Private Bank Lender, Major Lender.
Bank Lender: Provides tailored lending solutions, often focused on higher-net-worth individuals or complex financial needs.
Major Lender: Operates as one of Australia's significant financial institutions, with access to a broad range of banking and lending products.
Macquarie Bank has evolved into one of Australia's most recognised financial institutions, with a mortgage offering that now focuses on home buyers and property investors. Its loan range is deliberately simple, designed to reduce confusion and help customers choose between three core products:
While these variable-rate loans generally share the same pricing tiers, Macquarie's fixed rate products are less competitive, and borrowers may find stronger options elsewhere. Beyond mainstream home loans, Macquarie also offers specialist lending, including SMSF loans, reverse mortgages, and accommodation bond loans, which can be attractive in specific circumstances.
Historically, Macquarie has played an important role in the Australian mortgage landscape. In the late 1990s, it backed Aussie Home Loans, sparking competition that forced the major banks to lower their interest rates. At the same time, the bank has faced criticism—most notably during the Global Financial Crisis, when it pulled out of the mortgage market entirely, leaving some customers (particularly those with low doc loans) facing higher rates.
Macquarie Bank is generally considered a strong choice for borrowers with good credit profiles, particularly those seeking straightforward mortgage products or larger loan sizes. Its Offset Home Loan Package is often viewed as competitive, especially when negotiated on big loans, and its Line of Credit product is one of the more flexible options in the market for property investors. The bank has also invested heavily in digital mortgage solutions, making the application process faster and less reliant on paperwork.
On the downside, Macquarie's fixed-rate loans are usually less competitive, and the bank has a reputation for being selective when offering rate discounts—reserving sharper pricing for strong, low-risk applicants.
Overall, Macquarie is a reputable and established lender with the backing of a major financial institution. For home buyers, investors, and professionals with solid credit, it represents a reliable option, though those seeking the lowest possible fixed rates or more niche products may find better value elsewhere.
Macquarie Bank is part of the Macquarie Group, a global financial services organisation operating across 31 markets with more than 19,700 employees worldwide. Established in 1969, the Group has delivered 56 consecutive years of profitability, making it one of Australia's most resilient and internationally recognised financial institutions.
Macquarie's operations span asset management, retail and business banking, wealth management, advisory services, and capital solutions across debt, equity, financial markets, and commodities. At its core, Macquarie is driven by the purpose of empowering people to innovate and invest for a better future, guided by principles of opportunity, accountability, and integrity.
The bank maintains a strong focus on both clients and community. Through the Macquarie Group Foundation, it supports social impact projects globally, while its commitment to diversity, equity, and inclusion (DEI) ensures it continues to innovate and remain sustainable in meeting the needs of shareholders, customers, and staff alike.
In summary, Macquarie Bank stands as both a major Australian lender and a global financial powerhouse, balancing its deep local roots with a broad international reach.
Macquarie Bank Home Loans are designed for borrowers with strong credit profiles who value competitive variable rates, flexible features, and a streamlined digital experience. The lender offers three main home loan products, keeping the range simple and easy to navigate:
Variable rates start from around 5.39% p.a. for owner-occupied loans with a larger deposit, rewarding good borrowers who can demonstrate lower risk. However, Macquarie's fixed rate loans are typically less competitive than those offered by some other major banks.
Macquarie's digital-first approach is another key drawcard. Borrowers can apply online in as little as 15–30 minutes, track their loan via the bank's award-winning mobile app, and open multiple offset accounts without additional paperwork. Pre-approval turnaround times are often faster than the industry average, giving customers the confidence to act quickly when buying property.
While Macquarie's history includes some controversy—such as its withdrawal from the mortgage market during the Global Financial Crisis—the bank has since positioned itself as a major lender focused on home buyers, refinancers, and investors. Its combination of competitive variable rates, investor-friendly structures, and strong digital tools make it a compelling option for borrowers with good credit, though those seeking long-term fixed loans or SMSF finance may need to look elsewhere.
Customer feedback on Macquarie Bank home loans is highly divided, with strong praise for certain features but equally strong criticism of service and long-term support.
