Finder makes money from featured partners, but editorial opinions are our own.

Macquarie savings and bank accounts

Macquarie Bank has one savings account, transaction account and term deposit available for personal banking customers.

Not enough reviews Write a review
Macquarie Bank

Macquarie savings accounts, bank accounts and term deposits

Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Macquarie Cash Management Accelerator Account
Maximum Variable Rate p.a.
4.65%
Standard Variable Rate p.a.
4.65%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Macquarie Transaction Account
Maximum Variable Rate p.a.
4.75%
Standard Variable Rate p.a.
4.75%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Macquarie Cash Management Account
Maximum Variable Rate p.a.
2.75%
Standard Variable Rate p.a.
2.75%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Macquarie Business Savings Account
Maximum Variable Rate p.a.
4.65%
Standard Variable Rate p.a.
4.65%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
loading
Showing 5 of 5 results
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Macquarie Bank Transaction Account
Finder AwardApple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
loading
Showing 1 of 1 results
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Macquarie Bank Term Deposit
$5,000 min. deposit$1,000,000 max. deposit
3 Mths p.a.
4.80%
4 Mths p.a.
4.80%
5 Mths p.a.
-
6 Mths p.a.
4.80%
7 Mths p.a.
-
12 Mths p.a.
4.65%
24 Mths p.a.
4.35%
More Info
loading
Showing 1 of 1 results
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
  • Balances up to $250,000
Go to siteView details
Bank of Queensland Future Saver Account - 14 to 35 years
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 eligible transactions
  • Balances up to $50,000
Go to siteView details
AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
  • Balances up to $250,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
Australian Unity Freedom Saver ($50,000 - $250,000)
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
5.10%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
loading
Showing 12 of 16 results

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

Quick facts about Macquarie Bank

  • Macquarie Bank is a part of the Macquarie Group, a worldwide financial services institution.
  • Macquarie is primarily an investment bank with business and institutional clients. However, it does offer a few personal bank accounts and products too.
  • Macquarie was established in Australia in 1969.
  • Macquarie only offers one savings account and one transaction account option for personal customers.
  • Its main office is based in Sydney, though anyone around Australia is able to open an account with Macquarie.
  • Macquarie invests heavily in its digital and online banking platforms.

What accounts are offered by Macquarie Bank?

Macquarie is one of the largest banks in Australia, however it only offers a few account options for personal customers.

Macquarie Transaction Account

The Macquarie Transaction Account does not charge any international transaction fees when you shop online or overseas. There are also no monthly fees and all Australian ATM fees are refunded.

Macquarie Savings Account

The Macquarie Savings Account has an introductory bonus interest rate of 5.35% p.a. for the first 4 months, reverting to the standard interest rate of 4.75% p.a. once the introductory period ends. You can link the account to the Macquarie Transaction Account for easy access to your cash.

Macquarie Term Deposit Account

The Macquarie Term Deposit offers a fixed rate of return on your deposit for a term length between 1 month and 5 years. It can be linked directly to an existing Macquarie Cash Management Account to add flexibility to your investment options.

Different ways to bank with Macquarie

Bank branches and ATM network

Macquarie operates primarily online, with limited bank branches in Australia and no ATMs. Although it has several office locations, these are not set up like a traditional bank branch for personal customers to do their day-to-day banking and are mainly for business clients and customers. Because Macquarie has no ATMs of its own, if you've got a Macquarie Transaction Account you can use an ATM in Australia and get the withdrawal fee refunded back into your account.

Bank@Post

If you need to deposit cash into your account you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way. Macquarie also has a partnership with NAB, so you can also deposit cash or cheques into your account via a participating NAB branch.

Macquarie Internet and mobile banking

You can use Macquarie Online Banking to review transactions and balances, pay bills, transfer money between accounts and make BPay payments, view and download statements, open accounts and change your card's daily withdrawal limits. You can create a personal dashboard in your online banking portal with spending graphs and charts to keep you on track with your budget.

The Macquarie Mobile Banking app features spending categorisation and budgeting tools, and allows you to create monthly budgets, receive real-time spend notifications, upload receipts and search past transactions. It also offers benefits when you're travelling, such as showing the local exchange rate for the country you're in and sending you transaction alerts in that local currency.

Contactless payment options

Macquarie offers Apple Pay and Google Pay to customers with a debit card or credit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items, instead of using your physical debit card.

Pros and cons of banking with Macquarie Bank

Pros

  • Specialised wealth services. Not only does Macquarie Bank offer savings and transaction products, it provides expert help for clients making investment choices to build wealth.
  • No fees. There's no account keeping fee, no foreign transaction fee and all ATM fees in Australia are refunded back to you with the Macquarie Transaction Account.
  • Competitive products. Macquarie's savings account rate is often very competitive compared to the big banks, and its transaction account has minimal fees compared to others in the market.
  • Good online features. Macquarie is known for being a digital bank with great online banking and mobile app features.

