Callable Advance

Description
Callable advances offer competitive fixed rates on long-term funds with an option to prepay the advance on certain predetermined dates ("call dates") without incurring a prepayment fee.

Term
Various predetermined amounts and maturities up to 10 years with specified call dates may be offered. Call the FHLBI to determine what maturities are currently available.

Application
Call the FHLBI by 5:00 p.m. Indianapolis time.

Rate
Call the FHLBI to obtain current terms and rates available. Actual rates will be set at the time of rate commitment.

Commitment
Members can arrange a rate commitment subject to the FHLBI's availability of funds. Once a rate commitment is made, the member must normally take funding within 2 business days or by the FHLBI's debt settlement date. From time to time, at the sole discretion of the FHLBI, rate commitments for longer periods of time may be obtained. Such commitments may require modification of the rate, a commitment fee, or both.

Takedown
Once a rate commitment has been issued, takedown becomes mandatory, and the member normally must take funding within 2 business days or by the FHLBI's debt settlement date.

Commitment fee
At rate commitment, a 1/4% rate commitment fee may be charged.

Prepayment
May prepay without fee on the specified call dates provided that proper notification is given to the FHLBI in accordance with the callable advance terms sheet. Prepayments at any other time are subject to prepayment fees described in the callable advance terms sheet, and the member must notify the FHLBI before 2 p.m. Indianapolis time for next-day prepayment.

Updated: February 25, 2008