On the positive side, many borrowers highlight Macquarie's competitive variable rates, fast approvals, and feature-rich digital banking tools. Customers appreciate being able to open multiple offset accounts (up to 10), use the award-winning app for budgeting, and manage their loans online with minimal paperwork. Several reviewers noted that loans were approved within days, allowing them to meet tight settlement deadlines, and brokers often find the process smoother than with some of the major banks.
However, negative sentiment is significant and tends to focus on customer service and retention. A recurring complaint is that it's difficult to reach a real person, with long phone waits and reliance on AI chat leading to unresolved issues. Some borrowers also say Macquarie does little to retain loyal clients, refusing to match competitor refinance offers or provide meaningful rate discounts even after years of on-time repayments. Others cite valuation disputes, heavy documentation requirements, and long delays in processing applications. Experiences around refinancing in particular appear inconsistent, with some borrowers describing it as smooth and others as drawn-out and frustrating.
Overall, Macquarie's home loans seem best suited to tech-savvy borrowers with strong credit who want competitive variable rates and powerful online banking features. But for those who prioritise hands-on customer service, loyalty recognition, or consistent refinancing support, Macquarie receives mixed to poor reviews.
Before you commit to a home loan, it helps to know where you stand. With Macquarie Bank, you can explore a range of loan options tailored to your circumstances without leaving a mark on your credit file.
Macquarie's digital-first approach makes the process straightforward: your information is assessed securely and efficiently, giving you an idea of the products and rates you may be eligible for before you lodge a full application. This means you can compare, plan, and move forward with confidence—without unnecessary hits to your credit history.
Whether you're considering a home loan, investment loan, or refinancing, Macquarie provides the tools and guidance to help you understand your borrowing position while keeping the process quick, transparent, and paper-light.
Yes, Macquarie Bank is a regulated Australian bank that operates under the supervision of the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC). Eligible deposits are also protected by the Australian Government's Financial Claims Scheme (up to the applicable limit).
Macquarie Bank offers a range of competitive home loan products with flexible features such as offset accounts, redraw facilities, and competitive interest rates. Whether it's a good option depends on your personal financial situation and loan requirements.
You can request your payout figure by contacting Macquarie directly via online banking, the Macquarie mobile app, or by calling their customer service team. The payout figure will include the balance owing plus any fees or charges that apply.
No, not all Macquarie home loans are 30 years. While 30 years is a common maximum term, Macquarie offers different loan terms depending on the product and borrower's needs.
Approval depends on factors such as your income, expenses, credit history, and the type of loan you're applying for. Macquarie assesses each application individually against their lending criteria.
You can make repayments via direct debit, BPAY, or through Macquarie Online Banking and the mobile app.
Yes, most Macquarie variable-rate home loans allow extra repayments without penalty. Fixed-rate loans may have restrictions or break costs, so always check your loan terms.
The minimum redraw amount on a Macquarie Basic Home Loan is generally $1, but this may be subject to change. You can access redraws via online banking or the mobile app.
You can apply online via Macquarie's website, through the mobile app, by phone, or with the assistance of a mortgage broker or lending specialist.
Repayment schedules are outlined in your loan contract. You can also check due dates through online banking, the mobile app, or by contacting customer service.
The borrowing amount depends on your income, expenses, credit history, deposit, and the loan product chosen. You can use Macquarie's online borrowing calculator for an estimate.
Applications can be submitted online or through a car dealership that partners with Macquarie Leasing. You'll need to provide ID, proof of income, and details about the vehicle.
Macquarie has exited the car finance market and no longer provides new loans through brokers, direct applications, or novated leasing arrangements. This change, introduced last year, was part of the bank's strategy to concentrate on its core personal banking services, such as home loans and deposit products. According to Ben Perham, Macquarie's Head of Personal Banking, the move was designed to better align the business with its long-term growth priorities.
You can view your outstanding balance anytime via Macquarie Online Banking, the mobile app, or by requesting a statement.
You can manage and track your loan through Macquarie Online Banking or the mobile app, where you can view balances, repayment schedules, redraw funds, and make additional repayments.
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