Macquarie Bank Limited Home Loans: The 2026 Review

Macquarie Bank Limited was established in 1985 following the restructure of Hill Samuel Australia Limited. Founded in Sydney, New South Wales, the bank quickly positioned itself as a significant entity in the Australian financial landscape. It is part of the Macquarie Group, a global financial services provider listed on the Australian Securities Exchange, known for its innovative and forward-thinking approach.

Today, Macquarie Bank is recognised as a major player in the Australian banking sector, primarily operating through digital channels. Its robust online presence caters to tech-savvy customers, offering competitive interest rates and efficient loan processing. The bank differentiates itself from the traditional Big 4 banks by focusing on digital innovation and customer-centric services.

Macquarie Bank targets customers who value efficient online services and technological advancements. With its headquarters in Sydney, the bank serves a wide range of clients across Australia. It offers unique home loan features such as redraw facilities and flexible repayment options, appealing to borrowers seeking modern banking solutions. However, fixed loan customers should be aware of the $10,000 annual cap on extra repayments without penalties.

• Legal Name: Macquarie Bank Limited
• ABN: 46008583542
• ACN: 008583542
• Established: 1985
• Headquarters: Sydney, New South Wales
• Type: Limited
• Ownership: Independent

• Website: https://www.macquarie.com.au

Macquarie Bank Limited offers a range of flexible home loan features designed to enhance borrower convenience and financial control, with a strong emphasis on digital banking solutions and competitive terms.

• Redraw Facility: The redraw facility allows borrowers to access additional payments made on variable rate loans, providing financial flexibility. However, it is not available on fixed rate loans until the fixed period ends, ensuring borrowers can manage their funds effectively.
• Extra Repayments: Borrowers can make extra repayments up to $10,000 annually on fixed loans without incurring penalties. This feature enables borrowers to reduce their loan balance faster, potentially saving on interest costs over the loan term.
• Online and Mobile Banking: Macquarie Bank's online banking and mobile app provide convenient access to account management, with a Pay Anyone feature offering a $100,000 daily limit for authenticated users. This enhances transaction flexibility and ease of use for tech-savvy customers.
• Guarantor Option: During the loan origination process, borrowers can nominate a guarantor, subject to review. This option can help enhance loan eligibility, providing additional security and potentially better loan terms for borrowers.
• Multiple Loan Accounts: Borrowers can have up to 6 loan accounts with options for principal and interest or interest-only repayments, and variable or fixed rates for 1-5 years. This flexibility allows borrowers to tailor their loan structure to suit their financial goals.
• Offset Accounts: Up to 10 offset transaction accounts can be linked to a variable loan account, reducing the interest payable on the loan. This feature is beneficial for borrowers looking to minimise interest costs while maintaining access to their funds.
• Construction Loans: Macquarie Bank offers construction loans that allow staged drawdowns for renovations or new home builds. This feature supports borrowers in managing large projects by providing funds as needed throughout the construction process.
• Digital Features: The bank's digital services include automated valuations and a robust online presence, appealing to borrowers who prefer managing their finances digitally. This ensures efficient and streamlined loan management.

Macquarie Bank Limited offers a transparent fee structure with no application fees and a focus on digital services, providing competitive options for Australian home loan borrowers.

• Application Fee: $0 - No cost to apply for a loan with Macquarie Bank.
• Documentation Fee: $350 - Charged for preparing loan documents and arranging settlement.
• Third Party Settlement Fee: Variable - Payable if the lender incurs fees from third parties during loan settlement.
• Annual Package Fee: $248 (Annual) - Charged every six months in arrears; covers up to five loan applications.
• Mortgage Discharge Fee: $400 - Payable upon full discharge of a mortgage, excluding third party fees.
• Break Cost: Variable - Applies to early repayment during fixed rate periods; can be substantial.
• Third Party Fees: Variable - Incurred if the lender faces third party fees related to the loan agreement post-settlement.

Macquarie Bank Limited offers home loans to Australian permanent residents aged 18 and over, with a focus on flexible repayment options and competitive rates.

• Must be at least 18 years old.
• Must be a permanent resident of Australia.
• Must meet specific income and employment criteria to demonstrate ability to repay the loan.
• Must have a satisfactory credit history as assessed by Macquarie Bank.
• Lending criteria, fees, and terms and conditions apply.
• Loan-to-Value Ratio (LVR) may be up to 95% for some products, with potential for Lenders Mortgage Insurance (LMI) above 80%.
• A minimum deposit of 5% may be accepted with a guarantor.
• Redraw facility available on variable rate loans only.
• Extra repayments on fixed loans capped at $10,000 annually without penalties.

• LMI is typically required for loans with an LVR above 80%.
• Guarantor options can enhance eligibility, particularly for those with lower deposits.
• Fixed rate loans have limited extra repayment options, capped at $10,000 annually.