Are there any hidden fees with Macquarie Bank home loans?

While Macquarie Bank claims no hidden fees, borrowers have reported unexpected charges like break costs for early repayment on fixed-rate loans and a $400 discharge fee.

What are the break costs if I repay my fixed-rate loan early?

Break costs can apply if you repay your fixed-rate loan early. The exact amount depends on the remaining term and current interest rates, so it's best to contact Macquarie for a detailed calculation.

Why can’t I speak to a representative at Macquarie Bank?

Many customers report difficulty reaching representatives, often being directed to online chat instead. This is a common complaint, so patience and persistence may be required.

How much would I save by refinancing to Macquarie Bank?

Refinancing a $500,000 loan to Macquarie could save you $134 per month, totaling $48,094 over 30 years, compared to the market average.

What should I do if I experience a transaction delay with Macquarie Bank?

Macquarie has faced system outages causing delays. If this happens, monitor your account and contact customer service for updates and assistance.

Is it difficult to get a rate review with Macquarie Bank?

Many borrowers report challenges in securing rate reviews, even when market rates drop. Persistence and providing competitive offers from other lenders might help.

What is the monthly repayment for a $600,000 loan at 6.09% with Macquarie Bank?

For a $600,000 loan at 6.09% over 30 years, the monthly repayment is approximately $3,632, with a total interest of $707,554.

How do I discharge my mortgage with Macquarie Bank?

To discharge your mortgage, complete the Discharge Authority form and email it to clientservices@mortgageinfo.com.au. Ensure all parties to the loan sign the form. A $400 discharge fee applies.

Does Macquarie Bank offer any savings on application or annual fees?

Yes, Macquarie Bank doesn’t charge an application fee, saving you around $600 upfront, and there’s no annual fee, saving approximately $395 each year.

UPDATED JUL 16, 2026

Macquarie Bank Limited Home Loans: The 2026 Review

Competitive rates below market average with no hidden fees. Beware of high discharge fees and customer service issues. Ready to explore flexible loan options?

Bheja Verdict

Very Good

4.2/5

✓

Highly competitive rates across products

✓

Great features: redraw facility, extra repayments

Check Eligibility

Macquarie Bank Limited Home Loans At a Glance

🏷️Best Rate Available

6.09%

Fixed 3yr • Owner Occupied

💳Application Fee

Fee-free options available

📅Monthly Fee

Ongoing service fee

Loan Range:$150K - $10.0M

LVR:Up to 95%

Products:130 variations

Offset Account:Available

Current Macquarie Bank Limited Home Loan Rates

Last updated: July 2026

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Average Rate: 6.24%
Best Rate: 6.14%
Monthly Payment: $3,043

Advanced

Sort By

Macquarie Basic Home Loan
Macquarie Bank Limited
20%-30% DepositRedraw
6.14%
Interest Rate
Variable
6.16%
Comparison Rate*
$3,043
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge
$400+ other fees may apply
Macquarie Offset Home Loan
Macquarie Bank Limited
20%-30% DepositOffsetRedraw
6.14%
Interest Rate
Variable
6.39%
Comparison Rate*
$3,043
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Ongoing/year
$248
Discharge
$400+ other fees may apply
Macquarie Basic Home Loan
Macquarie Bank Limited
10%-20% DepositRedraw
6.34%
Interest Rate
Variable
6.36%
Comparison Rate*
$3,108
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge
$400+ other fees may apply
Macquarie Offset Home Loan
Macquarie Bank Limited
10%-20% DepositOffsetRedraw
6.34%
Interest Rate
Variable
6.59%
Comparison Rate*
$3,108
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Ongoing/year
$248
Discharge
$400+ other fees may apply

Macquarie Bank Limited Product Statistics

Real-time insights and market analysis

Macquarie Bank Limited offers 2 home loan products across 130 variations, the average variable rate is 6.43% p.a., the best available rate is 6.09% p.a..

Average Variable Rate

6.43%

30 products

Average Fixed Rate

6.54%

100 products

Best Available Rate

6.09%

3yr Fixed • Owner Occupied • P&I

Total Products

130 variations

Fee Summary

Application Fee

100% fee-free

Monthly Fee

Discharge Fee

$400

Late Payment Fee

Key Features

Across Macquarie Bank Limited's range: 65 include an offset account, 130 offer redraw, 130 allow extra repayments, 130 support split loans.

Offset Account

50%

Redraw Facility

100%

Extra Repayments

100%

Split Loan

100%

Product Ranges

Macquarie Bank Limited's interest rates range from 6.09% to 7.35% p.a., maximum LVR from 60% to 95%, loan amounts span $150,000 to $10,000,000.

