---
title: "Farm Management Deposit account — Westpac"
description: "Term Deposits from Westpac. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/westpac/products/FarmManagementDepositAccount
source: "CDR Compare"
language: en-AU
last_updated: 2026-08-19T08:58:35Z
---

# Farm Management Deposit account — Westpac

> Term Deposits from Westpac. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare.

**Term Deposits**

The FMD scheme is a government initiative that helps farmers save money during good years. This money can be used later in tough times to help keep their income.

## At a glance

- **Fixed rate:** 4.75% (1 year)

## Deposit rates

| Type | Rate | Applies to | Interest paid |
| --- | --- | --- | --- |
| Fixed · 1 month (Interest paid at maturity · Minimum deposit amount) | 1.4% | 1 Month | at maturity |
| Fixed · 2 months (Interest paid at maturity · Minimum deposit amount) | 1.65% | 2 Month | at maturity |
| Fixed · 3 months (Interest paid at maturity · Minimum deposit amount) | 3.25% | 3 Month | at maturity |
| Fixed · 4 months (Interest paid at maturity · Minimum deposit amount) | 3.4% | 4 Month | at maturity |
| Fixed · 5 months (Interest paid at maturity · Minimum deposit amount) | 3.45% | 5 Month | at maturity |
| Fixed · 6 months (Interest paid at maturity · Minimum deposit amount) | 3.4% | 6 Month | at maturity |
| Fixed · 7 months (Interest paid at maturity · Minimum deposit amount) | 3.55% | 7 Month | at maturity |
| Fixed · 8 months (Interest paid at maturity · Minimum deposit amount) | 3.6% | 8 Month | at maturity |
| Fixed · 9 months (Interest paid at maturity · Minimum deposit amount) | 3.65% | 9 Month | at maturity |
| Fixed · 10 months (Interest paid at maturity · Minimum deposit amount) | 3.7% | 10 Month | at maturity |
| Fixed · 11 months (Interest paid at maturity · Minimum deposit amount) | 3.75% | 11 Month | at maturity |
| Fixed · 1 month (Interest paid monthly · Minimum deposit amount) | 1.4% | 1 Month | at maturity |
| Fixed · 2 months (Interest paid monthly · Minimum deposit amount) | 1.6% | 2 Month | at maturity |
| Fixed · 3 months (Interest paid monthly · Minimum deposit amount) | 3.2% | 3 Month | at maturity |
| Fixed · 4 months (Interest paid monthly · Minimum deposit amount) | 3.35% | 4 Month | at maturity |
| Fixed · 5 months (Interest paid monthly · Minimum deposit amount) | 3.4% | 5 Month | at maturity |
| Fixed · 6 months (Interest paid monthly · Minimum deposit amount) | 3.35% | 6 Month | at maturity |
| Fixed · 7 months (Interest paid monthly · Minimum deposit amount) | 3.5% | 7 Month | at maturity |
| Fixed · 8 months (Interest paid monthly · Minimum deposit amount) | 3.55% | 8 Month | at maturity |
| Fixed · 9 months (Interest paid monthly · Minimum deposit amount) | 3.6% | 9 Month | at maturity |
| Fixed · 10 months (Interest paid monthly · Minimum deposit amount) | 3.65% | 10 Month | at maturity |
| Fixed · 11 months (Interest paid monthly · Minimum deposit amount) | 3.7% | 11 Month | at maturity |
| Fixed · 1 year (Interest paid at maturity (Annually) · Minimum deposit amount) | 4.75% | 12 Month | at maturity |
| Fixed · 23 months (Interest paid at maturity (Annually) · Minimum deposit amount) | 4.75% | 13 Month | at maturity |
| Fixed · 35 months (Interest paid at maturity (Annually) · Minimum deposit amount) | 4.5% | 24 Month | at maturity |
| Fixed · 47 months (Interest paid at maturity (Annually) · Minimum deposit amount) | 4% | 36 Month | at maturity |
| Fixed · 59 months (Interest paid at maturity (Annually) · Minimum deposit amount) | 4% | 48 Month | at maturity |
| Fixed · 5 years (Interest paid at maturity (Annually) · Minimum deposit amount) | 4% | 60 Month | at maturity |
| Fixed · 1 year (Interest paid monthly · Minimum deposit amount) | 4.7% | 12 Month | monthly |
| Fixed · 23 months (Interest paid monthly · Minimum deposit amount) | 4.7% | 13 Month | monthly |
| Fixed · 35 months (Interest paid monthly · Minimum deposit amount) | 4.45% | 24 Month | monthly |
| Fixed · 47 months (Interest paid monthly · Minimum deposit amount) | 3.95% | 36 Month | monthly |
| Fixed · 59 months (Interest paid monthly · Minimum deposit amount) | 3.95% | 48 Month | monthly |
| Fixed · 5 years (Interest paid monthly · Minimum deposit amount) | 3.95% | 60 Month | monthly |
| Fixed · 1 year (Interest paid half-yearly · Minimum deposit amount) | 4.7% | 12 Month | every 6 months |
| Fixed · 23 months (Interest paid half-yearly · Minimum deposit amount) | 4.7% | 13 Month | every 6 months |
| Fixed · 35 months (Interest paid half-yearly · Minimum deposit amount) | 4.45% | 24 Month | every 6 months |
| Fixed · 47 months (Interest paid half-yearly · Minimum deposit amount) | 3.95% | 36 Month | every 6 months |
| Fixed · 59 months (Interest paid half-yearly · Minimum deposit amount) | 3.95% | 48 Month | every 6 months |
| Fixed · 5 years (Interest paid half-yearly · Minimum deposit amount) | 3.95% | 60 Month | every 6 months |
| Fixed · 1 year (Interest paid at maturity · Minimum deposit amount) | 4.75% | 12 Month | at maturity |
| Fixed · 2 years (Interest paid at maturity · Minimum deposit amount) | 4.5% | 24 Month | at maturity |

