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
| Term |
Maturities up to 180-Days |
| Rate |
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 |
At Maturity |
| 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 |
| Application |
Call FHLBank Indianapolis by 2:00 pm ET for same banking day funding |