Macquarie actually runs two different term deposit products, not one. Mixing them up is easy, and most comparison pages blend both into a single table. This guide covers the full current Macquarie Bank term deposit rates for each product, plus how to tell them apart.
This bank is one of 19 compared in our Australia Term Deposit Rates comparison guide.
Quick Answer: Macquarie Bank Term Deposit Rates
Macquarie offers two separate term deposit products. So, the Digital Term Deposit needs a $25,000 minimum. It pays up to 5.15% p.a. for 12 months, with no financial adviser required. The standard Term Deposit needs only $5,000. But it’s mainly for companies, trusts, or individuals working with a financial adviser. It also offers more term options, including short 1-month terms and multi-year terms out to 5 years. Rates and rules genuinely differ between the two. So, check which one you’re actually reading about before comparing numbers.
Which Macquarie Term Deposit Can You Actually Open?
- The Digital Term Deposit is the one most everyday savers can open themselves. So, it’s available to individuals and joint account holders, with no adviser needed.
- It requires a $25,000 minimum deposit. That’s a meaningfully higher bar than many other banks’ term deposits.
- The standard Term Deposit serves a different audience instead. It’s built for companies, trusts, and individuals who go through a financial adviser, not a simple self-service option.
- Its minimum deposit is lower, at $5,000. However, if you’re an individual without an adviser, this product generally isn’t the one you’ll be opening.
Macquarie Bank Term Deposit Rates: The Digital Product
- For deposits of $1 million or under, rates rise with term length. So, a 3-month term pays 5.00% p.a., 6 months pays 5.05%, 9 months pays 5.10%, and 12 months pays 5.15%.
- Deposits over $1 million earn slightly less at every term. In fact, the same terms pay 4.75%, 4.90%, 5.00%, and 5.05% p.a. respectively for larger balances.
- Interest is paid at maturity, not throughout the term. So, you’ll need a linked Macquarie transaction or savings account to receive it.
- There’s no rollover option on this product. Instead, when your term ends, your funds automatically transfer back to your linked account.
Standard Term Deposit Rates (Advisers, Companies, and Trusts)
- This product offers a wider range of terms. It has much shorter and much longer options. A 1-month term pays 2.10% p.a. A 12-month term pays 5.15% p.a. at maturity.
- Multi-year terms exist here too, unlike the Digital Term Deposit. Terms of 2 to 5 years pay around 1.98% to 2.00% p.a. That’s noticeably lower than the shorter terms.
- You can choose how often interest gets paid. Options include at maturity, monthly, quarterly, half-yearly, or annually. Pick whichever suits your cash flow.
- Deposits over $1 million follow a similar but slightly lower pattern. So, the 12-month rate drops from 5.15% to 5.05% p.a. once you cross that threshold.
Rollovers and Early Withdrawal: The Two Products Behave Differently
- The Digital Term Deposit doesn’t roll over automatically. Your money moves to your linked account at maturity. So, you’d need to open a new term deposit yourself if you want to keep reinvesting.
- The standard Term Deposit rolls over automatically instead. Unless you give different instructions before maturity, your funds renew into a new term rather than paying out.
- Breaking a standard Term Deposit early comes with a real cost. The break fee is 25% of the interest you’ve earned so far. That can meaningfully cut into your return.
- Always confirm the current withdrawal terms before you commit. Fee structures and conditions can change, so check them again at the point you actually open the account.
For related reading, see our guides to Judo Bank Term Deposit Rates: The Full Table and Why It’s Shaped This Way and Bendigo Bank Term Deposit Rates: The Full Table (2026).
FAQ: Macquarie Bank Term Deposit Rates
What is Macquarie’s current term deposit rate?
It depends which product. The Digital Term Deposit pays up to 5.15% p.a. on a 12-month term. The standard Term Deposit also pays up to 5.15% p.a. at 12 months. But it offers a wider range of terms, including 1-month and multi-year options.
What’s the minimum deposit for a Macquarie term deposit?
$25,000 for the Digital Term Deposit. That one is open to individuals and joint accounts. $5,000 for the standard Term Deposit, mainly for companies, trusts, or individuals with a financial adviser.
Can I open a Macquarie term deposit without a financial adviser?
Yes, through the Digital Term Deposit. The standard Term Deposit is generally accessed through an adviser, or by companies and trusts directly.
Does Macquarie automatically roll over my term deposit?
It depends on the product. The Digital Term Deposit doesn’t roll over; funds return to your linked account at maturity. The standard Term Deposit rolls over automatically unless you instruct otherwise.
What happens if I withdraw a Macquarie term deposit early?
On the standard Term Deposit, a break fee of 25% of the interest earned applies. Always confirm current early withdrawal terms before committing, since conditions can change.
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