Callable is the designation of a bond that can be paid off earlier than its maturity date.

A callable bond is where the issuer has the ability to redeem the bond prior to maturity.

A callable bond is where the bond hold has the ability to force the issuer to redeem the bond before maturity.

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A callable bond, also known as a redeemable bond, is a debt security that entitles the issuer of the bond to retain the rights to redeem it before the maturity date of the bond is reached.

Callable bonds are similar to regular bonds in many ways. The main different is that callable bonds can be redeemed before the bond has completely matured.

Most bonds issued today are "callable," which means corporations can recall them if interest rates rise before the maturity dates.