6 Mar 2013

Banks announce drought relief measures

5:34 am on 6 March 2013

Two banks have announced measures to help drought-affected farmer customers.

ANZ Bank, the biggest rural lender, it will waive fees and provide farmers with access to short term funding to help them cope financially with on-farm costs arising from the dry weather.

It will also waive the fees associated with breaking term deposits early so farmers can access their cash.

BNZ says it will help by donating $5000 to each of the Rural Support Trust chapters in declared drought zones.

It will also provide farmers with immediate overdraft approval for loans up to $100,000 at discounted interest rates.