Farm Management Deposit account

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.

Term depositsBank updated 19 Aug 2026

Product page ↗Fees & pricing ↗Terms ↗

At a glance

Best rate: 4.75% for 12m
12 months: 4.75%
Min deposit: $1,000

§ 01 — Rates · 42

Type	Applies to	Term	Band	Rate	Comparison	Conditions
FixedInterest paid at maturity	—	1 mo	—	1.40%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	1 mo	—	1.40%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	10 mo	—	3.65%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	10 mo	—	3.70%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	11 mo	—	3.70%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	11 mo	—	3.75%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	1 yr	—	4.75%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	1 yr	—	4.75%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	1 yr	—	4.70%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	1 yr	—	4.70%	—	paid every 6 mo; Min deposit amount
FixedInterest paid monthly	—	2 mo	—	1.60%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	2 mo	—	1.65%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	23 mo	—	4.75%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	23 mo	—	4.70%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	23 mo	—	4.70%	—	paid every 6 mo; Min deposit amount
FixedInterest paid at maturity	—	2 yrs	—	4.50%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	3 mo	—	3.20%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	3 mo	—	3.25%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	35 mo	—	4.50%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	35 mo	—	4.45%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	35 mo	—	4.45%	—	paid every 6 mo; Min deposit amount
FixedInterest paid monthly	—	4 mo	—	3.35%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	4 mo	—	3.40%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	47 mo	—	4.00%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	47 mo	—	3.95%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	47 mo	—	3.95%	—	paid every 6 mo; Min deposit amount
FixedInterest paid monthly	—	5 mo	—	3.40%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	5 mo	—	3.45%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	59 mo	—	4.00%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	59 mo	—	3.95%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	59 mo	—	3.95%	—	paid every 6 mo; Min deposit amount
FixedInterest paid monthly	—	6 mo	—	3.35%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	6 mo	—	3.40%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity (Annually)	—	5 yrs	—	4.00%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	5 yrs	—	3.95%	—	paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly	—	5 yrs	—	3.95%	—	paid every 6 mo; Min deposit amount
FixedInterest paid monthly	—	7 mo	—	3.50%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	7 mo	—	3.55%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	8 mo	—	3.55%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	8 mo	—	3.60%	—	paid at maturity; Min deposit amount
FixedInterest paid monthly	—	9 mo	—	3.60%	—	paid at maturity; Min deposit amount
FixedInterest paid at maturity	—	9 mo	—	3.65%	—	paid at maturity; Min deposit amount

§ 02 — Fees · 4

Fee	Type	Amount	When	Notes
Bank cheque Online	Transaction	No fee	—	This includes a customised remittance plus postage and handling
Bank cheque	Transaction	$10	—	—
Refunding / Replacing a Bank cheque - original lost, stolen or destroyed	Transaction	No fee	—	Fee charged per cheque for Bank customers
Refunding a Bank cheque no longer required - original presented	Transaction	No fee	—	Fee charged per cheque for Bank customers

§ 03 — Features

Extra repaymentsRelationship manager

· 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.
· 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 ca…

§ 04 — Eligibility & limits

· Minimum age 18
· Residency: Operating in Australia with an Australian address
· Available to businesses
· Minimum balance $1,000
· Individual primary producer earning no more than $100,000 p.a. in non-farm income in the year of the FMD deposit
· 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.

§ 05 — Compare

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§ 06 — Run the numbers

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Published by Westpac under the Consumer Data Right, last changed by them on 19 Aug 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.