SBS Bank Rural Releases Drought Package For Affected Farmers

25 March 2013.
MEDIA RELEASE

SBS Bank Rural Releases Drought Package For Affected Farmers.

SBS Bank Rural has announced a package which will provide financial relief for drought-affected farmers.

SBS Bank General Manager of Agribusiness and Business Banking, David Backhurst said the package aimed to relieve some of the pressure that drought-impacted member farmers were currently under.

“Looking after the people who bank with us is what SBS Bank Rural is all about. It’s not just talk, it’s the reason we exist. It’s in everyone’s best interests to support our drought-affected farmers to get back to full productivity as quickly as possible, and we’re more than happy to help,” Mr Backhurst said.

The relief package, which is only available in drought declared areas, includes a suspension on loan principal repayments for six months, no fees on debt restructuring, waiver of early term deposit break costs, and reduced flexi overdraft interest rate.

“SBS Bank Rural has been an integral part of the rural landscape for over 143 years and we’re committed to helping our customers get through these tough times. We recognise just how important the rural sector is to the New Zealand economy and we’ll be assisting our rural customers to get back on their feet as quickly as possible.”

ENDS

© Scoop Media