Features & benefits

Balance your cash flow

Helps balance good and bad times, by allowing eligible customers to set aside their individual pre-tax income in good years as a cash reserve to withdraw from in less profitable years.


Get tax benefits

Funds held in a FMD account will be deducted from your assessable income in the year in which the deposit is made. Withdrawals are considered assessable income for that year's tax return.

Keep in mind, deposits in the FMD account must be kept for at least 12 months to be eligible for tax benefits.


How it works

Choose an amount

Choose a deposit amount from $1,000 to $800,000 in aggregate.1

Flexible term

Choose between a fixed term or an at-call account, or combination of both:

  • Fixed term FMD locks in a competitive interest rate with selected terms from 3 months up to 2 years
  • At-call FMD gives you the flexibility to withdraw funds from the account at any time without notice or penalty, while earning a variable interest rate 

Rates & fees

View all rates & fees

Interest rates are subject to change at the Bank's discretion.

Interest rates - at call (effective date 13 November 2020)

Interest rate (p.a.)
$0 to $999
$1,000 - $29,999
$30,000 - $99,999
$100,000 - $800,000

Interest is calculated daily and paid quarterly on the full balance when $1,000 or more is held in the account.

Fees: a statement listing or ad hoc paper statement may be subject to a fee of $2.50.

Interest rates - fixed term (effective date 28 May 2021)

Six monthly interest
Annual interest
3 months
0.10% p.a.
6 months
0.20% p.a.
9 months
0.30% p.a.
12 months
0.35% p.a.
0.40% p.a.
13 - 17 months
0.35% p.a.
0.40% p.a.
18 - 24 months
0.35% p.a.
0.40% p.a.

Interest is calculated daily and is for amounts $1,000 and above. You can choose whether it's paid to you '6 monthly’ or ‘annually'. 

Fees: if you need to withdraw funds from your Fixed Term Farm Management Deposit before it matures, you’ll need to give us 31 days’ advance notice and you may incur a prepayment administration fee and interest adjustment.

How to apply

To be eligible for the farm management deposit account, the account holder must be an individual primary producer at the time when they open the account or make a deposit.

This means they're:

  • Carrying on a primary production business at the time they make a deposit
  • Acting as an individual (this can include the beneficiary of a trust, partner of a partnership, but not joint persons or companies)

You must also meet special legislative requirements to open a Farm Management Deposit Account. Refer to the Australian Taxation Office (ATO) website -  Farm management deposits scheme for more details. 

Call 1300 772 968

Things you should know

1Aggregate balance of all FMD Accounts (both fixed term and at-call) must not exceed $800,000. This is the case even if FMDs are held in different institutions.

The target market for this product will be found within the product’s Target Market Determination, available here.

If necessary, seek professional advice before making any investment decision. Please note that past performance is not a reliable indicator of future performance. View our Financial Services Guide. View General Information and Terms and Conditions issued by Commonwealth Bank of Australia for Farm Management Deposit Account before making any decision about the product.