Farm Management Deposit account
Term DepositsData Sharing Status
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.
- Fixed rate
- 4.75%
- 12 months
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Fixed Interest paid at maturity | 1.4% | 1 month | at maturity |
| Fixed Interest paid at maturity | 1.65% | 2 months | at maturity |
| Fixed Interest paid at maturity | 3.25% | 3 months | at maturity |
| Fixed Interest paid at maturity | 3.4% | 4 months | at maturity |
| Fixed Interest paid at maturity | 3.45% | 5 months | at maturity |
| Fixed Interest paid at maturity | 3.4% | 6 months | at maturity |
| Fixed Interest paid 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.
Eligibility
- Minimum age — 18 yearsApplicant 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 customersSole 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
Published by Westpac under the Consumer Data Right · Last updated 16 July 2026 · Product ID FarmManagementDepositAccount · View on CDR.gov.au