Fixed Repayment Loan
Fixed Repayment Loans over a Five or Ten-year period are offered for the purchase of Irrigation Rights on competitive credit terms as detailed below:
| | 5-year | 10-year
|
| Interest Rate* | 7.4% pa | 7.45% pa
|
| Annual Repayment Amount | $239.88 | $142.08
|
*Note: Interest rate current until 31st May 2007 or unless withdrawn earlier.
The Commission requires that the fixed monthly repayments be made by Direct Debit and whilst the purchaser will have full use and benefit of the Irrigation Right, ownership would remain with the Commission until the loan is repaid in full. Note that the Fixed Repayment Loan contract is also non-renounceable binding commitment.
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