Macquarie Bank Home Loans & Rates Comparison

RATE OF THE DAY

Variable

5.84%

Comparison Rate*

5.86%

Could you be saving money on your mortgage?

Macquarie Bank's best home loan rates

Compare some of Macquarie's best variable and fixed home loan rates for owner occupiers and investors.

Lender

Variable

1-Year Fixed

2-Year Fixed

3-Year Fixed

4-Year Fixed

5-Year Fixed

5.84%

Interest Rate

5.86%

Comparison Rate

6.44%

Interest Rate

5.92%

Comparison Rate

6.54%

Interest Rate

6.00%

Comparison Rate

6.59%

Interest Rate

6.08%

Comparison Rate

6.64%

Interest Rate

6.15%

Comparison Rate

6.74%

Interest Rate

6.26%

Comparison Rate

Owner occupier loans with principal and interest repayments. Rates assume 60% LVR.

Lender

Variable

1-Year Fixed

2-Year Fixed

3-Year Fixed

4-Year Fixed

5-Year Fixed

5.94%

Interest Rate

6.96%

Comparison Rate

6.59%

Interest Rate

6.08%

Comparison Rate

6.69%

Interest Rate

6.15%

Comparison Rate

6.74%

Interest Rate

6.23%

Comparison Rate

6.79%

Interest Rate

6.30%

Comparison Rate

6.89%

Interest Rate

6.41%

Comparison Rate

Investment loans with principal and interest repayments. Rates assume 60% LVR.

Macquarie Bank variable home loan rates

Macquarie Bank has two variable rate home loans which offer different levels of inclusions and LVR options.

Basic Home Loan

This variable rate loan has low interest rates and no ongoing fees. There’s no offset account, but borrowers can redraw extra repayments at no extra fee.

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	5.84% p.a.	5.86% p.a.	60%
Home Loan	5.84% p.a.	5.86% p.a.	70%
Home Loan	5.89% p.a.	5.91% p.a.	80%
Home Loan	6.09% p.a.	6.11% p.a.	90%
Home Loan	6.89% p.a.	6.92% p.a.	95%

The Basic Home Loan has lower fees than Macquarie Bank’s other loans, with the only standard fee to consider being:

$350 documentation fee

Offset Home Loan

Macquarie Bank’s Offset Home Loan is their more comprehensive variable rate loan, with up to 10 offset accounts available, redraw capacity, plus an interest-only option (higher rates apply).

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	5.84% p.a.	6.09% p.a.	60%
Home Loan	5.84% p.a.	6.09% p.a.	70%
Home Loan	5.89% p.a.	6.14% p.a.	80%
Home Loan	6.09% p.a.	6.34% p.a.	90%
Home Loan	6.89% p.a.	7.13% p.a.	95%

The main fees for Macquarie’s Offset Home Loan include:

$248 annual fee
$350 documentation fee

Macquarie Bank’s fixed home loan rates

Macquarie Bank offers two fixed rate home loan options: their basic model and a fixed rate loan with offset. Fixed durations are available for up to five years with LVR bands up to 95% available.

Basic Fixed Home Loan

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.44% p.a.	5.92% p.a.	70%
Home Loan - 1 Year Fixed	6.49% p.a.	5.97% p.a.	80%
Home Loan - 1 Year Fixed	7.49% p.a.	6.98% p.a.	95%
Home Loan - 2 Year Fixed	6.54% p.a.	6.00% p.a.	70%
Home Loan - 2 Year Fixed	6.59% p.a.	6.05% p.a.	80%
Home Loan - 2 Year Fixed	7.59% p.a.	7.06% p.a.	95%
Home Loan - 3 Year Fixed	6.59% p.a.	6.08% p.a.	70%
Home Loan - 3 Year Fixed	6.64% p.a.	6.13% p.a.	80%
Home Loan - 3 Year Fixed	7.64% p.a.	7.14% p.a.	95%
Home Loan - 4 Year Fixed	6.64% p.a.	6.15% p.a.	70%
Home Loan - 4 Year Fixed	6.69% p.a.	6.20% p.a.	80%
Home Loan - 4 Year Fixed	7.69% p.a.	7.22% p.a.	95%
Home Loan - 5 Year Fixed	6.74% p.a.	6.26% p.a.	70%
Home Loan - 5 Year Fixed	6.79% p.a.	6.31% p.a.	80%
Home Loan - 5 Year Fixed	7.79% p.a.	7.32% p.a.	95%

