- Macquarie Bank is Australia's fifth-largest home lender
- Its market share is the fastest growing of any mortgage lender
- Macquarie is noted for its advanced technology and fast loan turnaround times
In recent years, Macquarie Bank has shaken Australia's mortgage market, staking its claim as country's fifth-largest home lender and growing its loan book at a pace that leaves the big four in its wake.
As at July 2026, Macquarie has more than 7% of the home loan market, seeing 28% growth in its home lending business in just one year compared with big four annual growth rates of between 3-7%.
What makes Macquarie's home loans different?
While the big four aim to bring more of their home lending "in house", more than 95% of Macquarie's home loans originate through brokers.
It’s maintained a broad focus on attracting 'quality borrowers' and lower loan-to-value ratio (LVR) lending tiers (below 80% LVR).
Analysts broadly agree Macquarie's success in the market comes down to three main factors:
- competitive home loan rates and low fees
- market-leading technology
- rapid loan turnaround times
Macquarie Bank home loan interest rates
Here's a selection of Macquarie's current home loan products:
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $350 | 60% | |||||||||||||
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $350 | 70% | |||||||||||||
6.04% p.a. | 6.29% p.a. | $3,011 | Principal & Interest | Variable | $248 | $350 | 60% | |||||||||||||
6.04% p.a. | 6.29% p.a. | $3,011 | Principal & Interest | Variable | $248 | $350 | 70% | |||||||||||||
6.09% p.a. | 6.08% p.a. | $3,027 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
6.09% p.a. | 6.11% p.a. | $3,027 | Principal & Interest | Variable | $0 | $350 | 80% | |||||||||||||
6.09% p.a. | 6.30% p.a. | $3,027 | Principal & Interest | Fixed | $248 | $350 | 70% | |||||||||||||
6.09% p.a. | 6.34% p.a. | $3,027 | Principal & Interest | Variable | $248 | $350 | 80% | |||||||||||||
6.14% p.a. | 6.08% p.a. | $3,043 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
6.14% p.a. | 6.13% p.a. | $3,043 | Principal & Interest | Fixed | $0 | $350 | 80% |
What home loans does Macquarie Bank offer?
Macquarie Bank offers both variable and fixed rate home loans for owner occupiers and investors making either principal and interest (P&I) or interest only (IO) payments.
These flexible options are offered through Macquarie’s two home loan products:
Basic Home Loan
Macquarie’s Basic product comes with:
no ongoing fees
fee-free redraw
no fee to split into multiple loan accounts
Offset Home Loan
up to 10 offset accounts
no fee to redraw or split the loan into multiple accounts
annual fee applies (payable every six months)
Technology-led experience
"Macquarie has made significant investments over a number of years to its home loan origination process and an ongoing commitment to its broker channel.
"Customers tell us they love our market-leading turnaround times and that they value the digital features and functionality that we offer.
"Aside from great rates and a simple and intuitive banking experience, we know that security is a priority for our customers.
"With Macquarie, customers have access to Macquarie Authenticator, our market-leading verification app which provide actionable, real-time push notifications for transactions and account activity, meaning they can have peace of mind knowing they have control over their accounts."
Features of Macquarie Bank home loans
Low comparison rates
A key feature across Macquarie Bank’s home loan portfolio is that comparison rates vary only slightly from advertised rates. For borrowers, this implies there are few extra fees or other costs associated with the bank's home loans.
Fee-free
Selected home loan products across Macquarie Bank’s portfolio are free from establishment fees and/or monthly fees although Macquarie’s Offset product comes with an annual fee.
Offset accounts
Macquarie Bank’s Offset Home Loan package provides variable-rate borrowers with a flexible loan structure and competitive rates although offset accounts cannot be linked to fixed rate loan accounts. The offset package also waives fees for a Macquarie Black Card and Macquarie Platinum Card.
Redraw facility
Macquarie Bank may provide some variable rate borrowers with a redraw facility allowing them to access some, or all, of any additional payments they’ve made on the loan over the minimum monthly repayment amount. Redraw facilities are not available on fixed-rate loans although any extra payments can be accessed after the fixed-rate period ends.
Additional repayments
Macquarie Bank allows unlimited additional repayments to be made to variable interest rate loan accounts, effectively reducing the interest borrowers pay over the term of the loan. For fixed-rate loan accounts, additional repayments are limited to a maximum of $10,000 per year.
Macquarie Bank home loans: Pros & Cons
- Market-leading loan turnaround: Home loans can be approved in hours rather than days or weeks. Hard to beat where quick answers are imperative
- Competitive interest rates: Interest rates at the lower end of the market, particularly for borrowers with low LVRs
- No or low fees: Macquarie does not charge establishment or monthly fees for its Basic Home Loan. Fees are levied on the Offset Home Loan (every six months) which also comes with a fee-free credit card
- Multiple offset accounts: Up to 10 offset accounts can be linked to variable-rate offset home loans
- Highly-rated app: Macquarie Bank's app is regarded as the gold standard of Australia's banking apps
Cons
- No branch network: All banking must be done electronically without branch or face-to-face services. May not suit some borrowers
- Strict lending criteria: Macquarie has relatively inflexible eligibility criteria and prefers borrowers with strong credit scores and unblemished credit records
- No alt-doc or low-doc lending: Generally unwilling to consider outside-the-box applications, including self-employed applicants
- Offset comes with fees: As with many lenders, access to offset accounts comes with fees
Macquarie Bank Home Loans Review
Managing Director at Finch Financial Services Julian Finch says in his experience, Macquarie Bank is a great choice for borrowers.
"[Macquarie] is happy to look at all structures - individual, company and trust borrowers, self employed, or PAYG," he told Savings.com.au.
"It's also best in class for turnaround and efficiency, with great tech and great value for money."
Pros of Macquarie home loans
"Macquarie are the go-to lender for a first class technology platform - whatever it is you like on internet banking, Macquarie makes it better."
"Macquarie is also the benchmark in terms of time to approval - they can have you formally approved on the same day - our record is 53 minutes. If you fit their lending policy and are a borrower that is well organised, you can have the deal done in less than a day!"
"Macquarie Bank is the primary institution for any borrower that fits into their lending appetite."
Cons of Macquarie home loans
"If you don't fit their lending criteria they are pretty inflexible…it's [often] a swift and firm no, but at least they don't keep you hanging."
"If you have a blemish on your credit file or you have large amounts of unsecured debt, this might not be the lender for you."
"As an investor, they might have lower servicing than some other well-known brands."
Home loan eligibility criteria
18 years old or over
Australian citizen, or permanent or temporary resident
Australian tax resident living in Australia
have an Australian mobile number
have income from an employer (PAYG) or self-employed
a single applicant or with a co-borrower
applying for a residential loan