Interest Rates6.09% — 7.35%

Max LVR60% — 95%

Loan Amount$150K — $10.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Macquarie Bank Limited Compares

FEATURE	Macquarie Bank Limited	Bank of Sydney	BOQ Specialist	ME Bank - ME Go	MOVE Bank
Best Variable Rate	6.09%	6.09%	8.02%	5.99%	5.99%
Best Fixed Rate (3yr)	6.09%BEST	—	—	6.49%	6.24%
Application Fee	$0BEST	$400	$0	$0	$600
Monthly Admin Fee	$0BEST	$10	$10	$0	$0
Offset Account
Redraw Facility
Product Variations	130	31	12	200	28

💡

Bheja Insight: Macquarie Bank Limited waives application fees, saving borrowers hundreds compared to other major banks.

About Macquarie Bank Limited

Company overview and contact information

Macquarie Bank Limited, established in 1969, is a major independent bank in Australia. Originally founded as Hill Samuel Australia Limited, it operates under the parent company Hill Samuel & Co. Limited. As an Authorized Deposit-taking Institution (ADI), Macquarie is regulated by the Australian Prudential Regulation Authority (APRA) and holds both an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL).

Macquarie offers a diverse range of home loan products with 131 variations, featuring competitive rates from 6.09% to 7.35%. Known for its flexible loan and repayment options, Macquarie caters to a wide array of customers seeking tailored financial solutions. Their home loans are accessible through both branches and online platforms, ensuring convenience and accessibility.

What sets Macquarie apart is its reputation for no ongoing fees and a streamlined online application process. These features, combined with their comprehensive product offerings, make them a strong contender in the home loan market. Their focus on flexibility and customer-centric services positions them as a preferred choice for many borrowers.

Company Details

Legal Name: Macquarie Bank Limited

ABN: 46008583542

ACN: 008583542

Established: 1969

Ownership: Independent

AFSL: 237502

Parent Company: Hill Samuel & Co. Limited

Key Features

Macquarie Bank Limited offers flexible home loan solutions with standout features like offset accounts and award-winning digital banking, designed to provide borrowers with financial flexibility and cost savings.

Redraw Facility

Macquarie Bank Limited allows borrowers to access additional payments made through the redraw facility. However, this feature is unavailable on fixed-rate loan accounts until after the fixed period expires, providing flexibility in managing extra funds.

Extra Repayments

Borrowers can make extra repayments on their home loans, with up to $10,000 per year allowed on fixed loans without penalty. This enables faster loan repayment and interest savings, though exceeding this limit may incur break costs.

Offset Accounts

Macquarie Bank Limited offers up to 10 offset transaction accounts per loan account, linked to variable rate loans. This feature can significantly reduce interest payments, with a $100,000 offset saving approximately $508 per month.

No Ongoing Fees

Macquarie's Basic Home Loan offers competitive rates with no annual fees, providing cost-effective borrowing options for homeowners seeking to minimise expenses.

Construction Loans

Borrowers can draw down their home loan in stages to fund renovations or new home builds, offering flexibility in managing construction costs and timelines.

Multiple Loan Accounts

Macquarie allows up to 6 loan accounts at settlement, with unlimited accounts post-settlement. Each account can be tailored with principal and interest or interest-only repayments, and variable or fixed rates for 1-5 years.

Flexible Repayment Options

Repayments can be made via Direct Debit, Salary Credit, or Electronic Funds Transfer, providing borrowers with convenient and flexible payment methods.

Online and Mobile Banking

Macquarie’s digital banking includes a mobile app and online platform with features like Pay Anyone, which offers a $100,000 daily limit with the Macquarie Authenticator App, enhancing convenience and security.

Guarantor Option

Subject to review, borrowers can nominate a guarantor during the loan origination process, potentially enhancing borrowing capacity and loan approval chances.

Fees & Charges

Macquarie Bank Limited offers a range of home loan products with a transparent fee structure, including no application fees and variable costs for certain services. Borrowers should be aware of potential break costs and discharge fees, especially for fixed-rate loans.

Fee Type

Amount

Description

Application Fee

No application fee is charged for home loans as a standard feature.

Documentation Fee

$350

Charged for preparing loan documents and arranging settlement.

Third Party Fees

Variable

Payable if the lender incurs a fee from any third party related to the loan agreement or security after settlement.

Annual Package Fee

$248/year

Covers up to 5 loan applications submitted within 6 months, with $124 charged every 6 months.

Mortgage Discharge Fee

$400

Payable upon requesting a full discharge of any mortgage, plus any third-party fees.

Break Cost

Variable

Applies for early repayment during fixed-rate periods or if changes are made to the loan terms.

Construction Administration Fee

$1,500

Charged for loans involving construction to cover administrative costs.

