✅ Macquarie Bank Home Loan offers variable rates from 6.09% p.a.
✅ Flexible terms from 1 to 30 years
✅ No ongoing fees with the Basic Home Loan
✅ Free online pre-approval in as little as 15 minutes, valid for 90 days
Why we recommend the Macquarie Bank Home Loan
The Macquarie Bank Home Loan combines genuine flexibility with competitive conditions. You can choose between the Basic Home Loan – with no ongoing fees, free redraws and no fee to split into multiple loan accounts – or the Offset Home Loan, which lets you link up to 10 offset accounts to your variable account to reduce the balance on which interest is charged.
Fixed rate options (from 1 to 5 years), variable and split loans allow you to structure your financing to suit your current financial situation. Macquarie also won’t run a credit check before you formally submit your application, which is key to protecting your credit score while you’re shopping around.
What is a home loan and what is it for?
A home loan (like Macquarie Bank Home Loan) is a line of credit offered by banks to finance the purchase of residential properties. In practice, the bank advances the value of the property and the borrower repays the amount in monthly instalments, plus interest, over a number of years.
It’s the right choice for anyone looking to buy their first home, purchase an investment property or refinance an existing property on better terms. In Australia, this type of credit can be accessed by citizens, permanent residents and even temporary residents with verified income, making it accessible to a wide range of buyers.
What is an offset account?
An offset account is a transaction account linked to your home loan. The balance held in the account is offset against your outstanding loan balance before interest is calculated.
For example: if you have a $500,000 home loan and $30,000 in an offset account, interest is only calculated on $470,000. You don’t earn interest on the money in the account, but you stop paying interest on that amount – which, over the long term, can represent significant savings and even shorten the overall term of your loan.
Macquarie allows you to link up to 10 offset accounts per variable rate loan account, giving you the flexibility to organise your money by goal – emergency fund, holidays, renovations – without losing the benefit of reduced interest.
Author’s take
Macquarie offers two quite different setups. The Basic Home Loan is all about simplicity and zero ongoing fees. The Offset Home Loan has a half-yearly fee, but can deliver meaningful savings over time: every dollar you keep in your offset accounts directly reduces the balance on which interest is charged – the more you save, the less interest you pay.
One standout feature of the Macquarie Bank Home Loan is the pre-approval process: it takes around 15 minutes online, it’s free and valid for 90 days. Macquarie won’t run a formal credit check until you submit your final application, so you can explore your options and compare without any impact on your credit score.
Start your property journey today!
Ready to take the next step towards your own home? Click the button below to find out everything about the Macquarie Bank Home Loan – eligibility requirements, how it works and how to get started for free, online and with no impact on your credit score.
Utua is not a financial institution and does not grant loans. Our role is to analyse credit products available in the Australian market to help you make a more informed and confident decision. Any application is made directly with the financial institution of your choice.
