How is the interest on my Farmers Finance Card calculated?
Every month we work out your average daily balance and calculate any interest owing on that balance. We then add this interest to your account and make a note of it on your monthly statement. We calculate any interest owing on your average daily balance. First we worked out your average daily balance by adding up the amount owing on your account each day and dividing by the number of days in the month. Then we work out interest. If your average daily balance was $150, we would calculate your interest as follows:

$150 x 23.95% = $35.93 = Annual interest on your average daily balance

$35.93 / 365 = $0.10 = Daily interest on your average daily balance.

$0.10 x Number of days (eg. 31) = $2.99* = Monthly interest charged to your account. (* Subject to rounding)

How can I avoid paying interest at all?
Your Farmers Finance Card still gives you up to 55 days interest-free credit. So if you always pay off your account balance by the due day each month you won't be charged any interest.

What are the other benefits of my Farmers Finance Card?
There are many other benefits of your card, including up to 55 days interest free, no account fees, and over 4500 different retailers to choose from. Click here to read about all your Farmers Finance Card benefits.