Banks cut rates for farmers

Suncorp Agribusiness, Commonwealth Bank Agribusiness, ANZ Agribusiness and NAB Agribusiness have each reduced their term loan rates by between 0.20 percent and 0.25 percent in response to the official RBA reduction of 0.25 percent.

The NFF Agribusiness Loan Monitor shows that the Commonwealth Bank Agribusiness and Suncorp Agribusiness have both dropped their term loan rates by 0.25 percent, while ANZ Agribusiness has reduced its business loan variable rate by 0.23 percent and NAB Agribusiness by 0.20 percent.

In overdrafts, Suncorp Agribusiness has reduced its rate down by 1.64 percent, while the Commonwealth Bank has made a reduction of 0.25 percent.

Source: Stock & Land