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 

Earn interest

On your everyday balance.

Save on fees

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

Manage cashflow

Manage your exposure to adverse economic events and seasonal fluctuations.

Alternative option

We also have a Farm Management Deposit Cash Management Account.

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. Close

Recent changes aimed at strengthening the banking system mean we now require 31 days’ notice if you want to withdraw your funds before the maturity date. You can still access your money at maturity and during the grace period.

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

Farm Management Term Deposit 
Term  Rate 
1 month 1.50% p.a.
3 months 2.25% p.a.
6 months 2.45% p.a.
9 months 2.40% p.a.
12 months 2.65% p.a.
More
Farm Management Deposit Cash Management
Balance  Rate 
Up to $249,000 0.80% p.a.
From $250,000 1.30% p.a.
More

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 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 Banking Specialists

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Things you should know

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.