put money away for a rainy day
Primary producers know what it's like to have great years, and lean years. But it's usually in the middle of one of these troughs that they wish they'd put a little aside from a previous bumper year.
Bankwest offers a rural bank term deposit, specifically for that reason – and when it matures, you have a handy nest of interest to add to your funds.
With a minimum of $1,000 and a maximum of $400,000, it's easy to open a rural bank term deposit and put money away from a great year, in readiness for a lean period. Combine that with excellent interest rates and no fees, and you have a ready-made rainy-day fund.
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