Talk to a home loan expert

A variable interest rate is where the interest rate can change over the loan period. The interest rate is influenced by a number of factors including the official cash rate and market changes. This means that your monthly repayments can vary, either increasing or decreasing throughout the loan term.

Variable interest rates offer borrowers flexibility and the potential to take advantage of interest rate decreases. When rates are low, borrowers may enjoy lower repayments and potentially save on interest over time. However, there's also the possibility that interest rates may rise, leading to higher monthly repayments.

A fixed interest rate is where the interest rate remains the same for a set period of time, ranging from one to five years. This means that your monthly repayments remain unchanged throughout the fixed rate term. At the end of the fixed rate period, the loan account will change to the applicable variable interest rate.

Fixed rate loans may be subject to significant break costs.

Note: Offset accounts cannot be linked to fixed rate loan accounts. The Macquarie Offset Home Loan cannot be fully fixed and the variable rate loan account must have a minimum limit of $20,000.

Loan to value ratio, or LVR, is the value of your loan amount as a percentage of the value of your property.

For example, if your loan amount is $800,000 and your property value is $1,000,000 then your LVR is 80%.

Your LVR can change the interest rate you pay. Generally having a lower LVR means you will pay a lower interest rate.

The comparison rate is used by all lenders to help borrowers compare home loan products.

The comparison rate is calculated by taking into account any fees or charges related to a loan, as well as the interest rate. This helps you work out the true cost of a loan and allows you to compare rates amongst other lenders.

At Macquarie, we don't charge many fees, so our comparison rates are relatively similar to the advertised interest rate.

The comparison rate is a rate that is calculated by taking into account any fees or charges related to a loan. The Macquarie Offset Home Loan attracts an annual fee in exchange for the ability to open up to 10 offset accounts, meaning that the comparison rate is higher than the Macquarie Basic Home Loan which has no ongoing fees.

Remember: The interest rate is what you'll be charged, not the comparison rate. The comparison rate is shown to help you compare home loans across lenders inclusive of related fees.

When you apply for a home loan with Macquarie, you’re applying for a home loan ‘facility’ that allows you to set up and manage multiple loan accounts in one place. A Macquarie home loan facility provides you with a single borrowing limit for all your home lending needs.


Within that single borrowing limit, you have the option to set up multiple loan accounts. Each loan account can be tailored by you to meet your needs including:

• loan purpose (owner occupied or investment)
• rate type (variable or fixed)
• repayment type (principle and interest or interest only)

Visit our Help Centre for more information about loan accounts.

When you apply for a home loan with Macquarie, you’re applying for a home loan ‘facility’ that allows you to set up and manage multiple loan accounts in one place. Within that single borrowing limit, you have the option to set up multiple loan accounts. Each loan account can be tailored to meet your individual needs.

If you would like to have a combination of both variable and fixed rates, you can do so by dividing your home loan limit into multiple loan accounts, and selecting a different rate type for each loan account.

Visit our Help Centre for more information about loan accounts.

A Macquarie Basic Home Loan facility is a home loan with no ongoing fees and packed with flexibility.

What’s a home loan facility?

A Macquarie home loan facility allows you to apply for a single borrowing limit for all your home lending needs.

Within that single borrowing limit, you have the flexibility to divide your loan balance into multiple loan accounts.

Each loan account can be tailored with its own:

• Loan purpose (owner-occupied, investment or personal use)
• Rate type (variable or fixed interest rate)
• Repayment type (principal and interest or interest only).

A Macquarie Offset Home Loan facility is a home loan with the flexibility to open offset accounts to reduce the amount of interest you pay, for an annual fee^††.

What’s a home loan facility?

A Macquarie home loan facility allows you to apply for a single borrowing limit for all your home lending needs.

Within that single borrowing limit, you have the flexibility to divide your loan balance into multiple loan accounts.

Each loan account can be tailored with its own:

• Loan purpose (owner-occupied, investment or personal use)
• Rate type (variable or fixed interest rate)
• Repayment type (principal and interest or interest only).