GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Maturity


Synonyms:due, fruitful, full development, mature, perfected condition
Filed Under: financial-banking, investments, mortgages
Tags: banking, investment, mortgage
 

Definition of maturity

maturity
1. 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.

Related Terms and Acronyms:

  • bond   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   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   The date one month prior to the beginning of amortization when accrued interest computed on the monies advanced becomes due.
  • maturity guarantee   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   The date on which a loan is funded.
  • treasury bills   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.

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