Macquarie Basic Home Loan
Variable or Fixed rateRedraw
A home loan built on value with great rates and no annual fee.
- Interest rate a year, from
- 6.29%
- Comparison rate
- 6.31%
- Upfront fees
- $350
- Annual fee
- None
- Monthly fee
- None
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.29% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,710
- Total repayments
- $1,335,574
- Interest
- $735,574
Rates
Every rate Macquarie publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 60% | 6.29% | 6.31% |
| Variable | Live in | Principal and interest | 60% to 70% | 6.29% | 6.31% |
| Variable | Live in | Principal and interest | 70% to 80% | 6.34% | 6.36% |
| Variable | Live in | Principal and interest | 80% to 90% | 6.54% | 6.57% |
| Variable | Live in | Principal and interest | 90% to 95% | 7.34% | 7.37% |
| Variable | Live in | Interest only | Up to 60% | 6.59% | 6.62% |
| Variable | Live in | Interest only | 60% to 70% | 6.59% | 6.62% |
| Variable | Live in | Interest only | 70% to 80% | 6.64% | 6.67% |
| Variable | Investment | Principal and interest | Up to 60% | 6.39% | 6.41% |
| Variable | Investment | Principal and interest | 60% to 70% | 6.44% | 6.46% |
| Variable | Investment | Principal and interest | 70% to 80% | 6.49% | 6.52% |
| Variable | Investment | Principal and interest | 80% to 90% | 7.35% | 7.38% |
| Variable | Investment | Interest only | Up to 60% | 6.59% | 6.62% |
| Variable | Investment | Interest only | 60% to 70% | 6.59% | 6.62% |
| Variable | Investment | Interest only | 70% to 80% | 6.64% | 6.67% |
| 1 year fixed | Live in | Principal and interest | Up to 70% | 6.49% | 6.34% |
| 1 year fixed | Live in | Principal and interest | 70% to 80% | 6.54% | 6.39% |
| 1 year fixed | Live in | Principal and interest | 80% to 95% | 6.84% | 7.31% |
| 1 year fixed | Live in | Interest only | Up to 70% | 6.84% | 6.64% |
| 1 year fixed | Live in | Interest only | 70% to 80% | 6.94% | 6.70% |
| 1 year fixed | Investment | Principal and interest | Up to 70% | 6.64% | 6.49% |
| 1 year fixed | Investment | Principal and interest | 70% to 80% | 6.69% | 6.54% |
| 1 year fixed | Investment | Principal and interest | 80% to 90% | 7.34% | 7.38% |
| 1 year fixed | Investment | Interest only | Up to 70% | 6.84% | 6.64% |
| 1 year fixed | Investment | Interest only | 70% to 80% | 6.94% | 6.70% |
| 2 year fixed | Live in | Principal and interest | Up to 70% | 6.59% | 6.37% |
| 2 year fixed | Live in | Principal and interest | 70% to 80% | 6.64% | 6.42% |
| 2 year fixed | Live in | Principal and interest | 80% to 95% | 6.94% | 7.28% |
| 2 year fixed | Live in | Interest only | Up to 70% | 6.94% | 6.69% |
| 2 year fixed | Live in | Interest only | 70% to 80% | 7.04% | 6.75% |
| 2 year fixed | Investment | Principal and interest | Up to 70% | 6.74% | 6.52% |
| 2 year fixed | Investment | Principal and interest | 70% to 80% | 6.79% | 6.57% |
| 2 year fixed | Investment | Principal and interest | 80% to 90% | 7.39% | 7.38% |
| 2 year fixed | Investment | Interest only | Up to 70% | 6.94% | 6.69% |
| 2 year fixed | Investment | Interest only | 70% to 80% | 7.04% | 6.75% |
| 3 year fixed | Live in | Principal and interest | Up to 70% | 6.59% | 6.40% |
| 3 year fixed | Live in | Principal and interest | 70% to 80% | 6.64% | 6.45% |
| 3 year fixed | Live in | Principal and interest | 80% to 95% | 6.94% | 7.25% |
| 3 year fixed | Live in | Interest only | Up to 70% | 6.94% | 6.72% |
| 3 year fixed | Live in | Interest only | 70% to 80% | 7.04% | 6.78% |
| 3 year fixed | Investment | Principal and interest | Up to 70% | 6.74% | 6.55% |
| 3 year fixed | Investment | Principal and interest | 70% to 80% | 6.79% | 6.60% |
| 3 year fixed | Investment | Principal and interest | 80% to 90% | 7.35% | 7.38% |
| 3 year fixed | Investment | Interest only | Up to 70% | 6.94% | 6.72% |
| 3 year fixed | Investment | Interest only | 70% to 80% | 7.04% | 6.78% |
| 4 year fixed | Live in | Principal and interest | Up to 70% | 6.64% | 6.44% |
| 4 year fixed | Live in | Principal and interest | 70% to 80% | 6.69% | 6.49% |
| 4 year fixed | Live in | Principal and interest | 80% to 95% | 6.99% | 7.23% |
| 4 year fixed | Live in | Interest only | Up to 70% | 6.99% | 6.76% |
| 4 year fixed | Live in | Interest only | 70% to 80% | 7.09% | 6.83% |
| 4 year fixed | Investment | Principal and interest | Up to 70% | 6.79% | 6.59% |
| 4 year fixed | Investment | Principal and interest | 70% to 80% | 6.84% | 6.64% |
| 4 year fixed | Investment | Principal and interest | 80% to 90% | 7.55% | 7.45% |
| 4 year fixed | Investment | Interest only | Up to 70% | 6.99% | 6.76% |
| 4 year fixed | Investment | Interest only | 70% to 80% | 7.09% | 6.83% |
| 5 year fixed | Live in | Principal and interest | Up to 70% | 6.64% | 6.47% |
| 5 year fixed | Live in | Principal and interest | 70% to 80% | 6.69% | 6.52% |
| 5 year fixed | Live in | Principal and interest | 80% to 95% | 6.99% | 7.21% |
| 5 year fixed | Live in | Interest only | Up to 70% | 6.99% | 6.79% |
| 5 year fixed | Live in | Interest only | 70% to 80% | 7.09% | 6.87% |
| 5 year fixed | Investment | Principal and interest | Up to 70% | 6.79% | 6.62% |
| 5 year fixed | Investment | Principal and interest | 70% to 80% | 6.84% | 6.67% |
| 5 year fixed | Investment | Principal and interest | 80% to 90% | 7.55% | 7.47% |
| 5 year fixed | Investment | Interest only | Up to 70% | 6.99% | 6.79% |
| 5 year fixed | Investment | Interest only | 70% to 80% | 7.09% | 6.87% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $350
- Annual fee
- None
- Monthly fee
- None
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 95%
- Loan amount
- From $150,000 up to $10,000,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Variable rate
6.34%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
6.36%
For the same rate. Typical is 6.70%.
Upfront fees
$350
Typical upfront fees are $600.
Annual fee
None
A typical annual fee is $350.
Smallest deposit
5%
Most loans need at least 10% of the price.
Pros and cons
Pros
- No annual fee. Nothing extra to pay each year over the life of the loan.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- Redraw. You can take back extra repayments later if you need the money.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 6.34%
- Comparison rate
- 6.64%
- Variable rate from
- 6.34%
- Comparison rate
- 6.39%
- Variable rate from
- 6.34%
- Comparison rate
- 6.37%