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| Bank cheque | Transaction | $10.00 |
| Bank cheque Online — This includes a customised remittance plus postage and handling | Transaction | $0.00 |
| Refunding a Bank cheque no longer required - original presented — Fee charged per cheque for Bank customers | Transaction | $0.00 |
| Refunding / Replacing a Bank cheque - original lost, stolen or destroyed — Fee charged per cheque for Bank customers | Transaction | $0.00 |

## Features

- **Cash reserves - Build up cash reserves in the good years to help safeguard your future.**
- **Regular income - Earn a fixed interest rate over the chosen term. Early withdrawal may reduce returns.**
- **Tax benefits - Eligible income needs to be deposited for a year to qualify. Exceptions apply.**
- **Extra repayments** (Subject to Terms and conditions, extra repayments is available for eligible customers)
- **Relationship management** (Relationship management is available for eligible customers.)
- **Safe and secure savings**
- **Could earn higher interest than a standard savings account.**
- **Online, Term Deposits can only be opened with a minimum term of one month, however once matured they can be renewed for terms ranging from 7 days to 5 years: if opened through a staff member, they can be established for terms as short as 7 days.**

## Eligibility

- **Minimum age** — 18 years (Applicant should be 18 years or over)
- **Residency status** — Operating in Australia with an Australian address
- **Individual primary producer earning no more than $100,000 p.a. in non-farm income in the year of the FMD deposit**
- **Business customers** (Sole trader, partner in a partnership, or beneficiary of a trust)
- **Most you can have invested across all your FMDs with one or more banks: $800,000**
- **You must comply with the ATO Farm Management Deposits Scheme special legislative requirements.**

## Constraints

- **Minimum balance** — $1,000.00
- **Maximum balance** — $800,000.00

## More information from Westpac

- [Overview](https://www.westpac.com.au/business-banking/savings-accounts/agri-farm-management-deposit/)
- [Terms & conditions](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/pb/TermDepositsPDS.pdf)
- [Eligibility](https://www.westpac.com.au/business-banking/savings-accounts/agri-farm-management-deposit/)
- [Fees & pricing](https://www.westpac.com.au/business-banking/savings-accounts/agri-farm-management-deposit/)

## Data provenance

- Published by Westpac under the Consumer Data Right
- Product ID: `FarmManagementDepositAccount`
- Last updated by the provider: 19 August 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/westpac/FarmManagementDepositAccount
- Provider page: https://www.cdrcompare.au/brands/westpac
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000002

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/westpac/products/FarmManagementDepositAccount) — product data published by Australian data holders under the Consumer Data Right. Not financial advice; no rankings, recommendations or affiliate relationships. Always confirm details with the provider.

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