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The date of maturity, or maturity date, is the day on which a bond's term ends, and its issuer repays the principal and makes the final interest payment.
When the phrase is used in connection with mortgages or other personal loans, the date of maturity is the day your last payment is due and your debt is repaid.
- Browse Related Terms: amortization, Asset-backed bond, Credit card account agreement, Date of maturity, Debt-to-income ratio (DTI), Deferred payment, Delinquency, Honorarium, Late Charge, Maturity Date, Payment Due Date, Prepayment, Self-amortizing loan