Macquarie Bank home loan repayment calculator

Thinking about taking out a home loan with Macquarie Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Macquarie Bank home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.19 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Large variety of home loan products to suit all borrowers
  • Flexible loan options
  • Ability to earn Qantas Points on some loans
Cons
  • Some loans have high fees
  • Limited physical branch network

Macquarie Bank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Company
Comparison Rate*
Ongoing fee
Go to site

2.19%

Fixed - 3 years

$363
Macquarie Bank

2.53%

$0
More details

2.19%

Fixed - 2 years

$363
Macquarie Bank

2.56%

$0
More details

2.24%

Fixed - 3 years

$363
Macquarie Bank

2.58%

$0
More details

2.59%

Variable

$363
Macquarie Bank

2.59%

$0
More details

2.19%

Fixed - 1 year

$363
Macquarie Bank

2.60%

$0
More details

2.24%

Fixed - 2 years

$363
Macquarie Bank

2.61%

$0
More details

2.29%

Fixed - 3 years

$363
Macquarie Bank

2.63%

$0
More details

2.64%

Variable

$363
Macquarie Bank

2.64%

$0
More details

2.64%

Variable

$363
Macquarie Bank

2.64%

$0
More details

2.19%

Fixed - 2 years

$363
Macquarie Bank

2.65%

$0
More details

2.24%

Fixed - 1 year

$363
Macquarie Bank

2.65%

$0
More details

2.74%

Fixed - 4 years

$363
Macquarie Bank

2.67%

$0
More details

2.34%

Fixed - 3 years

$363
Macquarie Bank

2.68%

$0
More details

2.74%

Fixed - 5 years

$363
Macquarie Bank

2.68%

$0
More details

2.19%

Fixed - 1 year

$363
Macquarie Bank

2.69%

$0
More details

2.69%

Variable

$363
Macquarie Bank

2.69%

$0
More details

2.24%

Fixed - 2 years

$363
Macquarie Bank

2.70%

$0
More details

2.79%

Fixed - 4 years

$363
Macquarie Bank

2.72%

$0
More details

2.79%

Fixed - 5 years

$363
Macquarie Bank

2.73%

$0
More details

2.24%

Fixed - 1 year

$363
Macquarie Bank

2.74%

$0
More details

2.74%

Variable

$363
Macquarie Bank

2.74%

$0
More details

2.84%

Fixed - 4 years

$363
Macquarie Bank

2.77%

$0
More details

2.84%

Fixed - 5 years

$363
Macquarie Bank

2.78%

$0
More details

2.49%

Fixed - 3 years

$363
Macquarie Bank

2.79%

$0
More details

2.79%

Variable

$363
Macquarie Bank

2.79%

$0
More details

2.79%

Variable

$363
Macquarie Bank

2.79%

$0
More details

2.19%

Fixed - 3 years

$0
Macquarie Bank

2.80%

$248 annually
More details

2.49%

Fixed - 2 years

$363
Macquarie Bank

2.82%

$0
More details

2.89%

Fixed - 4 years

$363
Macquarie Bank

2.82%

$0
More details

2.89%

Fixed - 5 years

$363
Macquarie Bank

2.83%

$0
More details

2.19%

Fixed - 2 years

$0
Macquarie Bank

2.84%

$248 annually
More details

2.54%

Fixed - 3 years

$363
Macquarie Bank

2.84%

$0
More details

2.24%

Fixed - 3 years

$0
Macquarie Bank

2.85%

$248 annually
More details

2.49%

Fixed - 1 year

$363
Macquarie Bank

2.85%

$0
More details

2.59%

Variable

$363
Macquarie Bank

2.86%

$248 annually
More details

2.19%

Fixed - 1 year

$0
Macquarie Bank

2.87%

$248 annually
More details

2.54%

Fixed - 2 years

$363
Macquarie Bank

2.87%

$0
More details

2.24%

Fixed - 2 years

$0
Macquarie Bank

2.89%

$248 annually
More details

2.89%

Variable

$363
Macquarie Bank

2.89%

$0
More details

2.29%

Fixed - 3 years

$0
Macquarie Bank

2.90%

$248 annually
More details

2.54%

Fixed - 1 year

$363
Macquarie Bank

2.90%

$0
More details

2.64%

Variable

$363
Macquarie Bank

2.91%

$248 annually
More details

2.69%

Fixed - 3 years

$363
Macquarie Bank

2.91%

$0
More details

2.19%

Fixed - 2 years

$0
Macquarie Bank

2.92%

$248 annually
More details