The main fee for Macquarie Bank’s Fixed Rate Home Loan include:

$350 documentation fee

Fixed Home Loan with Offset

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.44% p.a.	6.15% p.a.	70%
Home Loan - 1 Year Fixed	6.49% p.a.	6.20% p.a.	80%
Home Loan - 1 Year Fixed	7.49% p.a.	7.20% p.a.	95%
Home Loan - 2 Year Fixed	6.54% p.a.	6.23% p.a.	70%
Home Loan - 2 Year Fixed	6.59% p.a.	6.28% p.a.	80%
Home Loan - 2 Year Fixed	7.59% p.a.	7.27% p.a.	95%
Home Loan - 3 Year Fixed	6.59% p.a.	6.30% p.a.	70%
Home Loan - 3 Year Fixed	6.64% p.a.	6.35% p.a.	80%
Home Loan - 3 Year Fixed	7.64% p.a.	7.35% p.a.	95%
Home Loan - 4 Year Fixed	6.64% p.a.	6.38% p.a.	70%
Home Loan - 4 Year Fixed	6.69% p.a.	6.43% p.a.	80%
Home Loan - 4 Year Fixed	7.69% p.a.	7.43% p.a.	95%
Home Loan - 5 Year Fixed	6.74% p.a.	6.48% p.a.	70%
Home Loan - 5 Year Fixed	6.79% p.a.	6.53% p.a.	80%
Home Loan - 5 Year Fixed	7.79% p.a.	7.54% p.a.	95%

The main fees for Macquarie Bank’s Fixed Rate Home Loan include:

$248 annual fee
$350 documentation fee

Macquarie Bank’s variable investment home loan rates

Macquarie Bank offers the same suite of variable home loans to investors with different rates.

Variable Basic Home Loan - investment

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	5.94% p.a.	6.96% p.a.	60%
Home Loan	5.99% p.a.	6.01% p.a.	70%
Home Loan	6.04% p.a.	6.06% p.a.	80%
Home Loan	6.90% p.a.	6.93% p.a.	90%

Variable Offset Home Loan - investment

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	5.94% p.a.	6.19% p.a.	60%
Home Loan	5.99% p.a.	6.24% p.a.	70%
Home Loan	6.04% p.a.	6.29% p.a.	80%
Home Loan	6.90% p.a.	7.14% p.a.	90%

Macquarie Bank’s fixed investment home loan rates

Fixed Rate Basic Home Loan - investment

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.59% p.a.	6.08% p.a.	70%
Home Loan - 1 Year Fixed	6.64% p.a.	6.13% p.a.	80%
Home Loan - 1 Year Fixed	7.50% p.a.	6.99% p.a.	90%
Home Loan - 2 Year Fixed	6.69% p.a.	6.15% p.a.	70%
Home Loan - 2 Year Fixed	6.74% p.a.	6.20% p.a.	80%
Home Loan - 2 Year Fixed	7.60% p.a.	7.07% p.a.	90%
Home Loan - 3 Year Fixed	6.74% p.a.	6.23% p.a.	70%
Home Loan - 3 Year Fixed	6.79% p.a.	6.28% p.a.	80%
Home Loan - 3 Year Fixed	7.65% p.a.	7.15% p.a.	90%
Home Loan - 4 Year Fixed	6.79% p.a.	6.30% p.a.	70%
Home Loan - 4 Year Fixed	6.84% p.a.	6.36% p.a.	80%
Home Loan - 4 Year Fixed	7.70% p.a.	7.23% p.a.	90%
Home Loan - 5 Year Fixed	6.89% p.a.	6.41% p.a.	70%
Home Loan - 5 Year Fixed	6.94% p.a.	6.46% p.a.	80%
Home Loan - 5 Year Fixed	7.80% p.a.	7.33% p.a.	90%

