Skip to main content

Farm Management Deposit

Set aside pre-tax income from your profitable years and earn interest on it – so you can have it available when you most need it.

Features of our Farm Management Deposit Account

With our fixed rate and variable rate Farm Management Deposit (FMD), primary producers can use income from profitable years in other years when it is needed more.

Designed for primary producers who’ve earned a taxable non-farm income of $100,000 or less over a financial year.

You can have more than one Farm Management Deposit, up to a combined value of $800,000 per farmer.

Customers maybe eligible for an FMD Offset Account which can assist to reduce your primary production business costs on eligible Rural Bank Term Loans.

Choice of a self managed Rural Bank ONE (online) or Staff Assisted (in branch/phone) Farm Management Deposit.

Earn competitive interest rates on a choice of fixed terms.

No monthly account service fees or transaction fees apply to Rural Bank Farm Management Deposit accounts.

How do I apply or find out more?

Contact our customer service team
Contact your local Relationship Manager
Visit your nearest branch

Farm Management Deposit Offset Account

To better manage risk and strengthen your financial future, our new FMD Offset Account works hard to give you more options to manage your farm finances. This means you can now use your FMD balance to offset a farm term loan, which may reduce your interest costs. 

Interest rates

Tier 3 month 6 month
$5000 to $49,999 0.75% p.a. 0.85% p.a.
$50,000 to $399,999 0.75% p.a. 0.85% p.a.
$400,000 to $800,000 0.75% p.a. 0.85% p.a.

Interest rates quoted on a per annum basis and subject to change without notice. Interest is calculated daily and paid or credited as specified. Minimum deposit $5,000. Maximum aggregate balance is $800,000 for all FMDs. No additional deposits will be accepted on the Fixed Rate FMD product. Other eligibility criteria apply, refer Terms and Conditions.

Tier 12 month 24 month
$5000 to $49,999 1.00% p.a. 1.00% p.a.
$50,000 to $399,999 1.00% p.a. 1.00% p.a.
$400,000 to $800,000 1.00% p.a. 1.00% p.a.

Interest rates quoted on a per annum basis and subject to change without notice. Interest is calculated daily and paid or credited as specified. Minimum deposit $5,000. Maximum aggregate balance is $800,000 for all FMDs. No additional deposits will be accepted on the Fixed Rate FMD product. Other eligibility criteria apply, refer Terms and Conditions.

Tier 12 month 24 month
$5000 to $49,999 0.85% p.a. 0.85% p.a.
$50,000 to $399,999 0.85% p.a. 0.85% p.a.
$400,000 to $800,000 0.85% p.a. 0.85% p.a.

Interest rates quoted on a per annum basis and subject to change without notice. Interest is calculated daily and paid or credited as specified. Minimum deposit $5,000. Maximum aggregate balance is $800,000 for all FMDs. No additional deposits will be accepted on the Fixed Rate FMD product. Other eligibility criteria apply, refer Terms and Conditions.

Tier 12 month 24 month
$5000 to $49,999 0.80% p.a. 0.80% p.a.
$50,000 to $399,999 0.80% p.a. 0.80% p.a.
$400,000 to $800,000 0.80% p.a. 0.80% p.a.

Interest rates quoted on a per annum basis and subject to change without notice. Interest is calculated daily and paid or credited as specified. Minimum deposit $5,000. Maximum aggregate balance is $800,000 for all FMDs. No additional deposits will be accepted on the Fixed Rate FMD product. Other eligibility criteria apply, refer Terms and Conditions.

Tier Rate
$5000 to $49,999 0.00% p.a.
$50,000 to $399,999 0.20% p.a.
$400,000 to $800,000 0.20% p.a.

Interest rates quoted on a per annum basis and subject to change without notice. Interest is calculated daily and paid and credited as specified. Minimum deposit $1,000. Maximum aggregate balance is $800,000 for all FMDs. Other eligibility criteria apply, refer Terms and Conditions.

The following interest rate is used to calculate the discounted interest on eligible Term Loan accounts that are linked to a Rural Bank FMD Offset Account. For more information refer to clause 23.4 of the Rural Bank Banking Accounts Terms and Conditions.

Offset type Interest rate
Full offset* 0.00% p.a.

*The term loan being offset must have a variable rate and the purpose for which must relate wholly to a primary production business carried on by the FMD owner either directly as a sole trader or through a partnership.

You may also be interested in

For further information on FMD eligibility criteria and conditions refer to the Australian Government Department of Agriculture and Water Resources (www.agriculture.gov.au/ag-farm-food/drought/assistance/fmd) and also the Australian Taxation Office (www.ato.gov.au).

  • Available to primary producers with a taxable non-primary production income of no more than $100,000 for the financial year.
  • Must be held for at least 12 months to be eligible for taxation benefits.
  • Must be held in the name of an individual. Deposits cannot be made by two or more people jointly, or made on behalf of two or more people.
  • Companies, trusts and partnerships are not eligible. However, they are available to certain beneficiaries of trusts and individual partners of a partnership.
  • The combined value of your FMD accounts cannot exceed $800,000.
  • To maintain potential taxation benefits when switching FMD providers, FMD funds must be electronically transferred to Rural Bank.
  • Interest must be credited to another account (held in the account holder’s name) with either Rural Bank or another financial institution.

Interest rates quoted are subject to change without notice. Information is subject to change. All applications for loans or credit are subject to normal lending criteria. Terms, conditions fees and charges apply and are available by phoning our Customer Service Team on 1300 660 116, online, or by contacting your local Rural Bank relationship manager.

Rural Bank - A Division of Bendigo and Adelaide Bank Limited
© Copyright 2020 Rural Bank | ABN 11 068 049 178 | AFSL/Australian Credit Licence 237879