- Company
- Macquarie Bank Limited
- Licence
- ACL 237502 (ASX:MQG)
- Type
- Investment bank with retail banking (ADI)
- Founded
- 1969
- Headquarters
- Sydney
- Products
- Basic Home Loan (Variable), Offset Home Loan (Variable with offset), Fixed Rate Home Loans, Investor and SMSF property loans, Transaction and savings accounts
Macquarie Bank is one of Australia's major investment banks, with a substantial domestic banking arm that writes home loans, transaction accounts, savings products and SMSF property finance. The home loan business has been one of the fastest-growing in Australia over the past five years, taking material market share off the Big 4 through the mortgage broker channel.
Macquarie's home loan growth
Macquarie Bank's domestic home loan book has grown materially over the past five years, taking share from the Big 4 primarily through the mortgage broker channel. The growth has been driven by competitive variable rates, fast digital settlement on clean files, and reasonable credit policy for prime borrowers.
For borrowers, the practical access path is through a broker accredited on the Macquarie panel. Macquarie does accept some direct retail applications but the bulk of volume comes through brokers.
Where Macquarie genuinely wins
Macquarie's investor and SMSF lending capability is one of the strongest among non-Big-4 lenders. The SMSF product is dedicated with its own credit policy. For SMSF property borrowers, Macquarie is typically a strong option compared to Liberty or La Trobe.
On rate, Macquarie Basic Home Loan variable sits towards the sharper end of the non-Big-4 set at low LVR for prime owner-occupier P&I. The technology investment from the investment bank parent shows in fast credit decisions and settlement timing on standard transactions.
Where the trade-offs sit
Macquarie does not have retail branches. The access path is digital or via broker; no walk-in support. Credit policy can be conservative on some self-employed structures and complex files. Brand awareness for consumers who default-think Big 4 is lower than the major banks.
The Offset Home Loan annual fee needs to be modelled against actual offset balance to ensure the offset interest saving exceeds the fee.
The honest pros and cons
- Sharp variable rates particularly at low LVR for prime owner-occupier P&I
- Strong investor and SMSF lending capability
- Fast digital application and settlement on clean files
- Basic Home Loan with no annual fee
- No retail branches; access is via broker
- Credit policy conservative on some self-employed structures
- Lower brand awareness for consumers who default-think Big 4
- Offset Home Loan annual fee should be modelled against actual balance
Frequently asked questions
Is Macquarie Bank legitimate?
Yes. Macquarie Bank Limited holds Australian Credit Licence 237502 and is an ADI under APRA supervision. Macquarie Group, the parent company, is publicly listed on the ASX under MQG.
Is Macquarie a bank?
Yes. Macquarie Bank holds an Australian banking licence and operates as an ADI. Customer deposits at Macquarie are covered by the federal Financial Claims Scheme. The home loan arm is part of the broader Macquarie Group, which is best known for its investment banking, asset management and infrastructure investing.
What is the Macquarie home loan rate?
Macquarie publishes current variable and fixed home loan rates on its home loan rates page. For prime owner-occupier P&I files at low LVR, Macquarie Basic is typically competitive against Big 4 packaged products.
Does Macquarie do SMSF loans?
Yes. Macquarie has a dedicated SMSF property lending product with its own credit policy and LVR cap. The SMSF capability is one of the stronger non-Big-4 options.
How does Macquarie compare to ING?
Macquarie and ING are two of the most competitive non-Big-4 home loan options. Macquarie has stronger investor and SMSF capability; ING has a fuller retail banking product range. See our Macquarie vs ING comparison.