With Macquarie Bank, you can get expert advice on the best ways to make your money grow.
Macquarie Bank is a part of the Macquarie Group, a worldwide financial services institution. Established in 1969 at a small Sydney office, the focus of Macquarie has always been to provide investment banking services to the Australian Market. Although now at a global level, Macquarie Bank still offers a range of personal financial products.
- Transaction Accounts
- Savings Accounts Interest Rates
- Term Deposits Interest Rates
- How do Macquarie Bank savings accounts compare?
Awards that Macquarie Bank has earned
- Best Australian Investment Bank – Awarded by the Asset in 2013
- Best Australian Investment Bank – Awarded by both Global Finance and M&A Advisor in 2013
Who is Macquarie Bank?
With Macquarie Bank you are going to find savings products that are designed to build your personal wealth. With competitive interest rates and accounts that charge no monthly fees, you’ll even find options with online accessibility.
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What transaction accounts are offered by Macquarie Bank?
- Macquarie Transaction Account
The Macquarie Transaction Account does not charge any international purchase fees when you shop online or overseas. There's also no monthly fees and it comes with a competitive interest rate for balances over $5,000.
- Macquarie Platinum Transaction Account
With a minimum monthly deposit of $4,000, the Macquarie Platinum Transaction Account allows you to earn interest on balances over $5,000. You can also enjoy concierge services such as restaurant reservations, booking tickets or booking accommodation.
What high interest savings accounts are offered by Macquarie Bank?
- Cash Management Account
By linking to Macquarie Online Trading, you can quickly transfer the savings in this account into a new investment opportunity. When not invested, your money is still earning interest calculated daily and paid monthly into your account with no monthly fees being charged to you.
This could be an ideal account for an SMSF trustee to manage their investments, or for the online trader who needs a secure way to hold their savings while waiting for a new opportunity. The Cash Management Account allows for direct deposits into the account from your salary or any dividend income, and direct debits to make your periodic payments.
- Macquarie Savings Account
The Macquarie Savings Account comes with an introductory bonus interest rate of 2.65% p.a. for the first 4 months, reverting to the standard interest rate of 1.30% p.a once the introductory period ends. Link the account to the Macquarie Transaction Account for easy access to your cash.
What term deposits are offered by Macquarie Bank?
The term deposit provided by Macquarie Bank can be linked directly to an existing Cash Management Account to add flexibility to your investment options. Terms begin at one month, and extend to five years, with the fixed competitive rates progressively getting higher. Macquarie lets you to choose when interest payments are made, giving you the chance to earn even more by having interest paid monthly and included in the daily calculations for the next months payment.Back to top
What are the pros and cons when banking with Macquarie Bank?
- Specialised services. Not only does Macquarie Bank offer savings products, they are experts at helping clients make investment choices to build wealth.
- No fees. Your savings grows even quicker without any fees being deducted from the account.
- Easy money management. You can manage all of your savings and investment accounts with ease using online banking.
- Limitations. Focused on savings and investments, everyday banking is not offered by Macquarie Bank.
- Account minimums. In order to keep an account with Macquarie Bank, you must maintain a minimum ongoing balance of $5,000.
How do I apply for Macquarie Bank savings account?
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 one of Macquarie's accounts suits your needs, Macquarie makes it easy to apply for their 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 will be able to begin depositing and managing your money as soon as the account has been opened.
- Set up direct deposits. You will have the option of setting up direct deposits and debits as you complete the application form.
Macquarie Bank offers savings solutions for investors and serious savers. Compare their terms and benefits with other banks and their products before you make a final choice in where your money will get the best benefit.