Low Deposit Fee

At cost for LVR >80%

Applicable for loans with a Loan-to-Value Ratio greater than 80%.

Special Attendance Fee

Variable

Charged if a special service is requested, such as consenting to a dealing with the mortgage property.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Macquarie Bank Limited offers home loans to individuals who meet specific age, residency, and financial criteria, ensuring a wide range of borrowers can access their competitive loan products.

Applicants must be at least 18 years old.

Applicants must be permanent residents of Australia.

Applicants must provide recent payslips or income statements to verify income.

Applicants must disclose all assets, liabilities, and living expenses.

Loan-to-Value Ratio (LVR) must be between 60% and 95%.

Loan amounts must range from $150,000 to $10,000,000.

Applicants must meet the bank's lending criteria, including credit history assessment.

Important Notes

Lenders Mortgage Insurance (LMI) may be required for loans with an LVR above 80%.
Special programs are available for first home buyers and professionals.
A mortgage discharge fee of $400 applies, and break costs may be payable if the loan is repaid early during a fixed rate period.

Macquarie Bank Limited Home Loan Pros & Cons

Our expert take on whether Macquarie Bank Limited is right for you

Pros

+Competitive interest rates below market average
+Flexible repayment options including extra repayments
+Award – winning digital banking features

Cons

–Poor customer service reviews
–High mortgage discharge fee
–Break costs for early repayment on fixed loans

Best For

Tech-savvy borrowers who value digital banking
Borrowers looking for competitive interest rates
Individuals who want flexible repayment options

Not Ideal For

Customers who prefer in-person banking
Borrowers who prioritize excellent customer service

💡

Bheja Verdict: Macquarie Bank offers competitive home loan rates with flexible features, but potential borrowers should be wary of customer service issues.

Expert Secrets (Why Use Us?)

Insider knowledge about Macquarie Bank Limited that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000.

2At 90% LVR, the LMI cost rises to $12,500 for the same loan amount.

3A 95% LVR on a $500,000 loan incurs an LMI of $21,000.

4A $750,000 loan at 85% LVR results in a $9,000 LMI cost.

Fee Waivers

No application fee for home loans, making it easier to start your borrowing journey.

Offset Benefits

A $10,000 offset account balance can save $51 per month, totaling $612 annually.

A $25,000 offset account balance can save $127 per month, totaling $1,524 annually.

A $50,000 offset account balance can save $254 per month, totaling $3,048 annually.

A $100,000 offset account balance can save $508 per month, totaling $6,096 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

6 Steps

Complete the Discharge Authority Form: Download and fill out the Discharge Authority form. Ensure all information is accurate and complete. (Tip: Double-check all details to avoid delays.)

Obtain All Required Signatures: Ensure that all parties involved in the loan have signed the form. (Tip: Coordinate with all signatories early to gather signatures promptly.)

Submit the Form: Email the completed and signed form to [email protected]. (Tip: Keep a copy of the email and form for your records.)

Pay the Discharge Fee: Ensure the $400 discharge fee is paid, along with any applicable third-party fees. (Tip: Contact customer service if you need clarification on the fee payment process.)

Book Settlement: Coordinate with your settlement agent to book the settlement date. (Tip: Confirm all details with your agent and lender to ensure a smooth process.)

Final Confirmation: Receive confirmation from Macquarie Bank that the discharge process is complete. (Tip: Follow up with the bank if you do not receive confirmation within the expected timeframe.)

Processing Times

Discharge Process10-14 business days

Required Documents

Discharge Authority form

💡

Pro Tips

Request the discharge at least 2 weeks before your desired settlement date to avoid delays.
Check for any break costs if repaying during a fixed rate period.
Ensure all signatures are obtained before submission to prevent processing delays.
Contact the service team at 1800 442 370 for any clarifications.
Keep a record of all communications and submissions for reference.

Macquarie Bank Limited Mortgage Calculator

Estimate your repayments using current Macquarie Bank Limited home loan rates

Over 30 years, borrowing $480,000 at 6.09%, total cost including interest and known fees could be around $1,046,793. Estimated monthly repayment: $2,905.68.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,046,793

Estimated repayment

$2,905.68

monthly repayment

Amount you borrow: $480,000 · At 6.09% · Fixed for 3 years, then may change

About $2,905.68 monthly repayment now — may change to about $2,905.68 later.

After a fixed period you may renegotiate, re-fix, or refinance with your bank.

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Document fee: $350
Discharge fee: $400
Total ongoing fees (30 yrs): $0

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $566,043
Upfront fees: $350
Ongoing fees: $0
Discharge fee: $400
Estimated total cost: $1,046,793

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Macquarie Bank Limited is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Macquarie Bank offers fast approval times, with conditional approval valid for 90 days. However, specific timelines can vary based on your application details.