Variable Offset Home Loan - investment

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.59% p.a.	6.30% p.a.	70%
Home Loan - 1 Year Fixed	6.64% p.a.	6.35% p.a.	80%
Home Loan - 1 Year Fixed	7.50% p.a.	7.21% p.a.	90%
Home Loan - 2 Year Fixed	6.69% p.a.	6.38% p.a.	70%
Home Loan - 2 Year Fixed	6.74% p.a.	6.43% p.a.	80%
Home Loan - 2 Year Fixed	7.60% p.a.	7.28% p.a.	90%
Home Loan - 3 Year Fixed	6.74% p.a.	6.45% p.a.	70%
Home Loan - 3 Year Fixed	6.79% p.a.	6.50% p.a.	80%
Home Loan - 3 Year Fixed	7.65% p.a.	7.36% p.a.	90%
Home Loan - 4 Year Fixed	6.79% p.a.	6.53% p.a.	70%
Home Loan - 4 Year Fixed	6.84% p.a.	6.58% p.a.	80%
Home Loan - 4 Year Fixed	7.70% p.a.	7.44% p.a.	90%
Home Loan - 5 Year Fixed	6.89% p.a.	6.63% p.a.	70%
Home Loan - 5 Year Fixed	6.94% p.a.	6.68% p.a.	80%
Home Loan - 5 Year Fixed	7.80% p.a.	7.55% p.a.	90%

Macquarie Bank’s variable interest-only home loan rates for owner occupier

Variable Basic Home Loan - interest-only

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	6.15% p.a.	6.17% p.a.	60%
Home Loan	6.19% p.a.	6.21% p.a.	70%
Home Loan	6.29% p.a.	6.31% p.a.	80%

Variable Offset Home Loan - interest-only

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	6.15% p.a.	6.40% p.a.	60%
Home Loan	6.19% p.a.	6.44% p.a.	70%
Home Loan	6.29% p.a.	6.54% p.a.	80%

Macquarie Bank’s fixed interest-only home loan rates for owner occupiers

Fixed Basic Home Loan - interest-only

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.79% p.a.	6.28% p.a.	70%
Home Loan - 1 Year Fixed	6.89% p.a.	6.38% p.a.	80%
Home Loan - 2 Year Fixed	6.89% p.a.	6.35% p.a.	70%
Home Loan - 2 Year Fixed	6.99% p.a.	6.45% p.a.	80%
Home Loan - 3 Year Fixed	6.94% p.a.	6.43% p.a.	70%
Home Loan - 3 Year Fixed	7.04% p.a.	6.53% p.a.	80%
Home Loan - 4 Year Fixed	6.99% p.a.	6.51% p.a.	70%
Home Loan - 4 Year Fixed	7.09% p.a.	6.61% p.a.	80%
Home Loan - 5 Year Fixed	7.09% p.a.	6.61% p.a.	70%
Home Loan - 5 Year Fixed	7.19% p.a.	6.71% p.a.	80%

Fixed Offset Home Loan - interest-only

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.79% p.a.	6.50% p.a.	70%
Home Loan - 1 Year Fixed	6.89% p.a.	6.60% p.a.	80%
Home Loan - 2 Year Fixed	6.89% p.a.	6.58% p.a.	70%
Home Loan - 2 Year Fixed	6.99% p.a.	6.68% p.a.	80%
Home Loan - 3 Year Fixed	6.94% p.a.	6.65% p.a.	70%
Home Loan - 3 Year Fixed	7.04% p.a.	6.75% p.a.	80%
Home Loan - 4 Year Fixed	6.99% p.a.	6.73% p.a.	70%
Home Loan - 4 Year Fixed	7.09% p.a.	6.83% p.a.	80%
Home Loan - 5 Year Fixed	7.09% p.a.	6.83% p.a.	70%
Home Loan - 5 Year Fixed	7.19% p.a.	6.93% p.a.	80%

