Athena home loans match the full RBA cut again

Athena home loans match the full RBA cut again
Athena home loans match the full RBA cut again

Just 10 minutes after the RBA announced they are further dropping the cash rate by 0.25% today, Athena home loans announced it will be passing on the full rate cut to both existing and new customers.

Effective immediately, the rate drop brings Athena’s rate down to one of the lowest on the market.

They're offering 3.09% for owner occupiers and 3.49% for investors.

Athena CEO and co-founder, Nathan Walsh said, “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."

Since launching in February this year, Athena claim the average customer switching to them from typical big bank rates is saving more than $50,000 over the life of the loan.

Athena was the first non-bank lender to reduce rates last month as well.

The Sydney based online lender announced a new headline variable rate for owner-occupiers paying principal and interest of 3.34 per cent p.a. within 15 minutes of the June RBA decision.

Athena only entered the home loan market this year.

Tags: 
Interest Rates Rba Rate Decision

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