Macquarie Credit Union Introductory Home Loan


The Macquarie Credit Union Introductory Rate Home Loan discounts the standard variable rate within the first year of your loan, though this rate is moderate and you will revert to a high variable rate following the introductory period.

When it comes to your repayments, this introductory loan lets you choose from weekly, fortnightly or monthly payment options.

When the introductory period is over, you have the option to take time out from your repayments if you’re in a period of flux and need to take a short repayment holiday. You can also make additional loan repayments after the introductory period, which can be accessed at a later stage using the redraw facility.

The small deposit requirement could make this an attractive loan, but you’ll have to pay for lenders mortgage insurance if you plan on making smaller than a deposit of 20 per cent.

Depending on your relationship with the credit union and total amount in your combined accounts, you may have access to a low-rate, fee-free Visa credit card.

Who is the Macquarie Credit Union Introductory Home Loan good for?

The Introductory Home Loan is best suited to owner-occupiers and first home buyers looking for a simple yet flexible home loan. Refinancers might find this loan less suitable due to the upfront fee and high interest rate and investors might be put off by the high interest rate and lack of and interest-only option. Though, all borrowers see benefit in having a discounted rate within the first year, $0 in ongoing fees and the early repayment option following the introductory period. 

Review - What RateCity says

The features on the Introductory Rate Home Loan are limited during the discounted period and you still have to pay a moderate variable rate which then reverts to a high rate following your introductory period.

It’s worth pointing out you might be able to unlock more features following your introductory period, which are limited during this time.

If you prefer face-to-face customer support, Macquarie Credit Union has a limited branch network and customer support isn’t as extensive as the big banks, so it’s worth considering how you prefer to handle your home loan and if you want to become a member with this lender.

Macquarie Credit Union Introductory Home Loan Options

Information about the Macquarie Credit Union Introductory Rate Home Loan is at the link provided.

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  • No ongoing fees.
  • Repayment holiday option.
  • Top up facility.
  • Rate reverts to high variable interest rate.
  • Upfront and discharge fees.
  • Limited branch network.

Must be a member of Macquarie Credit Union.

Must be an employee working in a government council or other eligible industry.

Must meet serviceability criteria. 

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $200.00 - $250.00
  • Discharge fees: $200
  • Ongoing fees: $0

This home loan has no ongoing monthly or annual fees but does have a moderate upfront fee and discharge fee payable when the loan ends or if you choose to refinance to another lender. The Visa credit card attached to this loan has no annual fees, but other costs may apply. 

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Macquarie Credit Union

Macquarie Credit Union began with a group of electricity workers and has grown to include a broader range of members in related industries with financial products and services such as home loans, savings accounts, personal loans, term deposits and credit cards tailored for Australians in these sectors.

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