2.24%

Fixed - 1 year

$0
Macquarie Bank

2.92%

$248 annually
More details

2.59%

Fixed - 2 years

$363
Macquarie Bank

2.92%

$0
More details

2.74%

Fixed - 4 years

$0
Macquarie Bank

2.94%

$248 annually
More details

2.34%

Fixed - 3 years

$0
Macquarie Bank

2.95%

$248 annually
More details

2.59%

Fixed - 1 year

$363
Macquarie Bank

2.95%

$0
More details

2.74%

Fixed - 5 years

$0
Macquarie Bank

2.95%

$248 annually
More details

2.19%

Fixed - 1 year

$0
Macquarie Bank

2.96%

$248 annually
More details

2.74%

Fixed - 3 years

$363
Macquarie Bank

2.96%

$0
More details

2.24%

Fixed - 2 years

$0
Macquarie Bank

2.97%

$248 annually
More details

2.64%

Fixed - 2 years

$363
Macquarie Bank

2.97%

$0
More details

2.94%

Fixed - 4 years

$363
Macquarie Bank

2.97%

$0
More details

2.94%

Fixed - 5 years

$363
Macquarie Bank

2.97%

$0
More details

2.79%

Fixed - 4 years

$0
Macquarie Bank

2.99%

$248 annually
More details

2.99%

Variable

$363
Macquarie Bank

2.99%

$0
More details

2.64%

Fixed - 1 year

$363
Macquarie Bank

3.00%

$0
More details

2.79%

Fixed - 5 years

$0
Macquarie Bank

3.00%

$248 annually
More details

2.24%

Fixed - 1 year

$0
Macquarie Bank

3.01%

$248 annually
More details

2.74%

Variable

$363
Macquarie Bank

3.01%

$248 annually
More details

2.99%

Fixed - 5 years

$363
Macquarie Bank

3.02%

$0
More details

2.99%

Fixed - 4 years

$363
Macquarie Bank

3.02%

$0
More details

2.84%

Fixed - 4 years

$0
Macquarie Bank

3.04%

$248 annually
More details

2.84%

Fixed - 5 years

$0
Macquarie Bank

3.05%

$248 annually
More details

2.49%

Fixed - 3 years

$0
Macquarie Bank

3.06%

$248 annually
More details

2.69%

Fixed - 3 years

$363
Macquarie Bank

3.06%

$0
More details

2.79%

Variable

$363
Macquarie Bank

3.06%

$248 annually
More details

3.04%

Fixed - 5 years

$363
Macquarie Bank

3.07%

$0
More details

3.04%

Fixed - 4 years

$363
Macquarie Bank

3.07%

$0
More details

3.04%

Fixed - 4 years

$363
Macquarie Bank

3.07%

$0
More details

3.04%

Fixed - 5 years

$363
Macquarie Bank

3.07%

$0
More details

3.04%

Fixed - 2 years

$363
Macquarie Bank

3.08%

$0
More details

3.04%

Fixed - 3 years

$363
Macquarie Bank

3.08%

$0
More details

2.49%

Fixed - 2 years

$0
Macquarie Bank

3.09%

$248 annually
More details

2.89%

Fixed - 4 years

$0
Macquarie Bank

3.09%

$248 annually
More details

3.04%

Fixed - 1 year

$363
Macquarie Bank

3.09%

$0
More details

3.09%

Variable

$363
Macquarie Bank

3.09%

$0
More details

3.09%

Variable

$363
Macquarie Bank

3.09%

$0
More details

2.69%

Fixed - 2 years

$363
Macquarie Bank

3.10%

$0
More details

2.89%

Fixed - 5 years

$0
Macquarie Bank

3.10%

$248 annually
More details

2.54%

Fixed - 3 years

$0
Macquarie Bank

3.11%

$248 annually
More details

2.74%

Fixed - 3 years

$363
Macquarie Bank

3.11%

$0
More details

2.49%

Fixed - 1 year

$0
Macquarie Bank

3.12%

$248 annually
More details

3.09%

Fixed - 4 years

$363
Macquarie Bank

3.12%

$0
More details

3.09%

Fixed - 5 years

$363
Macquarie Bank

3.12%

$0
More details

3.09%

Fixed - 4 years

$363
Macquarie Bank

3.12%

$0
More details

3.09%

Fixed - 5 years

$363
Macquarie Bank

3.12%

$0
More details

3.09%

Fixed - 3 years

$363
Macquarie Bank

3.13%

$0
More details

3.09%

Fixed - 2 years

$363
Macquarie Bank

3.13%

$0
More details

2.54%

Fixed - 2 years

$0
Macquarie Bank

3.14%

$248 annually
More details

3.09%

Fixed - 1 year

$363
Macquarie Bank

3.14%

$0
More details

3.14%

Variable

$363
Macquarie Bank

3.14%

$0
More details

2.69%

Fixed - 1 year

$363
Macquarie Bank

3.15%

$0
More details

