Jul 15, 2026 – 4.36pmMacquarie has been winning market share in household deposits from the big four retail banks by offering simple products with competitive interest rates and no strings attached. It will now apply the same strategy to the $320 billion term deposit market, a key source of funding for major lenders.The financial services giant has already snared a 6.4 per cent share of the total $1.7 trillion of household deposits with its “no hoops” savings account that pays interest without conditions, but until now has been a minor player in term deposits.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Macquarie eyes bigger slice of $320b term deposit market
The retail banking disrupter’s head of deposits says there’s been little innovation in the sleepy term deposit market for years, but that will now change.
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