Macquarie Credit Union Standard Variable Loan


The Standard Variable Loan’s features include a 100 per cent offset account and redraw facility, which make it easy for buyers to make additional repayments and withdrawals.

Borrowers also have access to a top up feature and a time out repayment pause, which adds to the package’s flexibility.

Borrowers can expect a high variable interest rate, but have the option to split their loan with one of Macquarie Credit Union’s fixed rate packages.

Customers may also gain access to a pre-approved credit card with no annual fee, although this is conditional on having a relationship with the lender.

Who is the Macquarie Credit Union Standard Variable Loan good for?

The Standard Variable Loan will appeal to borrowers who are looking for flexibility around their repayments and those who have a pre-existing relationship with Macquarie Credit Union or would like to use their other banking products, such as credit cards.  An annual fee-free credit card comes pre-approved provided the applicant has a $100,000 relationship with Macquarie Credit Union.

Those with a low deposit may also be interested in this loan, as it accepts deposits as low as 5 per cent provided the borrower takes lenders mortgage insurance.

Review - What RateCity says

The high rate on this loan compared to others in the market could be a deterrent for borrowers in a reasonably low rate environment.


However, those who want the flexibility to pause repayments or top up the loan may still find it attractive. It has a number of features borrowers may like, including a 100 per cent offset account and a redraw facility, but the high rate in combination with the fees is hard to overlook. 

Macquarie Credit Union Standard Variable Loan Options

The Macquarie Credit Union Standard Variable Loan lets owner-occupiers, investors and refinancers borrow at a variable rate for up to 30 years. 

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  • Offset account.
  • No ongoing fees.
  • Branch access.
  • High rates.
  • Upfront costs.
  • Discharge fee.

Minimum loan $10,000.

Must meet lender’s serviceability criteria. 

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Estimated upfront fees: $570.00
  • Discharge fees: $200
  • Ongoing fees: $0

Estimated upfront fees are low to moderate and paired with no ongoing expenses. There is also a very competitive discharge fee that is to be paid at the end of your loan period.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Macquarie Credit Union

Macquarie Credit Union is a member-owned credit union, which began in the Central West region of NSW and primarily services customers in the Dubbo local government area.

It now has branches in located in all mainland states. You can apply online for a loan through the Macquarie website or call to speak with a consultant. You can also access information about the loan at your local branch.

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