The Collaborative International Dictionary of English v.0.48:

Redeem \Re*deem"\ (r?*d?m"), v. t. [imp. & p. p. Redeemed.
   (-d?md"); p. pr. & vb. n. Redeeming.] [F. r['e]dimer, L.
   redimere; pref. red-, re- re- + emere, emptum, to buy,
   originally, to take, cf. OIr. em (in comp.), Lith. imti. Cf.
   Assume, Consume, Exempt, Premium, Prompt,
   Ransom.]
   1. To purchase back; to regain possession of by payment of a
      stipulated price; to repurchase.
      [1913 Webster]

            If a man sell a dwelling house in a walled city,
            then he may redeem it within a whole year after it
            is sold.                              --Lev. xxv.
                                                  29.
      [1913 Webster]

   2. Hence, specifically:
      (a) (Law) To recall, as an estate, or to regain, as
          mortgaged property, by paying what may be due by force
          of the mortgage.
      (b) (Com.) 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.
          [1913 Webster]

   3. 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.
      [1913 Webster]

            Redeem Israel, O God, out of all his troubles. --Ps.
                                                  xxv. 22.
      [1913 Webster]

            The Almighty from the grave
            Hath me redeemed.                     --Sandys.
      [1913 Webster]

   4. (Theol.) Hence, to rescue and deliver from the bondage of
      sin and the penalties of God's violated law.
      [1913 Webster]

            Christ hath redeemed us from the curse of the law,
            being made a curse for us.            --Gal. iii.
                                                  13.
      [1913 Webster]

   5. To make good by performing fully; to fulfill; as, to
      redeem one's promises.
      [1913 Webster]

            I will redeem all this on Percy's head. --Shak.
      [1913 Webster]

   6. 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.
      [1913 Webster]

            Which of ye will be mortal, to redeem
            Man's mortal crime?                   --Milton.
      [1913 Webster]

            It is a chance which does redeem all sorrows.
                                                  --Shak.
      [1913 Webster]

   To redeem the time, to make the best use of it.
      [1913 Webster]

WordNet (r) 3.0 (2006):

redeemed
    adj 1: saved from the bondage of sin [syn: ransomed,
           redeemed]

Moby Thesaurus II by Grady Ward, 1.0:

64 Moby Thesaurus words for "redeemed":
   absolved, acquitted, angelic, archangelic, assimilated, beatified,
   blotted, born again, canceled, canonized, celestial, changed,
   cherubic, circumcised, condoned, converted, delivered, disregarded,
   emancipated, exculpated, excused, exonerated, extricated, forgiven,
   forgotten, free, freed, glorified, heavenly, in glory, indulged,
   justified, liberated, martyred, naturalized, on parole, overlooked,
   pardoned, reborn, reformed, regenerate, regenerated, released,
   remitted, renewed, reprieved, rescued, sainted, saintly,
   sanctified, saved, seraphic, shriven, spared, spiritually purified,
   transformed, unavenged, unbound, uncondemned, unresented,
   unrevenged, unshackled, untied, wiped away