Savings account

Macquarie Savings Account

Current savings rate from Macquarie Bank. Compare the ongoing rate, bonus conditions, introductory offers, and eligibility in one place.

Macquarie Savings Account

View on bank website ↗ 12+

5.00% p.a.

ongoing rate

Rate breakdown

Base rate: 5.00%

How to earn it

Introductory rate

5.35% for 4 months

Then reverts to 5.00% ongoing rate.

Rate current since 22 May 2026.

What to know

This page focuses on the ongoing rate: 5.00% p.a. That is the rate after any honeymoon period ends.

Eligibility: minimum age 12 .

About Macquarie Bank

The Macquarie Bank Savings Account pays a competitive ongoing rate with no monthly conditions required to earn it. There are no minimum monthly deposit requirements, no linked transaction account to maintain, and no withdrawal restrictions that would reduce what you earn.

That puts it among the cleaner no-conditions options in Australia. Most high-interest savings accounts require you to deposit a set amount each month, grow your balance, or make a minimum number of card transactions to earn the advertised rate. Macquarie drops those requirements entirely — the rate you see is the rate you get, month after month.

New customers receive an introductory rate for the first four months, capped at balances up to $250,000. After that period ends, the account reverts to the standard ongoing rate. It is worth comparing carefully — a higher ongoing rate can outperform a flashier intro offer within six to twelve months, depending on your balance.

Macquarie doesn't operate retail branches, and the account is opened and managed entirely online. To open a savings account, you need a Macquarie Transaction Account first — both can be set up at macquarie.com.au. Phone support is available for existing customers. Macquarie Bank is an authorised deposit-taking institution (ADI) regulated by APRA — deposits are protected under the Financial Claims Scheme up to $250,000 per account holder per ADI.

In terms of positioning, the Macquarie Bank Savings Account sits between the Big Four banks — which typically pay lower ongoing rates — and the highest-rate online banks that come with strict monthly conditions. It suits savers who want a competitive rate without monthly hoops, and who are comfortable managing their account online.

Compare more accounts

No-conditions accounts

Earn the full rate without monthly hoops

Accounts above 5%

Every account currently paying 5.00% p.a. or more

Large balance accounts

Accounts with bonus rate caps above $100k

The information on this page is general in nature and does not constitute financial advice. Rates are subject to change — verify directly with the provider before making a financial decision.

Macquarie Savings Account