Credit Products Banner
Credit Products
Letters of Credit
Correspondent Services
Mortgage Partnership Finance
Products and Solutions
Guide Adobe PDF icon
Credit Products – Classic Advance

Fixed rate and term; interest monthly, principal due at maturity; terms out to 20 years.

 Key Features
  • Fixed rate
  • Fixed term
  • Nonamortizing
Common Uses
  • Manage liquidity needs.
  • Manage interest-rate-risk sensitivity.
  • Fund short- or long-term assets.
  • Out to 20 years.
  • Next-day if requested by 3:00 p.m.
  • Same-day possible if you call by noon.
Payment of Principal and Interest
  • For maturities of one year or less, you may choose to pay principal and interest at maturity. The advance rate may be higher than the posted rate.

  • For maturities of more than one year, principal due at maturity and interest due either monthly on the second business day of the month or semi-annually on the anniversary date of disbursement. If interest is due semi-annually, the advance rate may be higher than the posted rate.

  • Interest is calculated on an actual/360-day basis.
  • Prepayable in full or in part at any time, subject to a fee. Partial prepayments may be in amounts as small as $100,000 and in intervals of $100,000 thereafter.
Forward Rate Commitments
  • Lock in a guaranteed rate up to two years before disbursement.

  • Our forward rate commitment adds a premium to the current rate.
  • The Federal Home Loan Bank of Boston does not act as a financial adviser, and members should independently evaluate the suitability and risks of these advances. Please see the Classic Advance Primer Adobe PDF icon for a discussion of the risks and other considerations associated with the Classic advance.
More Information
Rates Specials
Forms and Applications