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repayment

nounB2+Rare in speech; mostly a word you read · #12,533 of 15,258leans written

Other forms: repayments

A repayment is one of the payments made to clear a debt. Monthly repayments, miss a repayment, repayment terms.

Each one covers interest first and capital second, which is why the early years of a long loan clear so little of what was borrowed — and why overpaying early saves so much. Missing repayments damages a credit record. Note repay; and that a repayment mortgage clears the capital where an interest-only one does not.

Definitions of repayment

  1. 1nounrepaymentOne of the payments made to clear a debt.B2+

    “The monthly repayments on our car loan are higher than we expected.”

repayment is a payment.

Where it comes from

Repay plus -ment, or re- plus payment. Pay comes from Latin pacare, to pacify, from pax, peace.

From repay + ment, also equivalent to re + payment.

Etymology from Wiktionary, CC BY-SA

Practised in Bank & Post Office

Practise this word

repayment in the wild

  • Treasury, and of that, about US$40 million is applied toward interest and repayment of the Federal investment.

    Southwestern Power Administration

  • By reducing the mortgage balance during the term, repayment mortgages can increase home equity if property values are unchanged, although falling house prices can still produce negative equity.

    Repayment mortgage

  • An unofficial referendum on governmental economic policies, debt repayment and tax law was held in Bolivia on 24 July 1986.

    1986 Bolivian referendum

From Wikipedia, CC BY-SA 4.0. These sentences were written by other people about their own subjects; they are here to show the word at work, not as anybody’s opinion.