Macquarie Bank

Macquarie Bank home loans

Macquarie Bank has home loans for owner-occupiers and investors, with rates starting from 2.14%.

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Macquarie Bank is one of Australia's largest banks. The lender offers fixed and variable rate loans, including basic and package loans. Check out the full table of Macquarie Bank products below or read more about the lender and its loans.

Compare Macquarie Bank home loans for January 2022

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$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

Macquarie Bank Basic Home Loan P&IHome≥ 40% Deposit

Macquarie Bank Basic Home Loan
2.14%
2.14%
  • App: $0
  • Ongoing: $0 p.a.
$567
Apply for the Macquarie Bank Basic Home Loan - LVR ≤ 60% (Owner Occupier, P&I) and get a low variable interest rate, plus no application and ongoing fees. Requires a 40% deposit.

Macquarie Bank Basic Home Loan P&IHome≥ 20% Deposit

Macquarie Bank Basic Home Loan
2.24%
2.24%
  • App: $0
  • Ongoing: $0 p.a.
$574
Pay no application and ongoing fees and take advantage of split and redraw options. Refinancers can switch with a convenient digital application.

Macquarie Bank Offset Home Loan Package P&IHome≥ 40% Deposit

Macquarie Bank Offset Home Loan Package
2.14%
2.42%
  • App: $0
  • Ongoing: $248 p.a.
$567
A sharp variable rate with low fees for borrowers with 40% deposits or refinancers with equity in their properties. Refinancers can switch with a convenient digital application.

Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit

Macquarie Bank Basic Fixed Home Loan
3.09%
2.41%
  • App: $0
  • Ongoing: $0 p.a.
$641
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit. Refinancers can switch with a convenient digital application.

Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 20% Deposit

Macquarie Bank Basic Fixed Home Loan
3.14%
2.46%
  • App: $0
  • Ongoing: $0 p.a.
$645
Borrow up to $5,000,000 with this basic 3 years fixed rate home loan. Refinancers can switch with a convenient digital application.
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Macquarie Bank key facts

  • Macquarie Bank has some quite competitive interest rates, especially on its basic loans. Most of its loans have very minimal fees.
  • The bank's basic home loans have lower rates, while the package loans have 100% offset accounts.
  • You need at least a 10% deposit to qualify for some Macquarie Bank home loans, but many require a 20% deposit or even higher. Borrowers with small deposits need to research their options carefully to avoid applying for a rate they cannot get.
  • Macquarie Bank also offers credit cards, savings accounts and other banking services.

Review by our senior home loans writer Richard Whitten

Macquarie Bank home loan features

Here are the key features and details you need to know about Macquarie Bank's mortgage products.

FeatureDetails
Minimum depositWhile some Macquarie Bank loans have 90% maximum LVRs, meaning you can get them with 10% deposits, many don't. Some of the bank's lowest rates are for borrowers with 30% deposits or more.
Offset account?Macquarie Bank package loans come with offset accounts, while the basic loans do not.
FeesWhile Macquarie Bank's package loans come with a standard annual fee, most Macquarie Bank loans have very minimal fees.
Repayment optionsBoth Macquarie Bank's fixed and variable rate loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans.

How do I apply for a Macquarie Bank mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

Each Macquarie Bank product has specific eligibility criteria, but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Macquarie Bank you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 Property details. You can start a loan enquiry before you've bought a property, but to complete an application, you need the address of the property and a signed contract of sale.

📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (such as savings accounts and investments) and liabilities (for example, your outstanding debt).

How to apply for a home loan

Lenders like Macquarie Bank

If you're looking for a home loan from a similar lender to Macquarie Bank, you could look at the Big Four or some of Australia's other mid-sized lenders.

  • Big Four banks. Check out home loans from Australia's Big Four banks.
  • AMP. AMP is a large Australian lender and financial services provider.
  • Bank of Queensland. Another of Australia's larger lenders, with a wide selection of mortgages.
  • Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

More home loan questions

More guides on Finder

  • Macquarie Bank Basic Fixed Home Loan

    Waived application fees and yearly account maintenance charges make the Macquarie Bank Basic Fixed home loan one to think about, if you are in the market for a standard mortgage.

  • Macquarie Bank Basic Home Loan

    Macquarie's Basic Home Loan is the ideal, no-frills home loan for a straightforward purchase or a cash injection to finance construction, renovations and/or investments.

  • Macquarie Bank Offset Home Loan Package

    Learn more about the Macquarie Bank Offset Home Loan Package and benefit from many great features, a competitive interest rate and flexible loan structure that gives you more control over your mortgage repayments.

  • Macquarie Bank Offset Flyer Home Loan Package

    Compare the features and fees of Macquarie Bank's Offset Flyer Home Loan Package.

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