Farm Management Term Deposit

If you’re an eligible primary producer, improve your cash flow in leaner times by depositing before tax income into our interest paying deposit account.

Benefits 

Guarantee your return

Lock in a fixed rate for a range of terms from one month to 12 months.

Save on fees

No account keeping or transaction fees. 1 Other fees and charges may apply.

Manage cashflow

Manage your exposure to adverse economic events and seasonal fluctuations.

How it works

This account allows you to shift before tax income from years when you need it least to years when you need it most. 2

The initial deposit must be at least $1,000 and not more than $800,000 at any time in any year of income. 3 If a minimum balance of $1,000 is not maintained by you throughout the term, your tax entitlements may be adversely affected.

Changes aimed at strengthening the banking system mean we require 31 days' notice if you want to withdraw your funds before the maturity date. This can also affect the interest that we pay you. You can still access your money at maturity and during the grace period. 4

Effective 1 July 2016, you may hold more than one FMD Account across financial institutions, but the aggregate balance of all accounts during any year of income must not exceed $800,000.

Rates

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Farm Management Term Deposit 
Term  Rate 
1 month 0.05% p.a.
3 months 0.20% p.a.
6 months 0.50% p.a.
9 months 0.25% p.a.
12 months 0.50% p.a.
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Note: Rates may change between now and when you apply for the Term Deposit.

Get started

Check your eligibility

  • You're an individual (see our product schedule (PDF) for more details)
  • You’re a primary producer with a taxable non-primary production income of up to $100,000.

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Business Specialists Team

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Business Banking Specialists

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  1. Other fees and charges may apply.

  2. Specific requirements applying to this account are set out in the Income Tax Assessment Act 1997 (Cth). A breach of the requirements may result in the deposit not being treated as a Farm Management Deposit and the loss of Tax Benefits. The above is not tax advice. Prior to making a deposit, we recommend that you obtain advice from an independent tax adviser.

  3. If a minimum balance of $1,000 is not maintained by you throughout the term, your tax entitlements may be adversely affected.

  4. You may request the withdrawal of all or part of your funds prior to the maturity date provided that you give 31 days’ notice. If your Term Deposit has less than 31 days to maturity, you will only be able to access funds on the maturity date. The notice period starts on the day you request withdrawal. If you are experiencing hardship and need your funds before maturity, please contact us. If you withdraw all or part of your funds prior to the maturity date, your entitlement to interest in respect of the deposit will be reduced, according to when an early repayment is made. Please refer to the Term Deposits Terms & Conditions for further details.