Macquarie Bank home loan review
Macquarie Bank is an established Australian lender, and Ratesniffers tracks 50 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 6.04% p.a., and its lowest fixed rate is 6.14% p.a. That sits about 15 basis points below the market median of 6.19% p.a., putting it among the more competitive lenders right now.
Is Macquarie Bank a good home loan lender?
Macquarie Bank suits borrowers with a clean application and solid equity who are content with two products and no branch. Ratesniffers checked its published product and fee pages on 2 Sept 2026. The trade-off is reach: the Offset Home Loan costs $248 a year, loans start at $150,000, and published tiers stop at 90% LVR.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 2 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Macquarie Bank home loan interest rates by term
The lowest owner-occupier, principal and interest rate Macquarie Bank has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| Variable | 6.04% p.a. | Not available |
| 1-year fixed | 6.39% p.a. | Not available |
| 2-year fixed | 6.19% p.a. | 6.34% p.a. |
| 3-year fixed | 6.14% p.a. | 6.27% p.a. |
The case for
- Its sharpest variable rate sits below the market median of 6.19% p.a. in the rate snapshot on this page.
- Both loans carry a $0 application fee and a $0 monthly account fee, and the Basic Home Loan also carries a $0 annual fee.
- The Offset Home Loan links up to 10 offset accounts per variable rate loan account, or four at application for company or trust borrowers.
- Either facility can be split across fixed and variable accounts and separated by owner occupied or investment purpose and repayment type.
- Macquarie says it can usually provide pre approval within one business day where an application qualifies, valid for 90 days, with online pre approval taking as little as 15 minutes.
- Fixed terms run from one to five years on both products, loans run from $150,000 to $10,000,000, and interest only is available for up to 5 years on variable rate loans.
What to weigh up
- The Offset Home Loan charges a $248 annual fee in two six monthly instalments, and both products list a $350 documentation fee.
- Loans start at $150,000, so a smaller balance sits outside the range.
- Offset accounts link only to variable portions and at least $20,000 must stay on a variable rate, so an Offset Home Loan cannot be fully fixed, and redraw is not available during a fixed period.
- Published LVR tiers stop at 90% on principal and interest variable and fixed loans, which points to a minimum 10% deposit.
- Macquarie's own home loan pages do not mention the Australian Government 5% Deposit Scheme, so Ratesniffers makes no claim about participation, and Macquarie runs no branch network for home lending.
Who Macquarie Bank suits and who it does not
Macquarie tends to suit refinancers and buyers with a clean application, a deposit or equity of 20% or more and a loan of at least $150,000, who want a fast digital process and are content with a two product range. It suits less well for a small deposit, since published tiers stop at 90% LVR, for a loan under $150,000, for anyone who needs a branch, or for a borrower who wants a fully fixed loan with an offset, since at least $20,000 has to stay variable for the offset to work.
Macquarie Bank home loans: our verdict
Macquarie Bank is a credible choice whose lowest variable rate of 6.04% p.a. currently sits about 15 basis points below the market median, which is competitive today (last updated 24 Sept 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.
Sources checked 2 Sept 2026: Macquarie, Home loans; Macquarie, Compare home loans; Macquarie, New home loans; Macquarie, Investor home loans. Fees and product terms change, so confirm them with Macquarie Bank before applying.
See if you can do better than Macquarie Bank
The advertised rate isn't always the rate you'll be approved for. Compare Macquarie Bank against the wider panel, or have your scenario negotiated, at no cost.