Macquarie borrowers will see the change applied from 2 April, 16 days after the RBA announcement.
That maintains the bank’s pattern of slower responses to monetary policy increases and faster responses to decreases, comparative to most of the big four banks.
Thus far, CommBank, ANZ, and NAB will increase variable home loan rates on 27 March, while Westpac remains the outlier, with its increase effective March 31.
A 25bp increase is expected to push Macquarie’s lowest advertised variable rate from 5.59% p.a. to 5.84% p.a.
For a borrower with a $600,000, 30‑year home loan, monthly repayments may rise by roughly $95.
“In February, many banks chose to pass on higher home loan rates in just days, while we took a different approach. We were the slowest of the major banks, waiting over two weeks so our customers had more time to adjust and plan their finances,” Macquarie head of personal banking Ben Perham said.
“We’re doing that again and want to remind customers that they can easily apply for financial assistance online, at a time that suits them, if they’re concerned about making their loan repayments or their circumstances have changed.”
The bank has also increased its fixed rates several times since late 2025, with the lowest fixed rate now sitting at 5.84% p.a. (5.64% p.a. comparison rate*) for select borrowers fixing for one‑year terms.
What could a rate hike mean for your wallet? Mortgage Repayment Calculator
Macquarie automatically recalculates minimum repayments when interest rates change, meaning customers will see their new repayment amount reflected after the effective date.
However, because interest accrues daily, borrowers may not notice the full impact of the change until after 2 April, when the higher daily rate comes into effect.
Borrowers paying above the minimum may not see an immediate change to their repayment amount, but a higher rate will mean a smaller portion of each repayment goes toward paying down the principal balance.
According to APRA, Macquarie is Australia’s fifth largest household lender with a total market share of approximately 6.9%.
Macquarie captured nearly a quarter (23%) of the mortgage market's $34.5 billion growth over the past year.
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Lender Home Loan Interest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option Tags Features Link Compare Promoted Product Disclosure
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Image created on Canva using assets courtesy of Danausi on Wikimedia Commons
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