The Finder app is here! 🥳

Get your savings sorted.

Macquarie Bank Term Deposit

Last updated:  

Earn a competitive 1.05% p.a. on a 3-month term deposit with Macquarie Bank.

The Macquarie Bank Term Deposit is a fixed investment for periods of one month to five years. Lock your funds away for a period of time that suits you and enjoy a fixed interest rate for the life of your term.

Up to 1.25% p.a.

Interest rate

60 months interest rate

$5,000

Minimum opening deposit

$0

Account keeping fee

$1,000,000

Maximum deposit

Details

Product NameMacquarie Bank Term Deposit
3 month interest rate1.05%
4 month interest rate1.05%
6 month interest rate1.05%
9 month interest rate1.05%
12 month interest rate1.10%
24 month interest rate1.15%
36 month interest rate1.20%
48 month interest rate1.20%
60 month interest rate1.25%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

No fees

Pay no fees to open a Macquarie Bank Term Deposit and pay no monthly account keeping fees.

Terms from 1 month to 5 years

Choose terms ranging from as little as one month to five years. Typically, the longer you lock your money away the more competitive the interest rate is.

Launch term deposit calculator


How to apply

You can apply for this term deposit online in your own name, jointly, in the name of a trust or a self-managed super fund, a company or a business. If you're a new customer, you'll need to verify your identity with Macquarie Bank. The identity verification process can be completed online.

Eligibility

Before beginning the application process online, make sure you meet the account eligibility criteria and have the necessary documents handy.

  • Age. You must be over the age of 18.
  • Residency. You must be an Australian resident with an Australian residential address.

Ask an expert

To ask a question simply log in via your email or Facebook or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

6 Comments

  1. Default Gravatar
    Graham
    August 23, 2019

    We are looking to discontinue 2 of our term deposits early and understand the consequences of doing such. Can you please advise how long after you receive a formal request for such, would Macquarie pay these term deposits into our nominated bank account ?

    • Default Gravatar
      Nikki
      August 23, 2019

      Hi Graham,

      Thanks for reaching out. Please see responses to your questions below:

      Can you please advise how long after you receive a formal request for such?

      You must provide 31 days’ notice to Macquarie Bank if you want to withdraw your money before the investment matures. Day 1 will be the time when you informed Macquarie that you want to close your account. In cases of Hardship, you may only close your Account and withdraw funds in full. If you have less than 31 days remaining on your term, the earliest you can access your funds is the day after the maturity date. Partial withdrawal of your funds prior to closing your account is not permitted.

      If you wish to close your account before it matures, you may be liable to pay interest charges to Macquarie Bank (interest adjustment)

      Would Macquarie pay these term deposits into our nominated bank account?

      Yes, withdrawn funds will be transferred to your nominated account. The nominated bank account must be held in the same name as the name of the account. You cannot withdraw the money to a third party account and the funds cannot be issued as a cheque.

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    Gerry
    March 5, 2019

    Hi looking to invest $150,000 in a term deposit for 2 months
    Cheers

    • Default Gravatar
      Nikki
      March 6, 2019

      Hi Gerry,

      Thanks for getting in touch with finder! That’s great to hear! You can apply for this term deposit online in your own name, jointly, in the name of a trust or a self-managed super fund, a company or a business. If you’re a new customer, you’ll need to verify your identity with Macquarie Bank. The identity verification process can be completed online.

      Before beginning the application process online, make sure you meet the account eligibility criteria and have the necessary documents handy.

      Eligibility criteria
      1. Age. You must be over the age of 18.
      2. Residency. You must be an Australian resident with an Australian residential address.
      3. Deposit. You must deposit $10,000 or more when you open the Macquarie Bank Term Deposit.

      Documentation needed
      1. Identification. Have your passport, driver’s licence or proof of age card handy when you apply so you can complete the online identity verification process.
      2. Personal details. You’ll be asked to supply your full name, date of birth, email address and contact phone number.
      3. Tax file number. Enter your tax file number (TFN) or TFN exemption when you apply so Macquarie Bank can tax your interest earnings at the correct rate. If you fail to provide this information, Macquarie Bank will deduct tax from your interest earnings at the top marginal rate.

      Don’t forget to review the terms and conditions of the account before applying and contact the bank should you have any questions. Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  3. Default Gravatar
    fixed
    December 20, 2018

    I want to deposit $500,000 for a term of six month.

    Who should I contact to achieve this?

    • Default Gravatar
      Nikki
      December 20, 2018

      Hi Cris,

      Thanks for getting in touch! To deposit an amount for a 6month term deposit, you may contact Macquarie customer service and you can find their contact details on their website. As a friendly reminder, review the eligibility criteria of the account and read up on the terms and conditions of the account. Contact the bank should you need any clarifications about the card. Hope this helps!

      Best,
      Nikki

Ask a question
Go to site