Compare Macquarie Bank savings accounts

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.

Rates last updated June 25th, 2019
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Macquarie Transaction Account
Mastercard
$0
$0
Everyday banking with a linked Mastercard and protection against unauthorised transactions.
Macquarie Platinum Transaction Account
Mastercard
$0
$0
Enjoy $0 international transaction fees with 24/7 complimentary concierge services.

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Rates last updated June 25th, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Macquarie Savings Account
2.65%
1.10%
1.55%
$0
$0 / $0
Introductory rate of 2.65% p.a. for 4 months, reverting to a rate of 1.10% p.a. Available on balances below $250,000.

Macquarie Cash Management Account
1.05%
1.05%
0.00%
$0
$0 / $0
Receive dividend payments, track your investments spending and pay no account keeping fees. Earn 1.05% p.a. on balances $5,000 and over.

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Rates last updated June 25th, 2019
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Macquarie Bank Term Deposit
2.30%
2.30%
2.25%
-
2.15%
2.15%

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Rates last updated June 25th, 2019
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Macquarie Transaction Account
Mastercard
$0
$0
Everyday banking with a linked Mastercard and protection against unauthorised transactions.
Macquarie Platinum Transaction Account
Mastercard
$0
$0
Enjoy $0 international transaction fees with 24/7 complimentary concierge services.

Compare up to 4 providers

Rates last updated June 25th, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Macquarie Savings Account
2.65%
1.10%
1.55%
$0
$0 / $0
Introductory rate of 2.65% p.a. for 4 months, reverting to a rate of 1.10% p.a. Available on balances below $250,000.

Macquarie Cash Management Account
1.05%
1.05%
0.00%
$0
$0 / $0
Receive dividend payments, track your investments spending and pay no account keeping fees. Earn 1.05% p.a. on balances $5,000 and over.

Compare up to 4 providers

Rates last updated June 25th, 2019
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Macquarie Bank Term Deposit
2.30%
2.30%
2.25%
-
2.15%
2.15%

Compare up to 4 providers

Rates last updated June 25th, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
UBank USaver
2.87%
1.81%
1.06%
$0
$0 / $0
Ongoing, variable 2.87% p.a. when you link your USaver account to a UBank Ultra transaction account and transfer at least $200 per month into either account. The linked transaction account has no monthly fees and no international fees. Bonus interest available on balances up to $200,000.
AMP Saver Account
2.75%
1.85%
0.90%
$0
$0 / $0
Introductory rate of 2.75% p.a. for 4 months, reverting to a rate of 1.85% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $250,000 deposited.
Suncorp Growth Saver Account
2.30%
0.20%
2.10%
$0
$0 / $0
Ongoing, variable 2.30% p.a. when you make a total deposit of at least $200 and make no more than one withdrawal. Available on the entire balance.
HSBC Serious Saver
2.85%
0.95%
1.90%
$0
$0 / $0
Receive a maximum variable rate of 2.85% p.a. for 4 months, reverting to an ongoing rate of 0.95% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
HSBC Flexi Saver Account
2.50%
1.00%
1.50%
$0
$0 / $0
Ongoing, variable 2.50% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.

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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.

What about the mobile app?

Image Source: App Store
Account Balance Transaction History Apple Pay
Macquarie Mobile Banking - Balance Macquarie Mobile Banking-Spending Macquarie Mobile Banking- Google Play
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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 1.10% 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.

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What are the pros and cons when banking with Macquarie Bank?

Pros

  • 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.

Cons

  • Limited branch network. Macquarie Bank is focussed on cashless banking and only has three branches for depositing cash for their transaction and savings accounts.
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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.

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7 Responses

  1. Default Gravatar
    WendyMay 14, 2019

    What accounts do you offer for business savings? Or can one put funds in a normal savings account under a business name?

    • Avatarfinder Customer Care
      MaiMay 15, 2019Staff

      Hi Wendy,

      Thank you for reaching out.

      It would be adviseable if your business will be using a business bank account to maintain and grow your business effectively.

      I suggest you visit our page Business Banking Finder™ – Compare business banking solutions to check available options for you. There’s a tab above the comparison table where you can toggle depending on what account does your business needs.

      Hope this helps! 😊

      Kind Regards,
      Mai

  2. Default Gravatar
    margaretDecember 6, 2018

    Is 2.75% TD for 6 months really 2.75% net ? or do you take something off that ?

    • Avatarfinder Customer Care
      JohnDecember 10, 2018Staff

      Hi Margaret,

      Thank you for reaching finder.

      The 6 month term deposit of Macquarie bank is tagged at 2.75%. finder does not take anything off of the interest you gain from the term deposit. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    CharlesFebruary 7, 2018

    I am looking to enhance returns on monies that I currently have in a Bank Term Deposit which is now due for reinvestment. I am not happy with the current rate of 2.05% offered for a three month term and wish to look at other options without increasing risk or entering into long term.

    • Default Gravatar
      JoelFebruary 17, 2018

      Hi Gregory,

      Thanks for leaving a question on finder. There’s no maximum age limit at which you can qualify for a home loan. Australia’s anti-discrimination legislation, namely the Age Discrimination Act 2004 and National Consumer Credit Protection Act 2009, prevents lenders from discriminating against home loan applications due to age.

      However, lenders also need to be sure that anyone they lend to can afford to repay the loan without experiencing any financial hardships. With this in mind, the older you are, the more difficult you might find it to obtain home loan approval. Please use our guide here about getting a home loan taking the applicants age into account. If you need anything else, please send us a message anytime.

      Cheers,
      Joel

    • Default Gravatar
      JoelFebruary 17, 2018

      Hi Charles,

      Thanks for leaving a question on finder.

      If you are looking to compare term deposit accounts, please go here. Some providers in this page go as high as 2.70% interest rates. However, for a 3-month term, the highest rate is 2.35% which is comparable to what Macquarie is offering above. If you need anything else aside from this, please send us a message anytime.

      Cheers,
      Joel

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