noncallable bond

/nɑnˈkɔləbəl bɑnd/

Definitions of noncallable bond

1. noun

   a bond containing a provision that the holder cannot redeem the security before a specific date (usually at maturity)
   type of:

   bond, bond certificate

   a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal