What is the Macquarie Basic Home Loan variable rate?

The Macquarie Basic Home Loan charges 6.09% p.a. variable (comp. 6.11% p.a.) for owner-occupied P&I loans at up to 70% LVR. The rate is 6.14% p.a. at up to 80% LVR.

Does Macquarie offer an offset account on the Basic Home Loan?

No. The Macquarie Basic Home Loan does not include an offset account. An offset product is available separately (Offset Home Loan) but carries a higher comparison rate due to an annual fee.

What is the maximum LVR for the Macquarie Basic Home Loan?

Macquarie publishes rates up to 95% LVR, though the best rates apply at 60-70% LVR. At 90% LVR the rate increases to 6.34% p.a., and at 95% LVR to 7.14% p.a.

Macquarie Basic Home Loan Review (2026)

Rates and details verified 3 October 2026

Rates can change without notice. Last verified: 3 October 2026 (AEST). Please confirm details on the bank’s official page.

OO P&I (≤70% LVR)

6.09%

p.a. variable (comp. 6.11%)

Investment P&I

6.19%

p.a. ≤60% LVR (comp. 6.21%)

Max LVR

95%

tiered rates apply

About the Macquarie Basic Home Loan

Macquarie Bank is one of Australia's largest investment and retail banks. Their Basic Home Loan is a no-frills variable rate product with a comprehensive published rate schedule — one of the few lenders to publicly list rates at 5 different LVR bands, from ≤60% up to ≤95%.

At 6.09% p.a. for ≤70% LVR, Macquarie sits above the smaller digital lenders (PMG, People's Choice, Unloan, Up Home) but remains mid-pack among the larger banks. The investment P&I rate from 6.19%is reasonable for investors.

Key Rates and Features

Rate / Feature	Detail
OO P&I (≤60% LVR)	6.09% p.a. (comp. 6.11%)
OO P&I (≤70% LVR)	6.09% p.a. (comp. 6.11%)
OO P&I (≤80% LVR)	6.14% p.a. (comp. 6.16%)
OO P&I (≤90% LVR)	6.34% p.a. (comp. 6.36%)
OO P&I (≤95% LVR)	7.14% p.a. (comp. 7.17%)
Investment P&I (≤60% LVR)	6.19% p.a. (comp. 6.21%)
Investment P&I (≤70% LVR)	6.24% p.a. (comp. 6.26%)
Investment P&I (≤80% LVR)	6.29% p.a. (comp. 6.31%)
Interest-only (IO)	Available — contact lender
Offset account	Not on Basic — available on Offset product

Rates as at 3 October 2026. Check Macquarie's rates page for the latest.

Pros and Cons

Pros

✓ Full LVR schedule published — from ≤60% to ≤95%
✓ Competitive investment P&I rates from 6.19%
✓ Big-bank reliability with competitive pricing
✓ Up to 95% LVR available (5% deposit)

Cons

✗ No offset on Basic product
✗ 6.09% — higher than PMG (5.69%), People's Choice (5.99%), Unloan (5.89%), Up (5.95%)

How It Compares

Pacific Mortgage Group Owner Occupied Variable
5.69% p.a. — OO P&I (≤80%)
People's Choice Basic Variable
5.99% p.a. — OO P&I (3 LVR tiers)
Unloan (CBA) Refinance Variable
5.89% p.a. — OO P&I (≤80%), refinance only
HSBC Australia Home Value Loan
5.99% p.a. — OO P&I (≤60% LVR)
Macquarie Bank Basic Home LoanReviewed here
6.09% p.a. — OO P&I (≤70%), full LVR range

→ Compare all home loans

Compare head-to-head

Related guides

FAQs

What is the Macquarie Basic variable rate?

6.09% p.a. OO P&I at ≤70% LVR (comp. 6.11%). At ≤80% LVR the rate is 6.14% (comp. 6.16%).

Is there an offset account?

Not on the Basic product. Macquarie's Offset Home Loan includes offset accounts but carries a higher comparison rate due to an annual fee.

Can I borrow with a small deposit?

Yes — Macquarie publishes rates up to 95% LVR (5% deposit), though at 7.14% p.a. that tier is significantly higher than the base rate.

View Macquarie Home Loan Rates →

Comparison rate based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for the example given and may not include all fees and charges. Information verified 3 October 2026. Confirm rates, fees, and eligibility on Macquarie's website before applying. This is not financial advice.