Home > Rabobank customers benefit from 0.25% cut in variable base rate on rural loans

Rabobank customers benefit from 0.25% cut in variable base rate on rural loans

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article image Rabobank customers can look forward to a bright future helped by Rabobanks 0.25% cut on variable loan rates

Rabobank Australia, specialists in agribusiness finance and banking has announced that, in line with the Reserve Bank of Australia,  it will be reducing the variable base rate of its rural loans by 0.25% per annum.  

Peter Knoblanche, Rabobank general manager Rural Australia said that, following the Reserve Bank of Australia’s move to cut the official cash rate by 0.25%, Rabobank was pleased to be passing on the entire reduction to its Australian rural clients.  

Mr Knoblanche added “This interest rate cut provides a welcome reduction in costs for many farmers at a time when the Australian agricultural sector has been feeling the pressure from a high dollar and some easing in commodity prices,”  

Mr Knoblanche explains that this is positive news for australia’s agricultural and rural sector which, along with a positive outlook for the grain harvest and excellent growing conditions experienced across the livestock industries, should help to propel the industry towards a strong finish for the 2011 season.  

Rabobank’s rural clients should be aware that the reduced loan rates will be in place from November 18, 2011.

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