Cons

  • Limited branch network. Macquarie Bank is focussed on cashless banking and only has 3 branches for depositing cash for its transaction and savings accounts.
  • Small range of products. Macquarie only has a small range of personal banking products available.

How do I apply for a Macquarie account online?

You need to compare the accounts offered by Macquarie Bank against others to make sure they suit your personal financial needs and your unique situation. If you decide that one of Macquarie's accounts suits your needs, Macquarie makes it easy to apply for its savings accounts with a fast online application and electronic identity verification.

  • Ensure that you qualify. You are able to apply for Macquarie’s savings products online if you are at least 18 years old, have a valid email address and are an Australian resident.
  • Electronic verification. By providing Macquarie Bank with details from your identification documents, such as a passport or driver’s licence, there is no need to fill out any other paperwork. Plus, with the use of electronic signatures on the application, you can begin depositing and managing your money as soon as the account is opened.
  • Set up direct deposits. You will have the option of setting up direct deposits and debits as you complete the application form.

How to apply for a Macquarie account online

You can apply for a new Macquarie account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

More guides on Finder

  • Macquarie Bank Term Deposit

    Get the certainty of a fixed return when you invest your money in a Macquarie Bank Term Deposit for periods ranging from 1 month to 5 years.

  • Macquarie Transaction Account

    With no fees and easy access to your money, Macquarie Bank makes your everyday transactions simple.

  • Macquarie Bank Savings Account

    Get bonus interest after you open the Macquarie Bank Savings Account and pay no fees to open this account or access your money.

  • Macquarie Cash Management Account

    If you are looking for a secure hub from which to manage your investment funds, the Macquarie Bank Cash Management Account may have the flexibility you need.

Ask a Question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

19 Responses

    Default Gravatar
    IanMay 3, 2023

    I am looking at setting up an “emergency” type savings account with strong interest. I would deposit approx $20k and hope to only withdraw money if something unforeseen comes up, while depositing money as and when required.
    The Macquarie Bank is offering 4.8% max for 4 months to a variable rate of 4% after 4 months.
    Do you believe that this would be the type of account that suits my needs, or am i missing something?
    Cheers
    Ian

      AvatarFinder
      SarahMay 5, 2023Finder

      Hi Ian,

      We’re not licenced to give personal financial advice so we can’t comment on your specific situation. But we can confirm this bank does offer a very competitive rate, so if the terms and conditions suit your needs, this could be a great option.

      Some other options are outlined here:
      https://www.finder.com.au/savings-accounts/high-interest-savings-accounts

      Best of luck!

    Default Gravatar
    ChristineNovember 9, 2022

    Do you have a participating NAB branch in the Gosford, NSW area which would accept cheques for a Macquarie Bank Savings account?

      AvatarFinder
      AlisonNovember 10, 2022Finder

      Hi Christine,

      Please note that we are not NAB. You may want to get in touch with NAB directly to see a full list of their branches that would accept cheques.

      Regards,
      Alison

    Default Gravatar
    LarryOctober 20, 2022

    I would like to deposit 25000.00 plus in a Macquarie saving account for months at 4 % which is the best number to call

      AvatarFinder
      AlisonNovember 11, 2022Finder

      Hi Larry,

      You can open a Macquarie Savings Account online without calling or visiting a branch. If you did want to speak to someone about the account before you open it, you can contact the bank at +61 2 8232 3333.

      Thanks,
      Alison

    Default Gravatar
    ArturDecember 1, 2021

    Can I have a statement of my account # 192512-961330636

      AvatarFinder
      AlisonDecember 11, 2021Finder

      Hi Artur,

      Finder is a comparison website and we don’t have access to your bank account information or accounts. Generally, depending on the type of your account, you can download statements from Macquarie Online Banking and the Macquarie Mobile Banking app. If you have trouble downloading your statement we recommend you call Macquarie bank on 1800 806 310 to request a statement.

      Thanks,
      Alison

    Default Gravatar
    SusanSeptember 14, 2021

    Which account would be preferable to open for the management of stocks and share transactions? Macquarie Transaction Account or Macquarie Cash Management Account and is there any interest ascribed to either of these accounts?

      AvatarFinder
      AlisonSeptember 16, 2021Finder

      Hi Susan,

      Of those two accounts, the Macquarie Cash Management Account is specially designed for SMSF trustees, online traders and professional investors. This account also has online trading integration and is SMSF ready. While the Macquarie Transaction Account is designed for personal use for day-to-day transactions and spending.

      Make sure you review the Product Disclosure Statements and Terms & Conditions and consider whether the product is right for you.

      Regards,
      Alison

Go to site