Macquarie Bank Term Deposit Review (2026)
Rates and details verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
Best rate
5.35%
p.a. — 12 months
Minimum deposit
$5,000
up to $1M
Terms available
3m–5yr
full range
About Macquarie Bank Term Deposits
Macquarie Bank is one of Australia's largest investment banks and a full-service ADI. Their term deposit product offers a comprehensive range of terms from 1 month to 5 years, with multiple interest frequency options including at maturity, monthly, quarterly, and half-yearly.
While Macquarie's 12-month rate of 5.35% p.a. sits slightly behind Judo Bank and AMP, the bank's strength is breadth: they publish a full rate schedule across all terms and interest frequencies, making them easy to compare and plan around.
Rates by Term (deposits ≤$1M)
| Term | At maturity | Monthly | Quarterly |
|---|---|---|---|
| 3 months | 4.90% | 4.88% | — |
| 6 months | 5.15% | 5.10% | 5.12% |
| 9 months | 5.20% | 5.11% | 5.13% |
| 12 months | 5.35% | 5.22% | 5.25% |
| 2 years | — | 3.54% | 3.55% |
| 5 years | — | 3.74% | 3.75% |
The sharp drop after 12 months reflects market expectations of lower rates over 2–5 years.
Rates as at 12 May 2026 (Macquarie's published date). Check Macquarie's website for the latest.
Pros and Cons
Pros
- ✓ Full range — 3 months to 5 years
- ✓ Multiple interest frequencies (monthly, quarterly, at maturity)
- ✓ Transparent published rate schedule
- ✓ Major bank — strong brand and online banking
Cons
- ✗ 5.35% — slightly behind Judo (5.45%) and AMP (5.40%)
- ✗ 2-year+ rates drop sharply (3.60% annually)
- ✗ $5,000 minimum
How It Compares
- Judo Bank: 5.45% p.a. — 12 months, $1,000 min
- AMP Bank GO: 5.40% p.a. — 12 months, $5,000 min
- Macquarie: 5.35% p.a. — 12 months, $5,000 min
- Great Southern Bank: 5.35% p.a. — 12 months, $5,000 min
FAQs
What is the Macquarie 12-month term deposit rate?
5.35% p.a. at maturity (for deposits up to $1M). Monthly interest option is 5.22% p.a.
Does Macquarie offer monthly interest?
Yes — monthly, quarterly, and at-maturity options are all available, with at-maturity rates slightly higher.
Why do 2-year+ rates drop sharply?
The rate curve reflects market expectations — investors expect the RBA cash rate to fall over 2–5 years, so lenders pay less for longer deposits.
Rates published by Macquarie as at 12 May 2026; verified 18 May 2026. Confirm on Macquarie's website before applying. This is not financial advice. Deposits protected up to $250,000 under the Financial Claims Scheme.