What’s the difference between Basic and Offset Home Loans?

Our Offset Home Loan can help you save the amount of interest you pay overtime, while allowing you to do your everyday banking with our bank accounts and credit card (if applicable). See Home loan offset accounts for more information on how offsets work.

Our Basic Home Loan is a low-fee option with no monthly or account management fees, offering flexible ways to repay your home loan.

Switch to an Offset Home Loan

You may request to switch your home loan from a Basic Home Loan to an Offset Home Loan.

For home loans with a BSB starting with 182

  • You’ll need to open a Transaction account via Macquarie Online Banking or the Macquarie Mobile Banking app.
  • The Transaction account must be in the same name as the borrower/s on your home loan account.
  • A package fee applies to our Offset Home Loan. See When your home loan fees are charged for more information.
  • Please note the change to an Offset Home Loan is not possible if you are currently living outside of Australia.
  • A company or trust can only switch to an Offset Home Loan if there’s an existing Transaction account opened at settlement in the name of the borrowing entity. If there’s no existing Transaction account, a switch to an Offset Home Loan can’t be done.
  • When your new Transaction account has been opened, please call us on 1800 007 722 (+61 2 8550 5666).

For home loans with a BSB starting with 183

Please call our team to assist on 1800 007 722 (+61 2 8550 5666).

Switch to a Basic Home Loan

You may request to switch your home loan from an Offset Home Loan to a Basic Home Loan. Please call our team to assist on 1800 007 722 (+61 2 8550 5666).

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Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

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