Farm Management Account
A tax-effective investment that allows primary producers to set aside pre-tax income as a cash reserve for later years.
- Fixed rate
- 0%
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Fixed Interest rates are available on request for this product. | 0% | — | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| Early Redemption Adminstration Fee This fee may apply when you request to redeem your deposit prior to the maturity date. A reduced Interest Rate applies in addition to this fee. | Exit | From $0.01 |
| Cheque Withdrawal Fee (Farm Management Only) Applies per withdrawal or Interest payment from a Farm Management Account made by cheque. | Withdrawal | $2.25 |
Features
- Digital banking
- Access your account balances 24/7 wherever you are and whenever you want with RAB mobile and internet banking.
- No account keeping fee
- Funds held in a FMD account will be deducted from your assessable income in the year in which the deposit is made. Withdrawals are considered assessable income for that year's tax return. Keep in mind, deposits in the FMD account must be kept for at least 12 months to be eligible for tax benefits.
- Combined balances of up to $250,000 per account holder are guaranteed and secured by the Australian Government.
- Helps balance good and bad times, by allowing eligible customers to set aside their individual pre-tax income in good years as a cash reserve to withdraw from in less profitable years.
Eligibility
- As a customer-owned bank, customers must also become a shareholder of Regional Australia Bank to be eligible to open an account.
- Residency status — Australian ResidentIndividuals must be citizens or permanent residents of Australia.
- To open a Farm Management Deposit account you must first meet special legislative requirements.This includes, but is not limited to being a primary producer as defined by Australian tax law. Please refer to the Regional Australia Bank Product Disclosure Statement for more information.
Constraints
- Maximum balance — $800,000.00Maximum deposit is $800,000.00
- Minimum balance — $1,000.00A minimum $1,000 investment applies to this product.
- Opening balance — $1,000.00A minimum $1,000 investment applies to this product.
More Information
Published by Regional Australia Bank under the Consumer Data Right · Last updated 30 April 2026 · Product ID 3b71cbfb-4ad2-4a6f-8ec9-f5007a9711e2 · View on CDR.gov.au