Farmers affected by floods facing loan difficult could ask their bankers to give them a repayment holiday and or interest only payments to aid recovery.

“Why would anyone invest their money on term deposit with the major banks at 3.35% when the government also guarantees term deposits placed with Macquarie Bank at 4.1%, AMP at 4.1% and Rabobank at 3.9%”, asks banking consultant GBAC?

 

Unsecured loan defaults, changing banks, need strategic investigation, negotiation and persuasion.