Westpac
Farm Management Deposit account
Westpac · term deposits
Provider last updated this product 2026-10-16.
Go to provider
You'll complete your application on
Westpac's website. Confirm the rate and fees with them
before applying.
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.
Deposit rates
| Type | Rate | Term | Calculated | Applies to | Conditions | Interest |
|---|---|---|---|---|---|---|
| FIXED | 1.40% | 1 months | daily | 1 - 1 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 1.65% | 2 months | daily | 2 - 2 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.25% | 3 months | daily | 3 - 3 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.40% | 4 months | daily | 4 - 4 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.45% | 5 months | daily | 5 - 5 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.40% | 6 months | daily | 6 - 6 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.55% | 7 months | daily | 7 - 7 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.60% | 8 months | daily | 8 - 8 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.65% | 9 months | daily | 9 - 9 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.70% | 10 months | daily | 10 - 10 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.75% | 11 months | daily | 11 - 11 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 1.40% | 1 months | daily | 1 - 1 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 1.60% | 2 months | daily | 2 - 2 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.20% | 3 months | daily | 3 - 3 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.35% | 4 months | daily | 4 - 4 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.40% | 5 months | daily | 5 - 5 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.35% | 6 months | daily | 6 - 6 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.50% | 7 months | daily | 7 - 7 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.55% | 8 months | daily | 8 - 8 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.60% | 9 months | daily | 9 - 9 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.65% | 10 months | daily | 10 - 10 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.70% | 11 months | daily | 11 - 11 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.75% | 12 months | daily | 12 - 12 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 4.75% | 23 months | daily | 13 - 23 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.50% | 35 months | daily | 24 - 35 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 47 months | daily | 36 - 47 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 59 months | daily | 48 - 59 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 60 months | daily | 60 - 60 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.70% | 12 months | daily | 12 - 12 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.70% | 23 months | daily | 13 - 23 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.45% | 35 months | daily | 24 - 35 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 47 months | daily | 36 - 47 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 59 months | daily | 48 - 59 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 60 months | daily | 60 - 60 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.70% | 12 months | daily | 12 - 12 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 4.70% | 23 months | daily | 13 - 23 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 4.45% | 35 months | daily | 24 - 35 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 47 months | daily | 36 - 47 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 59 months | daily | 48 - 59 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 60 months | daily | 60 - 60 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 4.75% | 12 months | daily | 12 - 12 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 4.50% | 24 months | daily | 24 - 24 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Bank cheque | TRANSACTION | $10 | - |
| Bank cheque Online | TRANSACTION | $0 | This includes a customised remittance plus postage and handling |
| Refunding a Bank cheque no longer required - original presented | TRANSACTION | $0 | Fee charged per cheque for Bank customers |
| Refunding / Replacing a Bank cheque - original lost, stolen or destroyed | REPLACEMENT | $0 | Fee charged per cheque for Bank customers |
Rate history
The figures behind this chart
| From | Until | Rate |
|---|---|---|
| 2026-07-15 | 2026-10-26 (current) | 4.75% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- 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 can be established for terms as short as 7 days.
Who can apply
- min age - 18Applicant should be 18 years or over
- residency status - Operating in Australia with an Australian address
- otherIndividual primary producer earning no more than $100,000 p.a. in non-farm income in the year of the FMD deposit
- businessSole trader, partner in a partnership, or beneficiary of a trust
- otherMost you can have invested across all your FMDs with one or more banks: $800,000
- otherYou must comply with the ATO Farm Management Deposits Scheme special legislative requirements.
Limits
- min balance - 1000.00
- max balance - 800000.00
The provider's own documents
- Product overview › (opens in a new tab)
- Terms and conditions › (opens in a new tab)
- Eligibility criteria › (opens in a new tab)
- Fees and pricing › (opens in a new tab)
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-10-16T04:39:53Z · Product ID: FarmManagementDepositAccount