(1 min read time)

I saw this on the weekend. Elders Rural Bank is the first to market with an FMD offset.

What this means is, if you have say a debt of $2m and then $400,000 in FMDs, simplistically you will only pay interest on $1.6m debt.

So, what should you do? Speak to your bank at your review and tell them that Elders Rural Bank are doing this and ask when they intend to do so. This has been talked about for a long time and is a big win for farmers.

Click here to access the article.

Any questions give me a call.

Cheers,
Ben Law.