Farm Management Deposit

Primary producers can set aside pre-tax income in good years to use when the farm isn’t making as much money as usual or the season isn’t so great. 

Help Minimise Risk

Farming can be a risky business so we’ve developed a Farm Management Deposit account to help primary producers manage some of this risk. In some circumstances, by depositing funds into a Farm Management Deposit account, you may be able to reduce your taxable income for the year by the amount of the deposit (up to a maximum amount of $800,000).  

Features include: 

  • No account keeping fees^
  • Possible tax-saving benefits
  • Deposit between $1,000 - $800,000
  • Two investment options are available: At Call savings with a variable interest rate or Fixed Term investment for 12 or 24 months
  • Move between At Call and Fixed Term investment options during your term
  • Ability to partially withdraw funds if needed, at a penalty interest rate

Interest Rate
farm management term investment (12 months)
farm management term investment (24 months)
Interest paid - quarterly (deduct 0.10% from quoted interest rates); or annually; or at maturity
farm management account at call ($1,000 to $49,999)
farm management account at call ($50,000 to $800,000)
Tiered interest rates calculated on daily balances and paid quarterly
Rates Effective From 17/08/2022

To open a Farm Management Deposit account you must first meet special legislative requirements. This includes, but is not limited to being a primary producer as defined by Australian tax law.
Please refer to the Guide to Heritage Deposit Products for more information. 

Account keeping fee $0
Transaction fee $0
Minimum opening balance $1,000
Minimum operating balance $1,000
Maximum operating balance $800,000
Research tools
Guide to starting a business
How to open a business account
Tips on applying for a business loan
Business loan interest rates
More interest rates
Budget planner
Savings calculator
Term deposit calculator

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