Equipment Finance

Finance that can make a difference to your farm profitability. Available on a wide range of assets, including energy efficient assets such as electric farming machinery, solar and batteries.

Important information

Rural Bank products will be transitioned to equivalent Bendigo Bank products on 14 March 2025. While many things are staying the same (e.g. account numbers), there will be some changes. A description of the changes is available in the product variation notices.

Please note: Rural Bank products are no longer available for sale ahead of the transition to Bendigo Bank products.

Features of our Equipment Finance facilities

Preserve working capital by giving you access to the assets your business needs without the capital outlay required to pay for them upfront.

Manage your cash flows with fixed rental/instalment payments.

Provide possible tax benefits where the equipment being financed is used to generate income.

Have the option of starting a new contract with the latest equipment when your current contract ends.

Master Asset Finance Agreements available for existing customers.

Fixed interest rates for the term.

Equipment Finance options

Equipment Loan

Overview

You own the equipment and Rural Bank provides a loan secured against the equipment.

You own the equipment from the start

Yes

You own from the equipment from the end

Yes

Deposit allowed

Yes

Minimum amount

$10,000

Term

1 to 5 years

Fixed rentals/repayments

Yes

Residual/balloon payment

Balloon payment optional

Repayment frequency

Can be tailored to suit your cash flow (monthly, quarterly, half yearly, seasonally or annually)

Tax deductibility

Depreciation on equipment, interest payable and rental payments may be tax deductible.*

Asset Purchase

Overview

Rural Bank purchases the equipment and you buy it from us in instalments.

You own the equipment from the start

You own from the equipment from the end

Yes

Deposit allowed

Yes

Minimum amount

$10,000

Term

1 to 5 years

Fixed rentals/repayments

Yes

Residual/balloon payment

Balloon payment optional

Repayment frequency

Can be tailored to suit your cash flow (monthly, quarterly, half yearly, seasonally or annually)

Tax deductibility

Depreciation on equipment, interest payable and rental payments may be tax deductible.*

Finance Lease

Overview

Rural Bank purchases the equipment and then leases it to you for an agreed period.

You own the equipment from the start

You own from the equipment from the end

Deposit allowed

Minimum amount

$10,000

Term

1 to 5 years

Fixed rentals/repayments

Yes

Residual/balloon payment

Repayment frequency

Can be tailored to suit your cash flow (monthly, quarterly, half yearly, seasonally or annually)

Tax deductibility

Depreciation on equipment, interest payable and rental payments may be tax deductible.*

Hear from one of our customers

Ever heard of a jujube? We have, and soon you will too. Rural Bank helped Bernard McCarthy, Jujube Australia, with finance for a grading machine and cool room facilities, allowing the business to scale up. Getting the fruit to Aussie's in the best possible condition.

Jujube Australia

Not many people know what a Jujube is when you first tell them that you’re a jujube farmer.

The jujube’s a small fruit it’s crunchy like an apple but it's around the size of a plum.

In the past has been a lot of relying on hand sorting, hand grading, now we're trying to find more efficient ways to be able to get the fruit out the door to the customer in the best possible condition.

We've invested in new technology, new machinery, to help us become more efficient.

That's critical for us to scale up to be able to meet the higher production that we're now generating.

Rural Bank was refreshing in that they understood the crop we were growing, they did some figures, they crunched the numbers, they looked at what we’d been doing and came up with an idea of what this crop was worth, not just the value of the land.

We knew at some point as we were increasing our scale we would need to move with technology to help us achieve that, and investing in this grading machine, new cool room facilities has been important to realise that.

Every year we expand, and Rural Bank’s there with us all the way.

Tools to help you

Find out more with these handy links.

Loan comparison

Find a finance solution

Important information

Financial Claims Scheme

Terms, Fees and Charges

Ways to bank

Things you should know

Information is subject to change. All applications for loans or credit are subject to normal lending criteria. Terms, conditions fees and charges apply and are available by phoning our Customer Service Team on 1300 660 115.

Cheque facility is only available on accounts opened prior to 1 August 2023.

*Speak to your taxation advisor for further information about potential tax benefits and selecting the right equipment finance option.