Macquarie Bank’s variable interest-only home loan rates for investors

Variable Basic Home Loan - investment (interest-only)

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	6.15% p.a.	6.17% p.a.	60%
Home Loan	6.19% p.a.	6.21% p.a.	70%
Home Loan	6.29% p.a.	6.31% p.a.	80%

Variable Offset Home Loan - investment (interest-only)

Product	Interest rate	Comparison rate*	Max LVR
Home Loan	6.15% p.a.	6.40% p.a.	60%
Home Loan	6.19% p.a.	6.44% p.a.	70%
Home Loan	6.29% p.a.	6.54% p.a.	80%

Macquarie Bank’s fixed interest-only home loan rates for investors

Fixed Basic Home Loan - investment (interest-only)

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.79% p.a.	6.28% p.a.	70%
Home Loan - 1 Year Fixed	6.89% p.a.	6.38% p.a.	80%
Home Loan - 2 Year Fixed	6.89% p.a.	6.35% p.a.	70%
Home Loan - 2 Year Fixed	6.99% p.a.	6.45% p.a.	80%
Home Loan - 3 Year Fixed	6.94% p.a.	6.43% p.a.	70%
Home Loan - 3 Year Fixed	7.04% p.a.	6.53% p.a.	80%
Home Loan - 4 Year Fixed	6.99% p.a.	6.51% p.a.	70%
Home Loan - 4 Year Fixed	7.09% p.a.	6.61% p.a.	80%
Home Loan - 5 Year Fixed	7.09% p.a.	6.61% p.a.	70%
Home Loan - 5 Year Fixed	7.19% p.a.	6.71% p.a.	80%

Fixed Offset Home Loan - investment (interest-only)

Product	Interest rate	Comparison rate*	Max LVR
Home Loan - 1 Year Fixed	6.79% p.a.	6.50% p.a.	70%
Home Loan - 1 Year Fixed	6.89% p.a.	6.60% p.a.	80%
Home Loan - 2 Year Fixed	6.89% p.a.	6.58% p.a.	70%
Home Loan - 2 Year Fixed	6.99% p.a.	6.68% p.a.	80%
Home Loan - 3 Year Fixed	6.94% p.a.	6.65% p.a.	70%
Home Loan - 3 Year Fixed	7.04% p.a.	6.75% p.a.	80%
Home Loan - 4 Year Fixed	6.99% p.a.	6.73% p.a.	70%
Home Loan - 4 Year Fixed	7.09% p.a.	6.83% p.a.	80%
Home Loan - 5 Year Fixed	7.09% p.a.	6.83% p.a.	70%
Home Loan - 5 Year Fixed	7.19% p.a.	6.93% p.a.	80%

How competitive are Macquarie Bank’s home loan rates?

Macquarie’s home loan rates are fairly competitive when it comes to their variable rate options, but currently they’re less competitive for fixed rate loans. Both their basic and offset variable rate loans offer the same interest rates (varying by LVR tier), with the main difference between them being the fees charged. In other words, comparing Macquarie Bank’s home loans just on interest rate won’t give you the full picture.

The fixed interest rates offered by Macquarie Bank are higher than the equivalent loans from Australia’s big four banks. This is likely due to the rising interest rate environment and predictions for more cash rate hikes this year. It’s possible that Macquarie’s strategy is to attract borrowers with comparatively low variable interest rates.

Macquarie’s overall position in the home loan market is decent, especially for their variable rate options. Yet, it's worthwhile looking around at smaller lenders that tend to have sharper rates.

Compare Macquarie's home loan rates to the other major lenders:

What are Macquarie Bank’s lowest home loan rates?

The lowest rate currently available from Macquarie Bank is from their variable rate home loans, both the basic and offset plans have the same fairly low interest rate.

