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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 16 Oct 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

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

Rates

Every rate Westpac publishes for this term deposit, 42 in all.

Its best rate at each term

  1. 1 mo1.40%
  2. 2 mo1.65%
  3. 3 motypical 4.60%3.25%
  4. 4 mo3.40%
  5. 5 mo3.45%
  6. 6 motypical 5.10%3.40%
  7. 7 mo3.55%
  8. 8 mo3.60%
  9. 9 mo3.65%
  10. 10 mo3.70%
  11. 11 mo3.75%
  12. 1 yrtypical 5.30%4.75%
  13. 23 mo4.75%
  14. 2 yrstypical 4.90%4.50%
  15. 35 mo4.50%
  16. 47 mo4.00%
  17. 59 mo4.00%
  18. 5 yrstypical 4.00%4.00%
This term depositTypical institution's best for the term
TypeApplies toTermBandRateComparisonConditions
FixedInterest paid at maturity-1 mo-1.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-1 mo-1.40%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-10 mo-3.70%-paid at maturity; Min deposit amount
FixedInterest paid monthly-10 mo-3.65%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-11 mo-3.75%-paid at maturity; Min deposit amount
FixedInterest paid monthly-11 mo-3.70%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-1 yr-4.75%-paid at maturity; Min deposit amount
FixedInterest paid at maturity-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 at maturity-2 mo-1.65%-paid at maturity; Min deposit amount
FixedInterest paid monthly-2 mo-1.60%-paid every 1 mo; 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 at maturity-3 mo-3.25%-paid at maturity; Min deposit amount
FixedInterest paid monthly-3 mo-3.20%-paid every 1 mo; 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 at maturity-4 mo-3.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-4 mo-3.35%-paid every 1 mo; 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 at maturity-5 mo-3.45%-paid at maturity; Min deposit amount
FixedInterest paid monthly-5 mo-3.40%-paid every 1 mo; 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 at maturity-6 mo-3.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-6 mo-3.35%-paid every 1 mo; 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 at maturity-7 mo-3.55%-paid at maturity; Min deposit amount
FixedInterest paid monthly-7 mo-3.50%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-8 mo-3.60%-paid at maturity; Min deposit amount
FixedInterest paid monthly-8 mo-3.55%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-9 mo-3.65%-paid at maturity; Min deposit amount
FixedInterest paid monthly-9 mo-3.60%-paid every 1 mo; Min deposit amount

Fees

4 fees published, grouped by when they're charged.

When you make a transaction3

  • Bank cheque Online

    This includes a customised remittance plus postage and handling

    No fee
  • Bank cheque
    $10
  • Refunding a Bank cheque no longer required - original presented

    Fee charged per cheque for Bank customers

    No fee

When particular things happen1

  • Refunding / Replacing a Bank cheque - original lost, stolen or destroyed

    Fee charged per cheque for Bank customers

    No fee

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…

Eligibility and 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.

Published by Westpac under the Consumer Data Right, last changed by them on 16 Oct 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.