Variable Rate Advances
Variable rate advances provide an alternative source of short-term liquidity. This short-term advance product can be paid off at any time for changing liquidity needs.
- Available for immediate settlement
- Prepay in whole or in part at any time without incurring a prepayment fee
- Provide flexibility in managing liquidity needs
||Maturities up to 180-Days
||Priced daily, based upon the bank’s short-term cost of funds. The initial rate will be set the day of funding.
|Interest is Paid
||Monthly and/or at Maturity
|Principal is Paid
|Principal Prepayment Policy
||May prepay in whole or in part at any time without fee. Notify FHLBI before 2:00 p.m. ET for same-day prepayment
||Call FHLBank Indianapolis by 2:00 pm ET for same banking day funding