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Home Truths /Once again Athena passes on the full RBA rate cut to all customers, effective immediately

Once again Athena passes on the full RBA rate cut to all customers, effective immediately

2 min read | 2 Jul 2019

July 2019 Rate Cut
July 2019 Rate Cut

The RBA has announced they are further dropping their cash rate by 0.25% (25 base points) today. Once again, home loan disruptor Athena, announced it will proudly be passing on the full rate cut to both existing and new customers within minutes of the announcement.

Effective immediately, this rate drop brings Athena’s rate as one to the lowest on the market from 3.09% p.a for owner occupiers and 3.49% p.a. for investors.

Proudly not a bank and never will be, Athena continues to stay ahead of the curve when it comes to passing on the RBA rate drop to customers.

Athena CEO and co-founder, Nathan Walsh says, “The big banks delayed passing on the June RBA rate cut by as much as 21 days, costing Aussie borrowers over $100M. Lenders who failed to pass on the full savings cost customers a further $280M. Australians are sick of these games”

“In contrast, Athena is committed to helping all customers pay off their home loan faster. We moved quickly to pass on the benefits to all our customers – passing on the full rate cut savings to all customers in minutes not weeks.”

Since launching in February this year, Athena is saving homeowners over $27m over the life of their loan and proudly stands by the model “great rates that stay great”. The average customer switching to Athena from typical big bank rates is saving over $50,000 over the life of the loan.

What Athena is famous for:

  • Automatic Rate Match

    Athena is the only home loan provider to promise existing customers that they will never give new customers a better rate on a like-for-like loan

  • Loyalty Bonus

    Athena offers all customers 0.01% off their home loan rate every year for the 1st five years. The discount is applied for the life of the loan.

  • No fees

    Athena doesn’t charge any ongoing, application, account or exit fees.

For media enquiries and interview with Nathan Walsh, please contact Polkadot Communications Anna MacIntosh / 0411 527 756 or Katy Moore / 0402 754 575

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Athena acknowledges the traditional owners of the land on which we gather the Gadigal people of the Eora nation. We acknowledge that sovereignty was never ceded and respect their continued and continuing connection to this place.