- The date on which the principal balance of a loan becomes due and payable. It also marks the date when a bond pays off its principal.
perfected condition, mature, full development, due, fruitful
Related Terms and Acronyms
- Bond — Definition,
- A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.
- Early Withdrawal Penalty — Definition,
- A depositor forfeits interest or is charged a service fee for either withdrawing funds or closing a time deposit before the maturity date.
- Interest Adjustment Date — Definition,
- The date one month prior to the beginning of amortization when accrued interest computed on the monies advanced becomes due.
- Maturity Guarantee — Definition,
- A guarantee that after a certain date a contract, such as a life insurance policy or annuity, will have a minimum dollar value.
- Origination Date — Definition,
- The date on which a loan is funded.
- Treasury Bills — Definition,
- Short-term government obligations that are payable to the bearer and sold on a discount basis; the difference between a T-bill's market or discounted price and its face or redemption value is effectively interest if the T-bill is held to maturity.