Definitions for "Redemption charge"
Also called a back end load, a commission incurred when redeeming shares of a mutual fund.
A charge can be made should the loan be repaid before a specified timespan has elapsed. This is calculated using a formula specified by the lender and can vary. This charge can also apply to any lump sum payments made against the mortgage.
This is the charge levied by a mutual fund when redeeming units, which is also referred to as a back-end charge