Investment bank AFSL 237502 · Online or broker (preferred channel); limited branch access
Macquarie Bank Limited holds AFSL 237502 and is an investment bank that has built a substantial retail mortgage book alongside its primary business in corporate finance, asset management, and infrastructure investment. Macquarie entered the retail mortgage market seriously in the late 2010s, using its balance sheet strength and technology investment to offer competitive rates without the overhead of a large branch network.
Macquarie is often described as the 'fifth bank' in Australia — not a Big Four member, but with the capital base and sophistication of a major institution. Its mortgage product is positioned at financially literate borrowers who want competitive rates and strong offset account functionality. Macquarie's Offset Home Loan is particularly well-regarded for the quality of its offset mechanics and reporting tools.
Market position: Investment bank — no Big Four, but Big Four balance sheet; strong offset product
Digital tools: Macquarie app — offset management, real-time interest savings display
Best suited to: Borrowers looking for competitive rates from a bank with strong offset account features.
Like all major Australian lenders, Macquarie offers a range of home loan types to suit different borrower needs. Rates change frequently — this guide does not quote specific figures. Use our repayment calculator with current Macquarie rates from their website.
Macquarie's core home loan product is the Offset Home Loan — a variable rate product with a 100% offset account, redraw, and split capability. Macquarie also offers fixed rate loans across 1–5 year terms and investment loans with IO options.
The offset account at Macquarie is genuinely feature-rich. Multiple offset accounts can be linked to a single loan, and reporting shows interest saved in real time. For borrowers who are offset-account maximisers — parking salary and keeping it there as long as possible before bills are paid — Macquarie's offset implementation is among the best in the market.
Macquarie does not have a large branch network, so borrowers need to be comfortable managing their loan digitally. Current rates should be sourced from Macquarie's website. Use our offset account calculator to model the interest savings available with an offset product.
| Feature | Available |
|---|---|
| Offset Account | ✓ Yes |
| Redraw Facility | ✓ Yes |
| Split Loans | ✓ Yes |
| Mobile App | ✓ Yes |
Feature availability applies to Macquarie's standard variable product. Some features may be product-specific — confirm with Macquarie before applying.
Borrowers looking for competitive rates from a bank with strong offset account features.
This is a general guide based on Macquarie's market positioning and product structure. Individual eligibility depends on your income, credit history, deposit size, and existing liabilities. Use our borrowing capacity calculator to estimate what you may be eligible for before speaking to Macquarie.
Macquarie applications are submitted online through its website or via mortgage brokers. Macquarie has a strong broker relationship — a significant portion of its mortgage volume comes through the broker channel, and its broker portal is well-regarded for turnaround times.
Direct applications are fully digital. Macquarie's credit team is accessible by phone for complex queries. Assessment tends to be thorough — Macquarie is detailed in its serviceability analysis, particularly for borrowers with investment income or business income components.
Macquarie may request additional documents depending on your situation. Confirm the full checklist at application.
Macquarie occupies a mid-point between online lenders and Big Four banks — rates are sharper than the Big Four, but not as low as ubank or Athena. This creates genuine negotiation room in both directions.
Investment bank positioning: Macquarie's retention team understands financial sophistication. Come prepared with numbers — your current LVR, years remaining, loan balance, and specific competitor rates. Precision is respected more than vague threats.
Offset account emphasis: If you actively use the offset account and it is reducing your interest significantly, quantify this in the conversation. Macquarie knows offset-active customers are profitable — they're paying interest on a smaller balance but remaining as customers. This is worth leveraging.
ING and ANZ benchmark: These are the competitors Macquarie monitors. An ING Mortgage Simplifier rate or an ANZ Simplicity PLUS rate is the right comparator to cite.
Broker route: If negotiating directly stalls, consider engaging a mortgage broker. Macquarie's broker channel has different pricing levers to the direct channel — a broker negotiating on your behalf may unlock a sharper rate than you could achieve calling directly.
Be ready to follow through. Retention teams can see your account history. If you threaten to refinance, have a genuine pre-approval in hand — it makes your position credible and ensures you have a real alternative if Macquarie doesn't move.
If you are struggling to meet your home loan repayments, Macquarie Bank has a dedicated hardship team. Australian lenders are required under the National Consumer Credit Protection Act to have a hardship process, and banks have obligations to assist borrowers facing genuine financial difficulty.
Macquarie Bank Hardship Team
1800 806 310Contact Macquarie as early as possible if you anticipate difficulty — proactive contact leads to better outcomes than waiting until you miss a payment.
For independent, free financial counselling, call the National Debt Helpline on 1800 007 007. Financial counsellors can help you understand your options and negotiate with your lender on your behalf.
Before deciding on a lender, compare at least three options. Your borrowing scenario, LVR, and income type will determine which lenders can offer you the best combination of rate, features, and service.
CBA | Westpac | ANZ | NAB | ING | view all lenders →
See all lenders: use our refinancing calculator to model whether switching lenders makes financial sense for your situation.
Use our free calculators to model your repayments, check your borrowing capacity, and compare scenarios before contacting any lender.
Borrowing Capacity Calculator Repayment Calculator