If something is redeemable, you can hand it in and get money or goods for it. Shop points, a gift card, or a paper coupon are redeemable: you take them to the shop (or a website) and they turn into a discount, a present, or cash. Some bottles and tickets are redeemable too — you return them and get a little money back. The word is at home on the back of a voucher: “redeemable against…”, “not redeemable for cash.” Though actually, shops stretch it. “Redeemable only in store” means you cannot take the cash, only the goods, so “exchanged for money” is the tidy picture, and “exchanged for goods — and sometimes not for money at all” is how the notices read. This entry is the shopping use, not a person being “saved.”