CBA vs Macquarie Bank: which home loan suits you?
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Macquarie Bank has grown quickly in the mortgage market by leaning almost entirely on the broker channel and a reputation for fast, human credit assessment — a sharp contrast to CBA's scaled, largely automated retail process. Both are APRA-regulated banks, but the experience of applying with each can feel very different.
| Attribute | CBA | Macquarie Bank |
|---|---|---|
| Rate positioning | Broad tiered pricing across the full range of loan purposes and LVRs, backed by deep retail funding. | Competitive, broker-distributed pricing; Macquarie has periodically led on investor and interest-only rates relative to the majors. |
| Offset & redraw | Full offset on packaged variable loans. | Offset available on variable loans without the annual package fee structure typical of the big four. |
| Fees | Annual package fee for the full-feature bundle. | Generally low or no ongoing account-keeping fees on its home loan products. |
| Cashback / promotions | Periodic refinance cashback offers, LVR and loan-size capped. | Has run its own targeted refinance and cashback promotions via the broker channel. |
| Turnaround / service | Large centralised credit team; can be efficient but subject to volume-driven delays. | Known in the broker market for fast, responsive credit assessment and direct access to a case manager — no retail branch network, broker- and app-based only. |
| Borrowing power quirks | Conservative treatment of existing investment debt and some variable income types. | Own serviceability model; often competitive for investors and borrowers with multiple properties. |
| Best suited to | Borrowers who want a nationwide branch presence and a very broad product suite. | Borrowers (often investors or time-pressured purchasers) who value fast turnaround and are comfortable applying only via a broker or app. |
Distribution model is the real difference
CBA writes loans through branches, its own digital channel and brokers. Macquarie writes almost all of its mortgage volume through mortgage brokers and has no retail branch network — which is part of why its credit decisioning tends to be faster and more consistent: a smaller, specialised team assessing every file rather than a mass-market queue.
Where Macquarie has built a reputation
- Investor lending and multi-property portfolios, where a faster, more consultative assessment process suits complex structures.
- Time-sensitive settlements, such as auction purchases, where turnaround speed can matter more than a marginal rate difference.
- Borrowers who prefer dealing with a broker as the single point of contact rather than a call centre.
Who should pick which
If you want the broadest branch and product ecosystem — everyday accounts, business banking, insurance — CBA's scale is hard to match.
If speed, a more consultative assessment and competitive investor pricing matter more than a physical branch, Macquarie is consistently one of the first lenders brokers shortlist for time-pressured or portfolio-building clients.
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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