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Ag News

ANZ to provide drought support package for customers

  • By: "Prime" Ag News
  • Jul 14, 2018

ANZ today announced it would provide a drought support package for customers in all drought-declared areas of Australia until 31 July 2019.

Commenting on the support package, ANZ State Director Agribusiness, Ben Barrett said: “While customers in NSW and Queensland are doing it particularly tough at the moment, we know there are farmers across the country that have been adversely impacted by drought.

“We hope these measures help provide some certainty over the next 12 months and we encourage all customers to contact us in times of difficulty so we can provide support to help ease the financial burden,” Mr Barrett said.

The support package includes:
   * Suspension of loan repayments, including credit cards for up to three months (which may include interest capitalisation).
   * Commitment not to increase interest rates on distressed customers and interest rate relief in cases of extreme distress for customers in drought declared areas
   * Waiving fees associated with restructuring business loans considered necessary due to the impact of drought
   * Providing early access to term deposits without incurring any fees for impacted customers
   * Providing access to hardship support services
   * Financial assistance package to support farmers choosing to relocate off the land
   * Increasing funding for rural counselling focussed on towns hardest hit by drought declared areas

ANZ encourages customers impacted by drought to visit their local branch or contact their Agribusiness Manager. Customers can also contact ANZ’s dedicated hardship team on 1800 351 548 or visit www.anz.com/hardship