Drought Assistance Package
In response to the exceptional drought circumstances affecting many Australians, we have extended our ongoing support to existing customers under a new Drought Assistance Package. We have committed $100 million to support our farmer and agribusiness customers.
We will be introducing the following for our Agribusiness customers:
- Creation of a $100 million fund to provide carry on finance loans of up to $1 million to existing eligible BankSA agribusiness customers at a heavily-discounted variable interest rate1
- Giving drought-impacted customers the option to defer principal and interest repayments on existing business term loans and equipment finance for up to 12 months2
- Offering an interest adjustment for our customers with Farm Management Deposit (FMD) to effectively offset FMD balances against their eligible business loans3.
Drought relief resources
For more information
Important information
1 Business Loan terms of up to 3 years at a customer group level.
2 During the 12 month deferment of interest repayments, interest will continue to be applied to the loan balance.
3 The interest adjustment will be applied to those customers who accept the offer and will be calculated for the current financial year based on the relative balances of the farm management deposit and the eligible business loans.