Meaning of redemption

re•demp•tion

1. an act of redeeming or the state of being redeemed.
2. deliverance; rescue.
3. deliverance from sin; salvation.
4. atonement for guilt.
5. repurchase, as of something sold.
6. paying off, as of a mortgage, bond, or note.
7. recovery by payment, as of something pledged.
8. conversion of paper money into specie.