Get ahead, rain or shine – open your account today and make the most of every season. Our Farm Management Deposit Accounts are some of the most competitive on the market. Start investing with as little as $1,000 and choose from terms of 12 or 24 months. Get in touch today, and we’ll help your money work harder for you.
To be eligible to claim a deduction for a deposit into an FMD account, you must:
- Be an individual (including a partner or trust beneficiary)
- Be running a primary production business in Australia at the time of deposit
- Have no more than $100,000 in taxable non-primary production income for the year
- Hold no more than $800,000 in FMDs
- Note: Companies and other entities are not eligible and deposits cannot be made jointly. Trustees can deposit on behalf of a beneficiary under legal disability (e.g. a minor).
Earn up to
4.65 % PA
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Interest Rate
| Maximum rate | 4.65% pa |
| Term | Deposit $1,000 > $800,000 |
|---|---|
| 12 months | 4.65% pa |
| 24 months | 4.30% pa |
Features
| Availability of funds | At maturity |
| Minimum Deposit | $1,000 |
| Maximum Deposit | $800,000 |
| Early withdrawal penalty | 2% interest reduction |
| Interest income | At maturity |
| Mortgage offset | No |
| Overdraft | No |
| Passbook access | No |
| ATM/EFTPOS access | No |
| Direct Credits | No |
| Direct Debits | No |
| Visa Debits | No |
| Visa credit transaction | No |
| Branch transactions | At maturity only |
| Phone, Internet and Mobile Banking | Balance only |
| Phone Internet and Mobile BPAY | No |
| PayID and Osko | No |
| Periodic payments | No |
| Statements | Issued 6 monthly |
Please note: Fees and charges apply. Interest rates are subject to change without notice. For more details, please check the Farm Management Deposit Scheme guidelines available here:
