Farm Management Deposit

Farming is a rewarding but sometimes risky business. That's why Heritage Bank offers a Farm Management Deposit account to help primary producers manage some of this risk. This account allows primary producers to set aside pre-tax income in good years to use when the farm isn’t making as much money as usual or the farming season isn’t so great. 

4.65 % PA
Term Deposit - 12 Months* About this rate Enquire online
% PA
Farm Management Deposit features

  • No account keeping fees^
  • Deposit between $1,000 - $800,000
  • Two investment options are available: At Call savings with a variable interest rate or Term Deposit investment for 12 or 24 months
  • Switch between At Call and Term Deposit investment options during your term
  • Ability to partially withdraw money from Term Deposit investments if needed, at a penalty interest rate
  • Possible tax-saving benefits: In some circumstances, by depositing money into a Farm Management Deposit, 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 across all of your Farm Management Deposits). When you withdraw from your Farm Management Deposit account, those funds count towards your assessable income for that year. 

Farm Management Term Deposit
Interest Rate
12 months*
24 months*
*interest paid - at maturity; annually; or quarterly (deduct 0.10% from quoted interest rates). interest will be paid to your nominated account.
Rates Effective From 07/02/2024
 All rates shown are on a per annum (p.a.) basis.
Farm Management At Call
Interest Rate
$1,000 to $49,999**
$50,000 to $800,000**
**tiered interest rates calculated on daily balances and paid quarterly. interest will be paid to your nominated account.
Rates Effective From 07/02/2024
 All rates shown are on a per annum (p.a.) basis.

To open a Farm Management Deposit 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 on opening a Farm Management Deposit account with Heritage Bank. More information on the Farm Management Deposit scheme is available on the Australian Taxation Office website.
Fees and limits

Account keeping fee $0
Transaction fee $0
Minimum opening balance $1,000
Minimum operating balance $1,000
Maximum operating balance $800,000

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If you have any questions and would like to talk to us today, tap here for live assistance.

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