Macquarie Bank Premium Home Loan

Often the premium product will come with a higher price tag, whether you are looking at cars, clothes or home loans. However, in the case of the Macquarie Bank Premium home loan, you are actually getting a discounted product, with an ongoing 0.91% discount on your interest rate with the Optimum Premium package.

The Macquarie Premium home loan can be used by owner occupiers or investors, who are looking for a flexible loan account with inclusive features such as:

• Mix and match. You can create a home loan which perfectly suits your needs by choosing the features you want from both the Macquarie Premium home loan and the Macquarie Line of Credit loan.
• No upfront fees. There is $0 application fee and no settlement fees charged on the Macquarie Premium home loan so you can divert more of your savings towards your deposit, for a lower loan amount.
• Phone and internet banking. Personal finances can easily get out of control when you don’t have all of the facts. That is why Macquarie helps keep you informed with quick and easy access to your account using phone or internet banking.
• Unlimited accounts. After your loan is settled and active, you can create an unlimited number of accounts and allocate different loan features to each account. this means you can choose a variety of variable or fixed interest rates, or principal and interest or interest only repayments for example.
• Interest only repayments. If you are borrowing for an investment or you want to lower your repayments for a period of time, you are able to pay off just the interest which accumulates on the loan in a month, without reducing the principal loan amount.
• Fixed interest rate. You can fix your interest rate for your choice of one to five years on your Premium home loan if you are worried about rising rates, or you simply want some certainty in your budget.

A Macquarie home loan product is also unique and comprehensive in that it allows you to use your mortgage account as a financial hub. Whether you need help with debt management or want to look at your wealth creation options, your Macquarie Premium home loan gives you these opportunities. The Macquarie Premium home loan is also more than a home loan in that you have a global borrowing limit so you can make investments as opportunities arise, rather than going through an approvals process each time.

Add Features to the Macquarie Premium Home Loan

The Macquarie Premium home loan can also be further customised by adding the Optimum Premium package which includes:

• Easy payment package. The Optimum Premium package charges a $398 annual fee, which is charged to your loan account in amounts of $199 every six months.
• A 0.7% interest rate discount. You will receive a 0.91% discount off of the standard variable interest rate for the life of your loan. This means you stay several steps ahead of Reserve Bank decisions at all times.
• Annual fee waiver on the Macquarie Visa Gold or Platinum credit card. To help you manage your cash flow and make every dollar work harder for you, you can add a gold or platinum credit card to your Macquarie home loan account.

To use your Macquarie credit card with your home loan you can choose:

• Macquarie gold credit card. For an annual fee of just $100 you can earn one point for every $1 you spend on your card as well as be protected by overseas travel insurance, purchase protection and an extended warranty.
• Macquarie platinum credit card. With an annual fee of $200 you can boost your points balance by earning 1.25 points for every $1 you spend. You’ll also be able to add four free additional card holders, and be protected by overseas travel insurance, purchase protection, extended warranty, transport accident insurance and in case of flight inconvenience.

How to Use the Macquarie Premium Home Loan

To make the most of your Macquarie home loan, you want to make sure you understand how all of the features and components of the account work, even those which are familiar, such as the interest rate. For example, while the interest on your home loan is calculated daily, it is charged to your loan account on the first business day of each month.

You are also able to top up your loan amount if your home loan balance is less than 80% of your property value, and you have a proven track record of meeting your regular repayments. If you have made additional repayments to your standard variable rate Premium home loan above the minimum monthly repayment amount, you are able to redraw those funds at any time.

If you want to lock in the great features and rates of your Macquarie Premium home loan, you can choose a fixed interest rate term, from one to five years. During that time, your interest rate and your repayments will stay the same. At the end of the fixed rate period your home loan interest rate will revert to the current standard variable rate.

• Comparison of Top 10 Credit Card Offers

Top Home Loans

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
Loans.com.au - Dream Catcher​	A home loan offer with a $0 application fee and one of the lowest available home loan interest rates.	5.85%	6.21%	$0 / $375	80%	$50,000 / $750,000
Bankwest Online Home Loan	A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online.	5.97%	5.97%	$0 / $0	80%	$100,000 / $1,000,000
Illawarra Home Loans Bank Beater Home Loan	A low variable rate, beaten down even further by 0.05% p.a. after 5 years.	6.07%	6.35%	$0 / $345	90%	$250,000 / $1,000,000
State Custodians Mortgage Company Standard Variable Offset Loan	Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years.	6.02%	6.23%	$0 / $345	95%	$150,000 / $1,000,000