Macquarie Bank
A diversified financial group offering digital-only personal banking
Sydney, NSW26 Products TrackedRecently updated
4.85%
Best Savings Rate
4.90%
Best TD Rate
5.59%
Lowest Home Loan
26
Products Tracked
Government Deposit Guarantee (FCS)
Deposits up to $250,000 per account holder are protected under the Financial Claims Scheme. This limit is shared across: Macquarie, Macquarie Bank.
About Macquarie Bank
Macquarie Bank Limited is a subsidiary of Macquarie Group Limited (ASX: MQG), a diversified financial group with over 19,800 employees across 31 markets globally. Founded in 1969, Macquarie Group has delivered 56 years of unbroken profitability. Macquarie Bank's personal banking operations are headquartered in Sydney, NSW.
Macquarie Bank is an Authorised Deposit-taking Institution (ADI) regulated by APRA and holds a standalone ADI licence (no other brands share its FCS coverage). RatePilot tracks Macquarie's savings account, home loans, and term deposits. Macquarie also operates private banking and business banking divisions.
Macquarie's personal banking is entirely digital — there are no physical branches, and cheque facilities are not offered. Accounts are opened via the Macquarie Mobile Banking app or online. Macquarie refunds all Australian ATM fees and charges no fees on transaction, offset, or savings accounts.
Deposits at Macquarie Bank are protected under the Financial Claims Scheme (FCS) up to $250,000 per account holder. As a standalone ADI, the FCS limit is not shared with any other banking brands.
Pros & Cons
✓ Strengths
- +Deposits protected under the Financial Claims Scheme (up to $250,000 per account holder)
- +Standalone ADI licence — no other brands share the FCS limit
- +Part of Macquarie Group (ASX: MQG), a major ASX-listed diversified financial group
- +No account fees, no overseas transaction fees, and all Australian ATM fees refunded
- +No minimum deposit requirements to earn interest or access benefits
✗ Considerations
- –No physical branches — all banking is online or via the app
- –No cheque facilities available
- –No credit cards currently tracked on RatePilot
- –Primarily known as an institutional and investment bank rather than a retail bank
Our Verdict
Macquarie Bank is the banking subsidiary of Macquarie Group, a major ASX-listed diversified financial group. It holds a standalone APRA-regulated ADI licence with FCS protection up to $250,000 per account holder — with no other brands sharing this limit. Its personal banking is fully digital with no branches or cheque facilities, but offers no-fee banking with all Australian ATM fees refunded.
Last reviewed: 10 February 2026
Recent Rate Changes
No recent rate changes recorded for Macquarie