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Farm loan interest rates

  • 05-09-2012 9:43pm
    #1
    just do it
    Registered Users, Registered Users 2 Posts: 5,422 ✭✭✭


    Anyone know what type of interest rates are being charged to farmers at the moment?
    • For stock/ machinery?
    • For buildings?


Comments

  • #2
    blue5000
    Moderators, Society & Culture Moderators Posts: 12,756 Mod ✭✭✭✭blue5000


    I recently got quoted 4.125 for stock loan but has to be cleared for 1 month in the next 12 months

    If the seat's wet, sit on yer hat, a cool head is better than a wet ar5e.



  • #3
    Sam Kade
    Registered Users, Registered Users 2 Posts: 12,313 ✭✭✭✭Sam Kade


    blue5000 wrote: »
    I recently got quoted 4.125 for stock loan but has to be cleared for 1 month in the next 12 months
    Do you mean that it has to be paid back after 11 months or do you have to make repayments every month?


  • #4
    jimmy G M
    Registered Users, Registered Users 2 Posts: 1,158 ✭✭✭jimmy G M


    blue5000 wrote: »
    I recently got quoted 4.125 for stock loan but has to be cleared for 1 month in the next 12 months

    That's a good rate in today's climate. Less than the variable rate BOI charge for a mortgage. You obviously don't need the money Blue


  • #5
    blue5000
    Moderators, Society & Culture Moderators Posts: 12,756 Mod ✭✭✭✭blue5000


    Sam Kade wrote: »
    Do you mean that it has to be paid back after 11 months or do you have to make repayments every month?

    Just has to be cleared in full for one month within the next 12.

    If the seat's wet, sit on yer hat, a cool head is better than a wet ar5e.



  • #6
    blue5000
    Moderators, Society & Culture Moderators Posts: 12,756 Mod ✭✭✭✭blue5000


    jimmy G M wrote: »
    That's a good rate in today's climate. Less than the variable rate BOI charge for a mortgage. You obviously don't need the money Blue

    I wish:o

    If the seat's wet, sit on yer hat, a cool head is better than a wet ar5e.



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  • #7
    Farmer Pudsey
    Registered Users, Registered Users 2 Posts: 6,326 ✭✭✭Farmer Pudsey


    blue5000 wrote: »
    I recently got quoted 4.125 for stock loan but has to be cleared for 1 month in the next 12 months

    With which bank this is a good rate for what is really an overdraft.


  • #8
    Sam Kade
    Registered Users, Registered Users 2 Posts: 12,313 ✭✭✭✭Sam Kade


    Farmer Pudsey wrote: »
    With which bank this is a good rate for what is really an overdraft.
    It must have been AIB


  • #9
    td5man
    Registered Users, Registered Users 2 Posts: 3,081 ✭✭✭td5man


    Sam Kade wrote: »
    Farmer Pudsey wrote: »
    With which bank this is a good rate for what is really an overdraft.
    It must have been AIB
    Anyone deal with aib recently, looking for a stock loan shortly.


  • #10
    blue5000
    Moderators, Society & Culture Moderators Posts: 12,756 Mod ✭✭✭✭blue5000


    Yes Sam, AIB.

    If the seat's wet, sit on yer hat, a cool head is better than a wet ar5e.



  • #11
    bob charles
    Registered Users, Registered Users 2 Posts: 6,343 ✭✭✭bob charles


    blue5000 wrote: »
    I recently got quoted 4.125 for stock loan but has to be cleared for 1 month in the next 12 months

    yes but its 4.125% for 11 months, which is 4.5% for the year, that I presume you already knew anyway. Am I right in thinking this is a for a fixed medium sized amount? Think the latest building load is 6.5% done within the last 12 months.


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  • #12
    whelan1
    Closed Accounts Posts: 11,786 ✭✭✭✭whelan1


    6.1% over 5 years


  • #13
    kevthegaff
    Registered Users, Registered Users 2 Posts: 7,084 ✭✭✭kevthegaff


    the larger the loan, the smaller the interest rate with BOI. i got a loan last yr and if i had got less than 50k it would have been 6.5:eek: so i got 6%. I have a loan from 5 yrs back rate at 2.5%:) oh ya that was a building loan the 6%


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