Macquarie Bank today announced it will make changes to interest rates across its variable rate home loan products and variable rate everyday bank accounts following the Reserve Bank’s decision to increase Australia’s official cash rate.
Macquarie will increase variable home loan reference rates by 0.25% p.a. effective from 19 November 2026. Macquarie will also increase the ongoing variable interest rates paid on its transaction and savings accounts by 0.25% from 19 November 2026.
Ben Perham, Head of Personal Banking at Macquarie Bank, said: “With household budgets already feeling the strain, today’s decision by the RBA will be challenging for many Australians. To help our variable home loan customers prepare, we’re again waiting more than two weeks before this latest increase takes effect. At the same time, our transaction and savings account customers will see their variable rates increase, with no monthly fees or complex ‘hoops or catches’ to navigate.”
Perham added: “If you are facing financial hardship or are worried about meeting your home loan repayments, please reach out to our specialist team to understand what financial assistance options may be available.”
Customers can easily apply for financial assistance online at a time that suits them, with our specialist team available to provide tailored support as needed.
Macquarie charges no monthly account keeping fees and no international transaction fees on its Macquarie Transaction Account. It also refunds fees charged by other institutions for withdrawing cash from Australian ATMs when using a Macquarie debit card. On a Macquarie Savings Account there are no Macquarie fees and no monthly conditions – such as minimum deposit requirements or restrictions on withdrawals – to earn its ongoing variable interest rates.
We don’t charge any fees in connection with our transaction and savings accounts but others may. This information doesn’t take into account your objectives, financial situation or needs. Before acting on this information, consider if it’s appropriate for you.
