17 Dec 2013

ANZ offers low interest environmental loans

7:56 am on 17 December 2013

ANZ Bank is offering a low-interest deal for farmers and growers who want to reduce their environmental impact.

The country's biggest rural lender has a new package aimed at farmers looking to improve their productivity through developments such as farm conversions, feed systems, milking technology, stock housing and irrigation.

ANZ agribusiness general manager Ross Verry says it also includes a 4% low-interest loan to help farmers with effluent and water quality compliance.

He says the bank has given its clients the opportunity to separate their environmental loans from their main source of funding and credit facilities.

"So if there's an investment that needs to be made for environmental reasons, for example to comply with local by-laws or improve sustainability, we can effectively ring-fence it."

Mr Verry says it's at a lower interest rate and for a fixed term.