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Farm Management Deposit (FMD) account

An at call or fixed term FMD that puts money aside for when you need it most.
4.20
%p.a.
12 month fixed rate
4.20
%p.a.
12 month fixed rate

Three reasons to open a Farm Management Deposit account

Find out if this account is the right fit for you.

Tax benefits

Set aside annual income to reduce taxable income. For further information on FMD eligibility refer to the ATO and DAFF websites.

Flexibility

Earn competitive interest rates on a choice of fixed terms.

No fees

No monthly account service fees or transaction fees apply to Bendigo Bank FMD accounts.

Account summary

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
  • Earn competitive interest rates on a choice of fixed terms
  • No monthly account service fees or transaction fees
  • FMD funds are covered by the Government’s Financial Claims Scheme, and protected by the Financial Claims Scheme (formerly referred to as the Government Deposit Guarantee)
4.20
% p.a.
12 month fixed rate

Featured rate

Watch your savings grow with a 12 month fixed FMD account. Deposit between $5,000 to $800,000 into a fixed FMD account for 12 months and receive this great rate.
Interest will be paid at maturity.

$0 - $4,999

Term Rate
1 Month 0.00% p.a.
2 Months  0.00% p.a.
3 Months  0.00% p.a.
6 Months  0.00% p.a.
12 Months  0.00% p.a.

$5,000 - $800,000

Term Rate
1 Month 2.00% p.a.
2 Months  2.00% p.a.
3 Months 3.00% p.a.
6 Months 3.85% p.a.
12 Months  4.20% p.a.

$0 - $4,999

Term Rate
12 Months  0.00% p.a.
24 Months  0.00% p.a.

$5,000 - $800,000

Term Rate
12 Months  4.15% p.a.
24 Months  3.95% p.a.

$0 - $4,999

Term Rate
12 Months  0.00% p.a.
24 Months  0.00% p.a.

$5,000 - $800,000

Term Rate
12 Months  4.15% p.a.
24 Months  3.95% p.a.

$0 - $4,999

Term Rate
24 Months  0.00% p.a.

$5,000 - $800,000

Term Rate
24 Months  4.00% p.a.
Term $0 - $999 $1,000 - $49,999 $50,000 - $800,000
Variable  0.00% p.a. 0.00% p.a. 1.75% p.a.

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Rates and fees

Here are some rates and fees that may apply to your account. For the full list of fees and charges, please refer to schedule of fees and charges.
Monthly service fees

$0

Terms

Choose between a variable or 1, 2, 3, 6, 12, and 24 month terms on fixed term accounts.

Minimum balance

A minimum balance of $1,000 applies to both fixed and variable FMDs.

Taxation benefits

To be eligible for tax benefits you need to hold funds in your FMD for at least 12 months. 

Transfers

If you are switching to us from another financial provider, your funds must be transferred electronically.

Eligibility criteria

  • Individual primary producers with a taxable non-farm income of $100,000 or less over a financial year. Ask your tax adviser if you qualify.
  • 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 Bendigo Bank.
  • Interest must be credited to another account (held in the account holder s name) with either Bendigo Bank or another financial institution.

For further information on FMD eligibility criteria and conditions refer to the Australian Government Department of Agriculture and Water Resources and also the Australian Taxation Office.

Things you should know

All rates subject to change.

This information does not take your personal objectives, financial situations or needs into account. You should consider its appropriateness to your circumstances before acting on this information. Please read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

Target Market Determinations for products are available.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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