In a loan transaction, the date on which the term of the loan expires and the outstanding principal balance of the loan must be repaid to the lender. All other amounts payable by the borrower under the loan agreement, such as interest, fees and expenses, must also usually be paid at maturity. Under the terms of a loan agreement, certain specified payment obligations of the borrower may continue after maturity, such as indemnity obligations.

In loan transactions where the borrower has not fully drawn the loan commitment following financial close, the lender's commitment to make new loans expires on the maturity date at the latest. In some transactions, the commitment is only available for a shorter period, known as the availability period. This leaves a period of time between the end of the availability period and the maturity date during which the borrower cannot obtain new loans but does not have to repay outstanding loans that it previously borrowed. In other loan transactions, the commitment expires on the maturity date, though in practice the borrower is unlikely to apply for new loans when the maturity of its loan is imminent. In loan agreement terminology, "maturity" is sometimes referred to as "final maturity" or the "maturity date".