• long running

Transaction/Savings Account 4.75% p.a. Interest on Balance up to $1,000,000 @ Macquarie Bank

2870
Transaction/Savings Account 4.75% p.a. Interest on Balance up to $1,000,000 @ Macquarie Bank
Go to Deal
flud on 15/11/2023 - 14:55 macquarie.com.au (3740 clicks)
Last edited 15/11/2023 - 15:21 by 1 other user

Received this via email:

We’re pleased to let you know that we’re increasing your Macquarie Transaction and Savings Accounts variable ongoing interest rates by 0.25% p.a.

From Friday 17 November 2023, you’ll earn an even higher ongoing variable rate of up to 4.75% p.a. on both your transaction and savings accounts.

We’ll automatically apply this rate increase to your accounts, and you can have confidence that with Macquarie you’re earning a great variable rate – with no fees and no minimum transactions or deposits required.

Financial Bank Account Savings Account Transaction Account

Related Stores

Macquarie Bank
Macquarie Bank

Comments

    • Ade99 on 16/11/2023 - 14:56
      +1

      It is getting dangerous out there….

  • Gavman on 15/11/2023 - 18:32

    Or you can open 4 Ubank accounts (250k in each) and get 5%

    • Igaf on 15/11/2023 - 21:19

      Govt guarantee risk, admittedly small atm

      • sween64 on 29/11/2023 - 12:13

        Same risk with Macquarie

        • Igaf on 29/11/2023 - 14:30
          +1

          There's a risk for any amount above $250K. That's simple to understand if you have above that in a single FI account but it gets complicated where money is spread across accounts which are with the same parent company eg Ubank/NAB. The govt guarantee website shows entities covered.

          • sween64 on 29/11/2023 - 14:44

            @Igaf: So $1m in 1 Macquarie account is the same risk as 4 x $250k in 4 UBank accounts.

            • Igaf on 29/11/2023 - 14:58
              +1

              @sween64: Yes, and $500K in both Ubank and NAB (one entity) as far as the $250K govt guarantee is concerned (a whole range of criteria - assets, investments, reputation etc - will determine whether one FI is a lower or higher risk of failure than another overall).

              https://www.apra.gov.au/list-of-authorised-deposit-taking-in…

              "When determining whether the total value of all your protected accounts with an ADI is below the $250,000 limit, it is important to include any accounts that you hold which have been marketed by the ADI under a different name."

  • altitudinous on 15/11/2023 - 18:36
    +2

    This is a bargain because of the no hoop jumping. I'm going to sign up.

  • ilovefullprice on 15/11/2023 - 19:35
    +1

    How is 4.75% considered high?

    • c64 on 15/11/2023 - 19:55
      +5

      for a transaction account it is friggin' phenominal

      • ilovefullprice on 15/11/2023 - 20:50

        Ah right, and no fees and no minimum transactions or deposits required.

  • SomeCheapAndUse on 15/11/2023 - 20:35

    How about Hiver Bank https://hiver.bank/products/target-saver/
    they have up to 5 mil and 5.5% just no withdraw

    • c64 on 15/11/2023 - 21:50

      great for stashing money you won't use for a month

  • pn09 on 16/11/2023 - 07:31

    I've been getting 5% from AMP since June. Need to put $1k in every month so just have a DD removing $1k and then putting it back in.

    Can withdraw as much as you want as long as you keep putting in $1k every month. I've been down to $0 for a few months and then have some in there again now.

    Transfers come through instantly to CBA.

    Up to $250k

    • Syke123 on 17/11/2023 - 18:17

      AMP Saver Account

      Reach your savings goal faster when you deposit $1,000 or more in the previous month.

      Variable rate effective 01/12/2023
      Up to 5.20% pa

  • Carmen Sandiego on 16/11/2023 - 07:58
    -3

    NAB Reward Saver is going to 5% on the 27th - no minimum or conditions

    • flud on 16/11/2023 - 08:08
      +2

      Receive the variable bonus rate when you make at least one deposit on or before the second last banking day of the month, and no withdrawals

      • Carmen Sandiego on 16/11/2023 - 08:10

        Honestly, that's the best condition you'll get for 5%

        • Igaf on 16/11/2023 - 12:07

          Different strokes as they say. Ubank is better imo (and marginally higher). No withdrawals is too inflexible.

        • spaceflight on 16/11/2023 - 20:16

          No it isn't, it's a horrible condition.

          If you ever need to withdraw money you lose and entire month of interest.

          You may as well be in a flexible account earning less interest.

          Or you could just ubank, have less conditions, withdraw without penalty and get a higher rate

          From https://www.ozbargain.com.au/comment/14567837/redir

          Earn up to 5.10% p.a. on your savings
          Good news for you and your savings! From 1 December 2023, you could be earning up to 5.10% p.a. 🚀

          It’s easy for you to earn more on your savings

          To get the bonus interest rate on your Save account all you need to do is have a Spend account and deposit at least $200 per month into any Spend or Save accounts (not including internal transfers). Simple.

          Your new bonus rate is 5.00% p.a. and is paid on balances up to $250K per customer on top of the 0.10% p.a. base rate.

  • Mattmbgo on 16/11/2023 - 08:43

    Bendigo offering 5.25% for up to 100k i think. Condition being the balance grows

  • triks on 16/11/2023 - 08:59

    I'd say Rabo with 5.75% for 4 months up to 250k can't be beaten at the moment. ING haven't matched them and are still at 5.5%.

  • VBO on 16/11/2023 - 09:07

    st George has 5%

  • edman on 16/11/2023 - 09:37

    I have a SMSF account with AMP that came off its bonus rate last month so looked up Macquarie based on this post, their SMSF option pays at 4.75% as well. But when I checked AMP my account is reporting the rate is at 5.5% even though its nowhere near that for new signups. Not sure if its a glitch but will do the calcs after the next interest payment.

  • H4nd0 on 16/11/2023 - 09:46
    +1

    Macquarie offers 5.40% welcome rate for the first 4 months. Macquarie also has a business savings account currently offering 4.5%. These increase by 0.25% on the 17th. Plus you can purchase discounted gift cards directly via Internet banking. For example, I purchased Apple digital gift cards at 5% off the other day.

  • chrisie on 16/11/2023 - 11:53

    Received this email today from uBank.

    Earn up to 5.10% p.a. on your savings
    Good news for you and your savings! From 1 December 2023, you could be earning up to 5.10% p.a. 🚀

    It’s easy for you to earn more on your savings

    To get the bonus interest rate on your Save account all you need to do is have a Spend account and deposit at least $200 per month into any Spend or Save accounts (not including internal transfers). Simple.

    Your new bonus rate is 5.00% p.a. and is paid on balances up to $250K per customer on top of the 0.10% p.a. base rate.

  • engin3chas3r on 16/11/2023 - 20:48

    anyone know if ING gonna lift there 100k cap for savings?

  • payless69 on 20/11/2023 - 16:48

    Thanks Gretel.

  • payless69 on 06/12/2023 - 07:29
    +1

    Perfect for Ubank haters.

  • Kobe24 on 13/12/2023 - 09:51

    $1mil limit will rule out most of ozbargainers

Login or Join to leave a comment
Login Join