- that must be paid upon demand: said as of a loan
- that must be presented for payment upon notice: said as of a bond
- Capable of being called: a dog not callable by any name.
- Subject to being redeemed at the demand of the issuer: callable bonds.
callable - Investment & Finance Definition
A bond that the issuer can call before maturity. The issuer can decide to redeem the bond and pay the investor the par, or face value, of the bond, or, in some cases, a slight premium. If interest rates fall, companies often call bonds because they can issue new bonds at a lower interest rate and save money. If a bond is called it is referred to as called away.