Macquarie Bank to lower home loan rates following RBA decision
Macquarie Bank will cut its variable home loan rates on 23 May in response to the Reserve ...
20 May, 2025
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.19% p.a. | 5.81% p.a. | $2,742 | Principal & Interest | Fixed | $248 | $350 | 70% | |||||||||||||
5.19% p.a. | 5.54% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
5.19% p.a. | 5.77% p.a. | $2,742 | Principal & Interest | Fixed | $248 | $350 | 70% | |||||||||||||
5.19% p.a. | 5.58% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
5.29% p.a. | 5.64% p.a. | $2,773 | Principal & Interest | Fixed | $0 | $350 | 80% | |||||||||||||
5.29% p.a. | 5.86% p.a. | $2,773 | Principal & Interest | Fixed | $248 | $350 | 70% | |||||||||||||
5.29% p.a. | 5.87% p.a. | $2,773 | Principal & Interest | Fixed | $248 | $350 | 80% | |||||||||||||
5.29% p.a. | 5.83% p.a. | $2,773 | Principal & Interest | Fixed | $248 | $350 | 80% |
Important Information and Comparison Rate Warning
Macquarie Bank is perhaps best known as Australia's international bank but, over the past decade, Australia's 'fifth big bank' has staked its claim in the domestic home lending sector.
Macquarie now accounts for around six percent of the total home lending market, stamping itself as the fastest-growing bank lender in Australia.
According to recent data, Macquarie comfortably holds its position as Australia's fifth-largest home lender behind the big four, with its mortgage book surging by close to 20% in the 2024-25 financial year.
Around 94% of its home loans originated through brokers. Meanwhile, other banks are actively steering their home lending away from third-party channels.
For borrowers who choose to go direct, Macquarie is known for its slick technology and fast approval times.
You might find Macquarie a good fit if you:
-
Don't require in-branch service
Macquarie Bank's retail services are fully digital, operating via online and mobile platforms. It does not have a traditional retail banking branch network. -
Are looking for simple home loan products
Macquarie offers a Basic Home Loan and an Offset Home Loan. These can be tailored with variable, fixed, and split rate options. -
Have a loan-to-value ratio (LVR) 80% or lower
Macquarie has a focus on servicing lower LVR tiers and offers lower interest rates to those with larger deposits or equity. -
Want a competitive interest rate
Macquarie's home loans feature highly competitive rates, particularly for lower LVR home loans. -
Are looking for low fees
Macquarie's Basic Home Loan has no establishment or ongoing fees, no redraw fee, and no split fee. Its Offset Home loan demands an annual fee, but no redraw or split fees. -
Want a fast turnaround time
Once an application is completed, Macquarie says in most cases, it can provide pre-approval within one business day. Loan approval times depend on individual applications but are generally among the lowest turnaround times on the market. -
Are looking for flexibility
Macquarie Bank is happy to consider all loan structures including individual, company, and trust borrowers, the self-employed, or PAYG applicants. -
Value technology
The bank is renowned for its best-in-class technology platform, with a focus on security and user experience.
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