Macquarie Bank Ends New Car Loan Services to Enhance Home Loan Offerings

Ben Perham, Head of Personal Banking at Macquarie, stated that this decision will enable the bank to further prioritize the growth of its home loan and deposit offerings. He emphasized that their leading digital experiences for these products are built on best-in-class technology platforms, presenting significant opportunities for continued investment to attract more customers to Macquarie.

Existing car loan and novated leasing customers will not be affected by this change and will continue to receive support until their agreements conclude. For the direct channel, applications submitted by April 22 must be settled by May 17, if approved. For the broker and novated leasing channels, applications submitted by April 24 should be settled by May 17.

This strategic shift reflects Macquarie's focus on strengthening its position in the home loan market, leveraging its technological capabilities to enhance customer experiences and expand its customer base.