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 May 23rd, 2018
$
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
Enjoy $0 international transaction fees with 24/7 complimentary concierge services.

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Rates last updated May 23rd, 2018
$
$
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%
1.30%
1.35%
$0
$0 /
Introductory rate of 2.65% p.a. for 4 months, reverting to a rate of 1.30% p.a. Available on balances below $250,000.

Macquarie Cash Management Account
1.30%
1.30%
0.00%
$0
$5,000 / $5,000
Invest your money and have at call access plus pay no account keeping fees.

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Rates last updated May 23rd, 2018
$
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. Min Deposit Interest Earned
Macquarie Bank Term Deposit
2.45%
2.45%
2.50%
-
2.55%
2.30%
$10,000

Compare up to 4 providers

Rates last updated May 23rd, 2018
$
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
Enjoy $0 international transaction fees with 24/7 complimentary concierge services.

Compare up to 4 providers

Rates last updated May 23rd, 2018
$
$
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%
1.30%
1.35%
$0
$0 /
Introductory rate of 2.65% p.a. for 4 months, reverting to a rate of 1.30% p.a. Available on balances below $250,000.

Macquarie Cash Management Account
1.30%
1.30%
0.00%
$0
$5,000 / $5,000
Invest your money and have at call access plus pay no account keeping fees.

Compare up to 4 providers

Rates last updated May 23rd, 2018
$
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. Min Deposit Interest Earned
Macquarie Bank Term Deposit
2.45%
2.45%
2.50%
-
2.55%
2.30%
$10,000

Compare up to 4 providers

Rates last updated May 23rd, 2018
$
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Monthly Account Fee
RaboDirect High Interest Savings Account
Introductory rate of 3.05% p.a. for 4 months, reverting to a rate of 1.80% p.a. Available on balances below $250,000
3.05% 1.80% 1.25% $0 $0 / $1 Go to site More
ING Savings Maximiser
Ongoing, variable 2.80% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month and make 5+ card purchases a month. Available on balances up to $100,000.
2.80% 1.15% 1.65% $0 $0 / $0 Go to site More
AMP Saver Account
Introductory rate of 2.55% p.a. for 4 months, reverting to a rate of 2.10% p.a. Available on balances below $5,000,000.
2.55% 2.10% 0.45% $0 $0 / $0 Go to site More
Bankwest Hero Saver
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
2.60% 0.01% 2.59% $0 $0 / $0 Go to site More
Bank Australia Bonus Saver Account
Ongoing, variable 2.60% p.a. when you deposit at least $100 and make no withdrawals. Available on the entire balance.
2.60% 0.15% 2.45% $0 $0 / $1 Go to site More
HSBC Serious Saver
Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
3.00% 1.60% 1.40% $0 $0 / $0 Go to site More
AMP Bett3r Account - Save Account
Earn a competitive, ongoing rate of up to 2.25% p.a. and set personal savings goals. Receive linked Pay and Spend accounts to help manage your money effortlessly.
2.25% 1.50% 0.75% $0 $0 / $0 Go to site More
RaboDirect High Interest Savings Account (SMSF)
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 1.90% p.a. Available on balances below $250,000
2.70% 1.90% 0.80% $0 $0 / $0 Go to site More
HSBC Flexi Saver Account
Ongoing, variable 2.50% p.a. when you deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
2.50% 1.25% 1.25% $0 $0 / $0 Go to site More
Citibank Online Saver
Introductory rate of 2.85% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances below $500,000.
2.85% 1.70% 1.15% $0 $0 / $0 Go to site More
RaboDirect SMSF PremiumSaver
Ongoing, variable 2.15% p.a. when you link to an RaboDirect High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.
2.15% 0.90% 1.25% $0 0 / $0 Go to site More
Westpac Life
Ongoing, variable 2.30% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
2.30% 1.50% 0.80% $0 $0 / $0 Go to site More

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 balanceTransaction historyPaymentsGoogle Pay
Macquarie Mobile Banking - BalanceMacquarie Mobile Banking-SpendingMacquarie Mobile Banking-PaymentMacquarie 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 1.30% 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.

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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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Read more on this topic

Savings Account Offers

Important Information*
RaboDirect High Interest Savings Account

Maximum Variable Rate

3.05

Standard Variable Rate

1.80
Bankwest Hero Saver

Maximum Variable Rate

2.60

Standard Variable Rate

0.01
Bank Australia Bonus Saver Account

Maximum Variable Rate

2.60

Standard Variable Rate

0.15
Citibank Online Saver

Maximum Variable Rate

2.85

Standard Variable Rate

1.70

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3 Responses

  1. 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.

    • Staff
      JoelFebruary 17, 2018Staff

      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

    • Staff
      JoelFebruary 17, 2018Staff

      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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