The Monthly Income Account is a flexible savings account, which pays a regular monthly income. It can be opened with a minimum investment of $100 and can be added to at any time, and funds are capital guaranteed by the Anglican Diocese of Adelaide.
- Interest is calculated daily and paid at the end of each month.
- Designed to be used as your daily transaction account, funds can be moved via EFT, BPAY or online transfer.
- No entry, exit, transaction or account keeping fees, nor any government charges.
- Regular savings facility (direct debit deduction) is available.
- Business grade Online Access is available.
- Investments can be made by cheque, or by EFT.
Monthly Income Accounts are eligible to be nominated for our Participant Distribution to your nominated Parish or Anglican Entity.
Please Note: The Monthly Income Account is unavailable to individuals, you must be an Anglican Parish, School, or affiliated organisation to access this product. Funds invested with AFSA’s Community Fund are capital guaranteed by the Synod of the Diocese of Adelaide of the Anglican Church of Australia Inc. ABN 63 198 215 958. AFSA is not prudentially supervised by the Australian Prudential Regulation Authority. Therefore, an investor in AFSA will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in AFSA are intended to be a means for investors to support the charitable purposes of the fund. By law ASIC requires that all Religious and Charitable Development Funds, such as AFSA, advise that investors may be unable to get some or all of their money back when the investor expects or at all, and the investment is not comparable to investments with banks, finance companies or fund managers.