can I find rates?
Prices for many of the Bank's credit products are available
in the rates section. For prices on all the Bank's credit products,
contact the Money
- Can I receive rates via email?
Yes: To receive the daily rates via email, contact the Money
it possible to lock in a rate?
Yes: Subject to underwriting approval, the Bank allows you
to lock in a rate prior to disbursement of many advances.
Commitment fees are generally charged for advances to be disbursed
beyond next-day disbursement. For pricing information, please
consult the commitment fees section of the Product Policy or contact the Money
does the Bank price its credit products?
The Bank prices all credit products according to market conditions
and the following specific criteria:
- the Bank's cost of funds;
- competitive sources of funds for borrowers;
- the Bank's alternative
- the Bank's cost of delivering products
(general and administrative expenses); and
- Bank profitability
The Bank is required by regulation to price its credit products
consistently and without discrimination to all members applying
for advances. The Bank is also prohibited from pricing its
advances below its cost of funds. However, the Bank may price
advances on a differential basis, based on the creditworthiness
of members, volume, or other reasonable criteria applied consistently
to all members.
it possible to receive a rate that is lower than the one posted?
For advances of $25 million or more, a lower-than-posted rate
may be available. Competitive funding alternatives for the
member, general and administrative cost considerations for
the Bank, the Bank's asset/liability management needs, and
the total size of the transaction may all be considered in
such negotiated pricing. Please contact the Money
Desk for more information.
is interest charged to my account?
For Amortizing advances, interest is charged on the first
business day of the month. For most other advances, interest
is charged on the second business day of the month. All accrued
interest is charged at time of maturity.
is the principal and interest (P&I) due on my Amortizing
The principal and interest on an Amortizing advance is billed
on the 15th of the month and is due on the first business
day of the month.
I repay an advance?
Most advances are automatically repaid at maturity from your
IDEAL way account. Rollover Cash Manager and IDEAL Cash Managers
can be repaid at any time by calling Customer Service at 1-800-357-3452 (option 3).
Whether or not an advance is prepayable is determined by the
type and term of the advance. For more information, please
consult the prepayment section of the Products and Solutions Guide or contact the Money
is interest charged on prepayments?
On advances that are prepaid in full, all accrued interest
is charged at the time of prepayment. On partial prepayments,
interest is charged on the first business day of the month
for Amortizing advances and on the second business day of
the month for most other advances.
is my maturing advance processed?
All maturities are charged to your IDEAL Way account on the
maturity date. If the maturity date falls on a weekend or
on a holiday, the charge will fall on the next business day.
The charge will include any remaining interest due.