Minimum deposit $1,000
Flexible selection of paid-interest frequencies
No monthly service fees

With our Farm Management Deposit account, you can smooth out the ups and downs of being a primary producer by setting aside some of your pre-tax income during the good times. This way, you'll have a cash reserve to dip into when things aren't as profitable.

When you put money into a Farm Management Deposit account, it gets deducted from your taxable income for that year. When you withdraw it, it'll count as income for that year's tax return.

Your deposits need to stay in the Farm Management Deposit account for at least 12 months to enjoy those tax benefits!

Features

  • No monthly account service fees.
  • Minimum deposit of only $1,000.
  • Competitive fixed interest rates to help you plan for the future.
  • A choice of terms from 3 months to 2 years to meet your needs and cashflow.
  • Interest paid monthly, annually or at maturity (subject to the term selection).
  • Possible tax benefits for amounts held in the account for at least 12 months.

Eligibility criteria

  • Be a primary producer;
  • Be an individual (incl. a partner in a partnership or beneficiary of a trust);
  • Be carrying on a primary production business in Australia when a deposit is made  
  • Have no more than $100,000 in taxable non-primary production income in the income year a deposit is made; and
  • Hold no more than $800,000 in total in Farm Management Deposit accounts.

For further information on FMDA eligibility criteria and conditions refer to the Australian Government Department of Agriculture and Water Resources and also the Australian Taxation Office.

sugar cane field

Rates & Fees

Investment Period Interest Paid at Maturity $1000 < $800,000 Interest Paid Monthly $1000 < $800,000 Interest Paid Annually $1000 < $800,000
3 Months 3.50 Interest rate 3.50 Interest rate N/A
6 Months 4.05 Interest rate 4.05 Interest rate N/A
12 Months 4.65 Interest rate 4.55 Interest rate N/A
2 Years 4.30 Interest rate 4.20 Interest rate 4.30 Interest rate
All interest rates quoted are per annum and are calculated on a tiered basis with interest paid on the entire balance at the applicable tiered interest rate. Effective Thursday 27 March 2025
Fees
Monthly fee $0

12 Month Interest Paid at Maturity Featured Rate

4.65 Percent per annum

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The fine print

Interest on Farm Management Deposits (FMDs) is paid to your Nominated Account either monthly or annually in arrears, or at maturity (according to your instructions at the time of deposit) from the day on which the deposit was made or re-invested.

If you choose to withdraw whole or part of the balance of a Farm Management Deposit Account within 12 months, you can't claim a tax deduction for that amount. If you choose to withdraw whole or part of the balance of your Farm Management Deposit prior to maturity, an early redemption fee may apply. Fees and charges cannot be deducted from a Farm Management Deposit Account and will be collected from you separately. Please refer to the Account and Access Facility Conditions of Use for further details.

Please be aware that interest rates may change at any time prior to an agreement being entered into.

This material has been prepared without taking into account your objectives, financial situation or needs ('your circumstances'). Before making a decision about deposit products, consider whether any advice given is appropriate to your circumstances, and refer to the Financial Services Guide; Target Market Determination; Fees and Charges brochure; Account and Access Facility Conditions of Use; and Deposit Interest Rates Schedules to determine if the product is right for you. You should also seek your own taxation advice as to whether this product is suitable for you.