Rural Bank has relesaed its new Farm Management Deposit (FMD) Offset Account. This is the first of its kind to market, following the legislative amendments to the Commonwealth FMD scheme in 2016.
Elders Financial Services are proud to be able to offer this product through their relationship with Rural Bank.
The legislative changes to FMD criteria and benefits recognise the seasonal challenges of Australian Farming and enhance this valuable tool to manage risk and plan for the future.
The new Rural Bank FMD Offset Account allows primary producers to offset funds held in an FMD account against the balance of an eligible variable rate Rural Bank Term Loan to assist in reducing primary production business funding costs.
Additional benefits of the new Rural bank FMD Offset account include:
- No notice period if access to FMD funds is required.
- One low upfront linkage fee per Offset Account, and non ongoing fees.
Clients are obviously encouraged to seek independent financial advice before applying for a Rural Bank FMD Offset Account.