Macquarie savings and bank accounts

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

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Macquarie Bank

Macquarie savings accounts, bank accounts and term deposits

Name Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Macquarie Cash Management Accelerator Account
Macquarie Bank logo
Maximum Variable Rate p.a.
4.65%
Standard Variable Rate p.a.
4.65%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $1,999,999.99
Macquarie Transaction Account
Macquarie Bank logo
Maximum Variable Rate p.a.
2.75%
Standard Variable Rate p.a.
2.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $1,000,000 
Macquarie Cash Management Account
Macquarie Bank logo
Maximum Variable Rate p.a.
2.75%
Standard Variable Rate p.a.
2.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Macquarie Business Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
4.65%
Standard Variable Rate p.a.
4.65%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
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Showing 5 of 5 results
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Macquarie Bank Transaction Account
Macquarie Bank logo
Finder AwardApple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
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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. 11 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Macquarie Bank Term Deposit
Macquarie Bank logo
$5,000 min. deposit$999,999 max. deposit
3 Mths p.a.
4.95%
4 Mths p.a.
4.85%
5 Mths p.a.
-
6 Mths p.a.
4.85%
7 Mths p.a.
-
11 Mths p.a.
-
12 Mths p.a.
4.65%
24 Mths p.a.
3.90%
More Info
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Showing 1 of 1 results
1 - 12 of 185
Name Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.60%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
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
IMB logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
Earn up to 3.25% p.a. after the introductory period ends.
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
Rabobank PremiumSaver
Rabobank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.45%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance by $200+ each month
  • Balances up to $250,000
Go to siteView details
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Showing 12 of 13 results
Finder Awards badge

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 5% 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.

What do Australians think of Macquarie Bank bank account?

  • 4.03/5 overall for Customer Satisfaction — lower than the average of 4.11
  • 4.42/5 for Trust — lower than the average of 4.43
  • 3.86/5 for Customer Service — lower than the average of 4.07

Based on Macquarie Bank bank account scores in Finder's 2024 Customer Satisfaction Awards.

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.

Compare other products from Macquarie Bank

Alison Banney's headshot
Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 625 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

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.

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23 Responses

    Default Gravatar
    AndrewNovember 27, 2024

    Hi I’m an Australian citizen for tax reasons but have a base overseas so I don’t have a aus phone no for banking, is there a bank I can use that sends notifications by email, WhatsApp or other way?? Thanks

      AvatarFinder
      AngusNovember 28, 2024Finder

      Hi Andrew, Many banks now send notifications via their app (including all of the Big 4), so that’s an option for you to consider.

    Default Gravatar
    CarolNovember 4, 2024

    Why do my credentials not match up when logging in to Macquarie Bank. I have just set up an account with my password.

      AvatarFinder
      AngusNovember 5, 2024Finder

      Hi Carol, We’re a comparison site, so we can’t directly help you with this issue – you’ll need to chat to Macquarie itself. You can contact the bank on 133 174.

    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

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