AUSTRALIAN Government farm business lender, the Regional Investment Corporation, will lift the variable interest rate on all concessional farm business loans — including AgriStarter, Farm Investment, Drought, and AgBiz Drought — by 47 basis points to 4.99 percent from 1 February 2024.
The RIC Plantation Loan variable interest rate will increase to 4.54pc, the corporation announced today.
RIC chief executive officer John Howard said RIC concessional loans play a vital role in strengthening Australian agriculture and helping farm businesses manage their risk.
“This is the first time…
