Setting money aside for another day

Farm management deposits (FMDs) can help you smooth out the ups and downs associated with the business of agribusiness over the years; set aside pre-tax income in good years for use in those lower income years. We offer you a range of variable, short-term fixed and long-term fixed rate options, depending on your requirements with a minimum opening balance $1,000. 

Why choose farm management deposits?

• FMDs are available to primary producers with a taxable non-primary production income of no more than $65,000 in the year of deposit, for investments totalling no more than $400,000 per farmer.
• Total FMD deductions in any year cannot exceed your taxable primary production income for that year.
• Companies, trusts and partnerships are not eligible to hold FMDs. However, they are available to certain beneficiaries of trusts and individual partners of a partnership.
• Minimum withdrawals of $1,000 can be made. However, if the account is being closed, this minimum withdrawal amount does not apply.

Variable FMD

• Competitive interest rates to earn you daily returns
• Interest calculated on the daily closing principal balance and paid quarterly in arrears
• Interest payments and withdrawals direct credited to your nominated bank account
• Tiered interest structure to provide maximum return on your funds
• No transaction fees or service charges (government taxes may apply) 

Short-term FMD

• A fixed interest rate for the fixed term of your investment, select 30 to 364 days
• Competitive interest rates to earn you daily returns
• Interest paid on the maturity date you nominate, to suit your cashflow requirements
• Tiered interest structure to provide maximum return on your funds
• No transaction fees (government taxes may apply) 

Long-term FMD

• A fixed interest rate for the fixed term of your investment, select one or two years
• Competitive interest rates to earn you daily returns
• Interest paid quarterly, half yearly or yearly in arrears
• Interest payments direct credited to your nominated bank account
• Tiered interest structure to provide maximum return on your funds
• No transaction fees (government taxes may apply) 

Other conditions apply to the FMD scheme.  Please read the application form for further details.