A Seasonal Account from Rural Bank offers tailored day-to-day banking with attractive interest rates. Designed with the needs of rural business in mind, there are no opening balance requirements and a range of convenient access options including cheque book, ATM and Internet Banking. You can also apply for a Seasonal Overdraft facility, which allows you to minimise the number of accounts (and the amount of monthly account keeping fees) you need to run your business.
Discuss these options with your local Rural Bank lending specialist or find more details below.
- No minimum opening or ongoing balance requirement
- A Rural Bank Visa Debit card to give you convenient access to your account*
- Access to Rural Bank's Internet and Phone Banking service 24 hours per day, 7 days a week
- Attractive interest rate on credit balances with interest calculated daily and paid either monthly, quarterly or bi-annually
- Choose from bi-annual, quarterly or monthly statements
- Optional business chequebook
- Optional Seasonal Overdraft facility
*Learn more about banking with Rural Bank and the options for accessing your funds.
Seasonal Overdraft
Rural Bank's Seasonal Overdraft is a daily working capital facility that enables primary producers to finance short-term production costs and cover cash flow short falls. A Seasonal Overdraft is flexible and can be structured to meet your business needs as either a trading or cash flow limit.
- Includes all the features and benefits of a Seasonal Account
- Minimum overdraft is $20,000
- Variable interest rate
- Can be unsecured or use your land, stock, crop or wool as security
- No fixed or minimum repayments are required as long as the amount owing is below the agreed limit. So you can make repayments as you receive your farm proceeds
- Interest is calculated on daily balances and charged monthly
Seasonal Overdraft for livestock trading
Subject to approval, finance can be arranged for up to 50% of the value of your stock. To be eligible, you must be a registered primary producer with land holdings.
- Use the livestock you purchase as security
- Enjoy a competitive variable interest rate
- Take advantage of opportunities to buy and sell livestock for quick returns
If you are looking for longer terms out to three years, Rural Bank has dedicated offerings that can be tailored to meet your needs including Stockbuilder.
Deposits with Rural Bank are covered by the Financial Claims Scheme. The account holder may be entitled to payment under the Financial Claims Scheme. Payments under the Scheme are subject to a limit for each depositor. Information about the Financial Claims Scheme can be obtained from the APRA website at http://www.apra.gov.au and the APRA hotline on 1300 55 88 49.
Downloads (PDF): Seasonal Account Brochure | Business Account Brochure
Interest rates quoted are subject to change without notice. This information has been prepared without taking into account your personal circumstances, objectives, financial situation or needs. Terms, conditions, fees and charges may apply. Full details are available on application, by phoning our Customer Service Centre on 1300 660 115, online or by visiting your local branch. All information is subject to change. Products are issued by Rural Bank Limited.
