2 min read | 4 Jun 2019
In response to the RBA dropping their cash rate by 0.25% (25 base points) today, home loan disruptor Athena, has announced it has passed on the full rate decrease to both their existing and new customers within minutes of the RBA announcing.
Effective immediately, this rate drop brings Athena’s rate to one of the lowest on the market at 3.34% p.a for owner occupier, principal and interest and 3.74% p.a. for investors.
Proudly not a bank and never will be, Athena has changed the game when it comes to passing on the RBA rate drop to customers.
Athena CEO and co-founder, Nathan Walsh says, “Historically many other lenders have been more than two weeks late in passing on a rate cut. This lag in time has cost Australians $114 million in excess interest costs¹ and equates to $8.2 million each day. Australians deserve much better!
The last RBA rate cut in August 2016, at a time when the majority of major bank lenders lagged in passing the rate drop to their customers. Some of the providers only passed on some of the rate decrease.
Nathan said, “Every minute counts to our customers when it comes to savings. We moved fast so our customers get the benefits, instantly. And today is another milestone in delivering on our promise of helping all customers to pay off their home loan faster.”
Since launching in February this year, Athena has saved homeowners $14 million².
What Athena is famous for:
Stay great rates
Athena gives customers consistently low rates from day-one to day-none and passes on to existing customers the same rates available to new customers on a like-for-like loan.
Athena won’t charge an application, account or exit fees.
For media enquiries and interview with Nathan Walsh, please contact Polkadot Communications Anna MacIntosh / 0411 527 756