REDEMPTION
Download the REDEMPTION Form. Complete this form and send it to the Extension Loan Fund via fax at 405-526-5011 or via email at elfinfo@iphc.org. In order to complete your request, please include your phone number on the form so that we may verify the request by phone.
Please be aware that a penalty may be enforced on redemptions prior to the maturity date of the certificate. The penalty for early withdrawal on fixed-rate certificates is a surrender of earned interest as stated below:
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Penalties do not apply to Savings Certificates.
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How to calculate the penalty for early withdrawal
For 6 and 12 month Fixed-Rate Certificates the
adjusted penalty is the surrender of three
months earned interest.
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Withdrawal Amount X Interest Rate / 4
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Example
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A $10,000.00 withdrawal on a certificate
earning 3.21% would involve
a penalty of $80.25
For 24, 36, & 60 month Fixed-Rate Certificates the adjusted penalty is the surrender of six
months earned interest.
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Withdrawal Amount X Interest Rate / 2
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Example
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A $10,000.00 withdrawal on a certificate
earning 3.21% would involve
a penalty of $160.50