Earn a competitive 0.35% 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.
The Macquarie Bank Term Deposit is open to businesses, trusts and partnerships as well as personal applicants.
Up to 0.45% p.a.
Interest rate
9 months interest rate
$5,000
Minimum opening deposit
$0
Account keeping fee
$1,000,000
Maximum deposit
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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.
Minimum Age Requirement
18
Joint account availability
Yes
Min Deposit
$5,000
Available to children
Not available for children
Pros
Earn a fixed interest rate up to 0.45% p.a.
Available for personal use as well as SMSFs, businesses and trusts
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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.
Tiered interest rates up to 0.4% p.a.
A 1-month term deposit gets a rate of 0.05% p.a., and the interest rate gradually increases with the investment term. If you opt for a 5-year term deposit you'll lock in a fixed interest rate of 0.4% p.a.
Choose when to receive interest
Choose between receiving your interest payments every month, quarter, half-yearly, annually or when the term deposit matures. The type of interest payment you can opt to receive depends on the term deposit period. Interest can be paid to a nominated bank account or reinvested back into the term deposit.
Automatic roll-over at maturity
Your investment is automatically renewed by Macquarie Bank at the end of your term unless you contact the bank to state otherwise. The new term deposit rate may be lower or higher than the rate offered on your first investment. You're able to make changes to your account for five days after your funds have rolled over to a new term deposit; this is known as the "grace period".
Minimum deposit of $5,000
The minimum deposit is $5,000 and the maximum deposit is $1,000,000.
Direct debit available
You can deposit funds into the Macquarie Bank Term Deposit by direct debit from an account held with Macquarie Bank or another financial institution.
31-day notice period for withdrawals
You cannot withdraw the money to a third party account and the funds cannot be issued as a cheque. You must provide 31 days' notice to Macquarie Bank if you want to withdraw your money before the investment matures. If you wish to close your account before it matures, you may be liable to pay interest charges to Macquarie Bank (interest adjustment).
Online access
View your term deposit balance online by registering for the Macquarie Bank Internet banking facility, or via mobile banking using the Macquarie Bank mobile app.
Receive regular statements
Term deposit statements are issued every six months. You will also receive a statement at term deposit maturity. Your statement outlines details of your investment including the balance of the account and account transactions.
Availability
You can apply for this account in your own name, as a joint application or you can open this investment in the name of a business or trust.
Government guarantee
Deposits up to $250,000 are guaranteed by the government.
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.
Deposit. You must deposit $5,000 or more when you open the Macquarie Bank Term Deposit.
Documentation needed
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.
Personal details. You'll be asked to supply your full name, date of birth, email address and contact phone number.
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.
What happens after I submit my application?
Macquarie Bank will send your account details to your nominated mailing address or email address once you've applied and have been approved for the term deposit.
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 ?
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.
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.
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!
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
