Macquarie Bank vs ubank home loans June 2026
Macquarie Bank and ubank both have a lowest variable home loan rate of 6.09% p.a. right now, so the deciding factors are features and fees rather than the headline rate. Compare offset, redraw, any cashback, and the comparison rate, which folds in most fees, before you choose.
Macquarie Bank vs ubank at a glance
| Feature | Macquarie Bank | ubank |
|---|---|---|
| Lowest variable rate | 6.09% p.a. | 6.09% p.a. |
| Lowest 3-year fixed rate | 6.29% p.a. | 6.59% p.a. |
| Lowest comparison rate | 6.13% p.a. | 6.13% p.a. |
| Products tracked | 49 | 23 |
| Offset available | Yes | Yes |
| Cashback offer | — | — |
Macquarie Bank or ubank: which should you pick?
Macquarie Bank and ubank are line-ball on the lowest advertised variable rate today, both at 6.09% p.a. When the headline rate is the same, the decision comes down to which loan's features match how you actually use a home loan.
Both lenders offer an offset account, so if parking savings against your loan matters to you, neither rules itself out on that front.
The cheapest headline rate isn't always the rate a lender approves on your file. Your loan size, deposit and income all move the number, so the right pick between Macquarie Bank and ubank depends on your scenario, not just the advertised figure.
Not sure which one fits your scenario?
Advertised rates aren’t always the rate a lender approves. Get the sharper of the two negotiated against your specific numbers, at no cost.
Macquarie Bank vs ubank — frequently asked questions
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