Banking Surveys

November 2017 Banking Survey Summary

  • Farmer’s overall satisfaction with banks remains strong and stable.
  • 81% of farmers are satisfied or very satisfied with their banks.
  • 75% of farmers think communication with their bank has been good or excellent.
  • 8% of farmers feel they have come under undue pressure over the past six months.
  • The average mortgage interest rate is 5.2%.
  • The average overdraft interest rate is 7.5%.
  • 61% of farmers have detailed and up-to-date budgets for the current season, while 20% also have budgets for next season

The next survey will be undertaken in May 2018.