If you’re after Macquarie’s lowest fixed rate home loan, that’s currently seen in their one-year fixed term for owner occupiers with an LVR band up to 70%, with basic and offset options available.

Shopping home loan rates beyond the big banks?

Non-major banks

Think ING, HSBC, Bendigo, Suncorp Bank etc. In terms of products and processes, these will be very similar to the big 4 banks who lead the trends in banking in Australia. But non-major banks often have lower rates and special offers (e.g. refinance cashback) in order to be competitive versus the bigger lenders. The non-major banks are still well-known brands with high-quality online tools systems.

Customer-owned

There are dozens of small member-owned banks and credit unions in Australia. Many are focussed on customers in a particular regional area, or even workers in a certain profession. These lenders often have the lowest rates in the market and personalised customer service, but the eligibility criteria may be more limited and the application process can be slow.

Non-bank lenders

Australian borrowers also have plenty of choice among non-bank home loan providers. Some are mainstream lenders (often online only) offering loans to your typical home loan borrowers. Others specialise in offering loans to cater for specific borrowers and scenarios, such as self-employed borrowers, bad credit borrowers or SMSF loans.

Macquarie Bank home loan FAQs

Should I get my home loan from Macquarie Bank?

Macquarie Bank is Australia’s largest mortgage lender outside of the big four banks (Commbank, Westpac, ANZ and NAB) and has been rapidly growing within the sector for the past few years.

Its increasing popularity means that it now boasts a similar level of brand-name recognition and sense of reliability as the big four banks. However, Macquarie is primarily a digital-first bank, which means that it doesn’t operate any retail branches for face-to-face banking. This can be a down-side for borrowers who are after more direct interaction and assistance from their lender.

But should you bank with Macquarie for your home loan? It depends on your particular situation and whether you are happy to pay a slightly higher rate versus what’s available with lesser-known brands. Either way, it’s important to compare Macquarie’s home loans against as many other options as possible from other lenders, both big and small, to see if it’s really the right choice for you.

Is Macquarie Bank increasing its home loan rates in 2026?

Yes, Macquarie Bank has already increased their home loan rates in 2026 in line with the hikes to the Reserve Bank’s cash rate.

If you're a current Macquarie bank home loan borrower, it could be worthwhile checking how their rates currently compare to other lenders, as the market has likely changed since you’ve taken out the loan. Of course, most lenders have raised their rates, but it is possible that you may find a better option, particularly if it’s been a while since your last comparison.

What’s the best Macquarie Bank home loan?

When it comes to choosing a home loan it’s important to consider the particular features that you're after. Macquarie’s variable home loans have the same fairly low interest rates, with the 60% and below LVR band offering the best value. This interest rate is available on the basic plan that has no ongoing fees, as well as the offset model that has a $248 annual fee but saves money by offsetting funds against the interest.

How do I apply for a Macquarie Bank home loan?

You can apply for a home loan at Macquarie Bank almost entirely online within approximately one hour.

The application starts with a check of your personal details and eligibility, which include being 18 years old or over, an Australian citizen or a permanent or temporary resident and having an Australian mobile phone number. The next step is picking which home loan option is the best for you and talking with a home loan expert for a 15-30 minute phone call to review the information.

It will then take about 1-2 business days for the Macquarie Bank credit team to assess your application. If approved, the contract will be issued online to complete and sign digitally.

Does Macquarie Bank offer home loans as part of the Home Guarantee Scheme?

No, Macquarie Bank is not a participating lender in the Australian Government’s 5% Deposit Scheme. If you are a first home buyer looking to take advantage of this initiative it’s worthwhile checking the government’s first home buyers website for suitable lenders.

Can I get an offset account on a Macquarie Bank home loan?

Yes, offset accounts are available for Macquarie Bank’s fixed and variable rate home loans, which have a $248 annual fee. Borrowers can get up to 10 offsets to lower the interest accumulating on the loan.

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