Features

• Amortization periods up to 30 years with balloon/ final maturities up to 30 years
• Monthly, quarterly, semi-annual or annual payment schedules based on:
  • Level Payments* – Equal periodic principal and interest payments over the life of the advance.
  • Level Principal Payments – Equal periodic principal payments over the life of the advance.
• Available with delay feature which makes proceeds available on day one, but commencement of the repayment of the principal can be delayed for up to five years
• An option to prepay without incurring a prepayment fee following a member-selected lockout date can also be included
• Available with symmetrical prepayment feature, excluding Community Investment Advances (CIA)
  • Symmetrical prepayment feature requires $1 million minimum size and maximum term to maturity of 10 years.
• Actual principal and interest payments charged over the life of the advance may differ between billing periods due to the Bank’s use of an Actual Day/360 Day calendar in its interest calculations.