ANZ vs Macquarie Bank: which home loan suits you?
Last reviewed
ANZ is a big four bank with a full branch and product network; Macquarie is a bank built almost entirely for broker distribution, known for fast credit decisions and strong investor pricing. Both hold full ADI banking licences, so the comparison is really about service model and niche strength rather than safety.
| Attribute | ANZ | Macquarie Bank |
|---|---|---|
| Rate positioning | Tiered basic-vs-package pricing, competitive across owner-occupier and investor loans. | Broker-distributed pricing, often sharp on investor and interest-only products. |
| Offset & redraw | Full offset on the packaged product. | Offset available on variable loans, typically without a package-fee structure. |
| Fees | Annual package fee for full features. | Generally low or no ongoing account-keeping fees. |
| Cashback / promotions | Periodic refinance cashback tied to loan size and LVR. | Targeted broker-channel promotions from time to time. |
| Turnaround / service | Broad branch, phone, digital and broker channel service. | Broker-only distribution with a reputation for fast, direct credit assessment. |
| Borrowing power quirks | Own serviceability model; conservative on some existing debt treatment. | Competitive investor and multi-property assessment; full-doc focus. |
| Best suited to | Borrowers wanting branch access and a broad product suite. | Investors and time-pressured purchasers wanting fast, broker-led service. |
Where each bank plays its strongest hand
ANZ's strength is breadth: branches, business banking, a wide product suite for borrowers who want everything in one place. Macquarie's strength is depth in mortgage lending specifically — a smaller, specialised credit team that has built a strong reputation among brokers for investor and portfolio lending.
For investors specifically
- Macquarie is regularly shortlisted by brokers for clients building a multi-property portfolio, given its comfort assessing more complex serviceability across several existing loans.
- ANZ remains a solid option for a single investment property alongside an owner-occupied home, particularly where a linked offset or package deal is useful.
- Neither lender specialises in adverse credit or alt-doc lending — both want full documentation.
Who should pick which
Choose ANZ if you want branch access and a broad banking relationship alongside your mortgage.
Choose Macquarie if you're an investor or time-pressured buyer who values fast, consultative assessment over a physical branch.
A note on pricing
Indicative only — check current pricing. Rates, fees and cashback offers change frequently and vary by loan purpose, LVR and lender promotion. Nothing on this page is a quote; speak to an XLOANS broker for live pricing from both lenders.
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Frequently asked questions
Indicative only — check current pricing. This page is general information, not financial advice, and does not quote live rates. Lender policy, pricing and cashback offers change frequently. Speak to an XLOANS broker for advice tailored to your situation.
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