CBH Group cut interest rate on finance products
The CBH Group is pleased to advise it has lowered the variable interest rate on its finance products by 0.50 per cent, with rates now starting from the lowest level ever offered in the products’ history.
Commencing this week on 3 September 2019, the variable interest rate will now start from a low of 3.45 per cent for Grain For Fert and 4.45 per cent for Pre-Pay Advantage.
CBH Structured Commodity Products Manager Paul Smith said the cost to fund the finance products has reduced in recent months, in line with the broader easing of interest rates in Australia.
“CBH is passing on this cost reduction directly to existing clients and also to new clients who are looking to get on top of their cash flow requirements for the current season, or who may want to get a head start on the next,” Mr Smith said.
“The new reduced rates for Pre-Pay Advantage and Grain For Fert allows growers to access funding at variable interest rates starting from the lowest level offered in the products’ history.”
Pre-Pay Advantage is a unique product that allows growers to receive a prepayment prior to harvest in return for a commitment of grain, while providing growers the flexibility to draw down on their funds whenever they need it during the season.
Grain For Fert allows growers to purchase CBH Fertiliser in return for a commitment of grain.
The reduction in the variable interest rate follows a new feature incorporated into both products this year that allows growers the freedom to market their grain to whomever they choose once their facility has been repaid.
Mr Smith said CBH will continue to monitor the national funding environment to ensure its products represent value for both new and existing customers.