2.74%

Fixed - 2 years

$363
Macquarie Bank

3.15%

$0
More details

2.89%

Variable

$363
Macquarie Bank

3.16%

$248 annually
More details

2.54%

Fixed - 1 year

$0
Macquarie Bank

3.17%

$248 annually
More details

2.69%

Fixed - 3 years

$0
Macquarie Bank

3.18%

$248 annually
More details

2.59%

Fixed - 2 years

$0
Macquarie Bank

3.19%

$248 annually
More details

Macquarie Bank customer service

Customers can contact Macquarie Bank by phone, or submit an online enquiry to have a Macquarie Bank home loan specialist make contact.

✓     Customer service centre (phone)

✓     Mobile app

✓     Online banking

✓     Email

✓     Mobile banking staff

How to apply for a Macquarie Bank home loan

Borrowers wanting to apply for a Macquarie Bank home loan can complete an online enquiry form or call a loan specialist directly. 

Before applying for a Macquarie Bank home loan, it’s important to think about how much you can afford to borrow and comfortably repay, as well as what other costs you need to include.

When you apply for a Macquarie Bank home loan, you’ll need to provide:

  • Proof of employment and income e.g. recent payslips
  • Proof of identity e.g. driver’s license or passport
  • Details of any assets, debts or liabilities, including car loans and personal loans

About Macquarie Bank home loans

Macquarie Bank offers home loans that could suit a wide range of customers, including:

  • Owner-occupier home loans
  • Investor home loans
  • Refinancing home loans
  • Construction loans

Additionally, Macquarie Bank home loans are available with a variety of interest rate and repayment options, including:

  • Principal and interest
  • Interest-only
  • Variable interest
  • Fixed interest
  • Split interest

Some Macquarie Bank mortgages include an offset account, which can let you use your savings to help reduce your interest charges.

Macquarie Bank home loans come with a maximum loan term of 30 years. Extra repayments are allowed on selected home loans, as are redraw facilities.

Macquarie Bank home loan rates

Macquarie Bank home loan interest rates tend to be moderately low to moderately high, depending on the amount being borrowed and the Loan to Value Ratio or LVR.

Typically, owner occupiers with smaller loans who can make a deposit of 20 per cent or more can secure some of the lowest interest rates.

At the other end of the spectrum, investors borrowing a significant amount with a low deposit are often charged some of the highest interest rates.

Borrowers can choose between a variable-rate home loan with Macquarie Bank, which may rise or fall over time, or a fixed-rate home loan, with an interest rate that will stay the same for up to 5 years, for simpler budgeting.

Macquarie Bank’s upfront fees for home loans tend to be very low, while ongoing fees range from very low to high depending on the home loan. Discharge fees may also apply at the end of the loan term.

Macquarie Bank home loans review

Macquarie Bank offers a reasonably wide range of home loans for different borrowers, such as owner-occupiers, investors and those looking to refinance their homes. It’s worth noting, however, that it does not offer low doc home loans.

While it may not necessarily offer the cheapest home loans on the market, Macquarie Bank nonetheless caters to a range of borrowers, and offers flexibility with home loan options such as offset accounts and redraw facilities on some home loans. Macquarie Bank's interest rates and fees are different for these different types of home loans.

Learn more about Macquarie Bank

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.