Usually means: Option to repay debt early.
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We found 3 dictionaries that define the word callability:

General (1 matching dictionary)
  1. callability: Wiktionary

Business (2 matching dictionaries)
  1. MoneyGlossary.com (No longer online)
  2. Callability: Financial dictionary

Definitions from Wiktionary (callability)

noun:  The state or condition of being callable.

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