlines details of your investment including the balance of the account and account transactions.

Availability

You can apply for this account in your own name, as a joint application or you can open this investment in the name of a business or trust.

Government guarantee

Deposits up to $250,000 are guaranteed by the government.

Launch term deposit calculator

How to apply

You can apply for this term deposit online in your own name, jointly, in the name of a trust or a self-managed super fund, a company or a business. If you're a new customer, you'll need to verify your identity with Macquarie Bank. The identity verification process can be completed online.

Eligibility

Before beginning the application process online, make sure you meet the account eligibility criteria and have the necessary documents handy.

Age. You must be over the age of 18.
Residency. You must be an Australian resident with an Australian residential address.

Deposit. You must deposit $5,000 or more when you open the Macquarie Bank Term Deposit.

Documentation needed

Identification. Have your passport, driver's licence or proof of age card handy when you apply so you can complete the online identity verification process.
Personal details. You'll be asked to supply your full name, date of birth, email address and contact phone number.
Tax file number. Enter your tax file number (TFN) or TFN exemption when you apply so Macquarie Bank can tax your interest earnings at the correct rate. If you fail to provide this information, Macquarie Bank will deduct tax from your interest earnings at the top marginal rate.

What happens after I submit my application?

Macquarie Bank will send your account details to your nominated mailing address or email address once you've applied and have been approved for the term deposit.

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Thomas Jacobsen

March 19, 2024

I have $350,000-00 in My Self Managed Super account and wish to deposit it at the best rate gong currently, you were advertising 5.25% on Facebook Market place recently is this still available please. I also have a Personal account I recently opened with Macquarie and have around $630,000.00 to deposit on short term, ( On Call), what is the best rate you can offer =for that please

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Sarah Megginson Finder

March 25, 2024

Hi Thomas, we’re a review and comparison site, so we can’t provide personal advice. You can contact Macquarie on (02) 8232 3333.

David F

January 23, 2024

Does Macquarie Bank have on line savings accounts for strata trust accounts

Sarah Megginson Finder

February 15, 2024

Hi David,

Macquarie has business trust accounts to cater to legal-controlled monies accounts, such as strata sinking and administration funds, individual building accounts, property management, real estate invested sales deposits and retail bonds.

Hope this helps!

Peter

June 19, 2023

Hi I have $XXX to invest for 3 months

What is your best rate?

Alison Banney Finder

June 22, 2023

Hi Peter, you’ve reached Finder, we are not affiliated with Macquarie Bank. To discuss your rate options for your investment amount we’d suggest getting in touch with the bank directly.

Thanks,

Alison

David

June 12, 2023

If we open a 3 month Term deposit for our SMFS is the capital and interest available at maturity? Thanks David

Alison Banney Finder

June 22, 2023

Hi David, yes the capital and interest will be available when the account reaches maturity.

les Andrews

June 07, 2023

Can invest from my Self managed Super Fund?

Alison Banney Finder

June 08, 2023

Hi Les, yes you can open a Macquarie Bank Term Deposit for your SMSF. When applying, select the ‘Joint account holder, Company or Trust’ application option.

Macquarie Bank Term Deposit

Pros

Cons

Congratulations, Macquarie!

Congratulations, Macquarie Bank!

Key features

No fees

Terms from 1 month to 5 years

Tiered interest rates up to 4.65% p.a.

Choose when to receive interest

Automatic roll-over at maturity

Minimum deposit of $5,000

Direct debit available

31-day notice period for withdrawals

Online access

Receive regular statements

Availability

Government guarantee

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other term deposit accounts

Compare other products from Macquarie Bank

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