To purchase back; to regain possession of by payment of a stipulated price; to repurchase.
To recall, as an estate, or to regain, as mortgaged property, by paying what may be due by force of the mortgage.
To regain by performing the obligation or condition stated; to discharge the obligation mentioned in, as a promissory note, bond, or other evidence of debt; as, to redeem bank notes with coin.
To ransom, liberate, or rescue from captivity or bondage, or from any obligation or liability to suffer or to be forfeited, by paying a price or ransom; to ransom; to rescue; to recover; as, to redeem a captive, a pledge, and the like.
Hence, to rescue and deliver from the bondage of sin and the penalties of God's violated law.
To make good by performing fully; to fulfill; as, to redeem one's promises.
To pay the penalty of; to make amends for; to serve as an equivalent or offset for; to atone for; to compensate; as, to redeem an error.
At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid. James Buchan