NAB Farm Management Deposit
The NAB Farm Management Deposit is a fixed interest rate; fixed term investment that generally pays higher interest than "at call" accounts.
NAB Farm Management Deposit is a tax-linked risk management tool, which can assist primary producers to make provision for fluctuations in earnings caused by adverse economic and seasonal changes and to receive concessional tax treatment in the process of making such provisions of earnings.
NAB recommends that you ask your tax adviser or financial consultant to indicate what the taxation consequences might be in respect of a NAB Farm Management Deposit.
Eligibility criteria apply to primary producers under the Farm Management Deposit scheme.
Download a copy of the NAB Farm Management Deposit Application.
Note: To download both the NAB Farm Management Deposit Application and Product Disclosure Statement including Terms and Conditions, you will require Acrobat ® Reader.
For further details on NAB Farm Management Deposits, please contact your local Agribusiness Manager or call 13 10 12.
| Statutory eligibility criteria |
- Taxable non-primary production income of $65,000 or less
- An individual who carries on a primary production business in Australia (other than as a trustee of a trust estate)
- A partner in a partnership that carries on a primary production business in Australia (not being a company)
- A beneficiary (not being a company) who is presently entitled to a share in the trust estate, where the trustee carries on a primary production business in Australia.
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| Other important information |
Only an individual is eligible to open a Farm Management Deposit |
| Choice of term |
Customers can choose to invest from 7 days to 2 years dependant on the amount of funds being invested.
It must be noted however that the tax benefits are not retained for deposit amounts withdrawn in the first 12 months after the deposit was made.*
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| Interest paid |
Yes
Customers can choose from a range of interest rates that vary according to the term and the amount of the investment.
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| Interest payments |
For investments of $5,000 or more and with terms of one year or more, interest can be paid monthly, quarterly, half yearly, annually and at maturity of the term. |
| Minimum deposit |
$1,000
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| Maximum deposit |
$400,000
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| Fees and charges |
No fees are charged for lodgement, maintenance or on maturity. An economic cost may apply for early repayment. Government charges may apply. |
| Prepayment fee |
Prepayment fee NIL
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| Other related products |
NAB Term Deposit
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| We're here to help |
Contact your local Agribusiness Manager or the National Business Information Line on 13 10 12 (8 am - 8 pm EST Monday to Friday)
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* Subject to certain exceptions. For more details, please refer to the Farm Management Deposit PDS including Terms and Conditions.
