Brillouin light scattering (BLS) and vibrating sample magnetometry (VSM) were used to study the effect of interfacial intermixing and microstructure on the magnetic properties of DC magnetron sputtered Fe/Al multilayers (MLs) on Si(1 0 0) substrate. Three samples with nominal composition [Al (4 nm)/Fe (3.7 nm)] ×18 and deposited under different negative DC bias voltages ( V b = −50, −200 and −400 V) have been investigated. The X-ray diffraction results indicate that the FeAl MLs have a poor crystallinity with no evidence of the absence of B2 phase. The grazing X-ray reflectivity results suggest that the interfacial roughness and intermixing were gradually reduced from 0.7 to 0.5 nm (±0.05 nm) by increasing V b from −50 to −400 V. The magnetization measurements demonstrate the presence of in-plane uniaxial anisotropy and magnetically dead interfacial layers. The BLS results reveal spin-wave surface modes whose frequencies also depend on the applied V b. The same trend upon V b was observed for the perpendicular and in-plane anisotropies.