| ||Rate cut benefits passed on to growers|| ||
AWB Limited Chief Executive, Mr Andrew Lindberg, today announced a further 0.50% reduction in its interest rates on the National Pool Harvest Payment loan.
This follows the announcement by the Reserve Bank of Australia to cut official interest rates by 0.50%. AWB’s new interest rate reduction follows on from its March rate cut of 0.25%.
The 0.50% rate cut will come into effect on Wednesday 18th April 2001.
Mr Lindberg said the reduced rates would apply across all tiers of Harvest Payment Loans.
“AWB Limited’s competitive financing is now even more so and applies to all grades of wheat.
“AWB are pleased we can immediately pass on the benefit of falling official interest rates to Australian wheat growers,” Mr Lindberg said.
AWB Limited’s Indicator rate is now 7.75%. Discounts apply for larger Harvest Payment Loans, and a 0.25% loyalty discount also applies for growers who take the Harvest Payment options for all their pool deliveries.
| Loan size
|| AWB Indicator Rate Indicator
|| Rate with Loyalty Bonus
| Up to $149,999
| $150,000 - $249,999
| $250,000 - $499,999
| $500,000 plus
For further information contact:
Peter McBride, Public Affairs, AWB Limited on (03) 9209 2174 or 0417 662 451