Plain-English definitions for the terms you'll encounter on your financial journey.
A bond that can be redeemed by the issuer prior to its scheduled maturity date.
A strategy of buying multiple certificates of deposit with different maturity dates to maintain liquidity and capture varying interest rates.
A fee charged by a bank when a customer takes money out of a fixed-term account like a CD before the maturity date.
The date on which the principal amount of a note or bond becomes due.