Macbank parlays its high rate offers into consistent deposit growth, with new business now outstripping all other major rivals

Macquarie is keeping the pressure on its rivals with another term deposit rate increase.

That takes its one year offer up to 5.35%, adding some daylight between Commbank's 5.20% one year 'special' offer and even their 5.25% two year offer.

The Macbank premium to the other main banks is similar.

In fact, all other banks are now playing catch-up.

The momentum is with Macquarie.

In 2026 they have become the consistent top performing bank for winning term deposit and savings market share, all based on high rate offers. It helps that their starting base of deposits is relatively low so that, unlike the main banks, they aren't faced with the rising tide on their embedded base.

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Macquarie may be the star of these shifts, but it is also clear that ANZ is the laggard. However, apart from Commbank which is still in the hunt, both NAB and Westpac are also struggling to win deposit gains.

The only consistent performer is Macquarie.

And offering higher interest rate returns isn't harming their profits. Today Macquarie Group has delivered outsized tax-paid profits of $4.85 bln, up +30% for the full year to Match 2026. Group ROE was 14.8%.

All data noted here is from APRA's monthly statistics.