Abstract:
Prior to getting the banking permit, Elders Rural Bank used to extend financial assistance to the rural people. After banking license was assigned in 2000, many changes were brought about for the better. The Bank has traveled a long way and currently offers services, which are at par with any bank in the Urban areas.
Elders Rural bank was established as a result of a joint venture between Futuris Corporation Limited and Bendigo Bank Limited. Earlier, the bank assisted the Australian farmers by providing rural finance. Elders rural bank got the status of a bank in the year 2000. Thereafter, the Bank extended various services related to banking in rural Australia.
Elders Rural Bank has managed to widen its customer base by offering the following:
-
Interest rates, which are competitive
-
Commitment to agribusiness
-
It has a wide range of products.
-
Assistance is provided on the farms ("On farm services").
-
Bank security
-
Efficient enough to adapt to dynamic market conditions
-
Applying the knowledge of agribusiness practically.
Elders Rural Bank offers services in various segments of banking sector. Some of the commonly offered services include:
Internet banking:
Internet banking services permits an individual to handle ones banking account online according to ones convenience from the comfort of ones residence or office. Usually the following types of
-
Payment history can be checked.
-
Loan account balances and deposit account balances can be checked.
-
One can also change the PIN or the personal identification number.
-
Transfer of funds can be carried out across financial institutions.
-
Account transactions can be printed.
-
Transitional data may be downloaded.
There are many loans offered by the Elders Rural Bank for various purposes. Each of these loans have several features associated with them. Given below are the different loan types:
-
Stock builder
-
Agri manager
-
Seasonal Overdraft
-
Term loan
Services related to savings and investments are also provided by Elders Rural Bank. Types of services extended pertaining to savings and investment are as follows:
-
Term deposits
-
"Money for Living".
-
"Term Deposit Specials"
-
"ERBonline Savings Account"
-
Farm Management Deposit Account
-
Everyday Account
-
Seasonal Account (without overdraft)
-
Gold Cash Management Account
-
Cash Management Account
-
ERBonline Term Deposit Account
-
Everyday Community Account.