installment credit
Pay over time
Installment credit is a loan repaid through regular scheduled payments over a fixed period.
Unlike revolving credit, the amount borrowed and repayment timeline are set at the outset: car loans, mortgages, student loans.
Each installment typically includes both principal and interest.
We financed the furniture through installment credit.
- loanBorrowed money repaid later
- principalChief school administrator
- repayment planTerms for returning borrowed funds
- payment planArranged installment schedule
- easy paymentsDivided purchase cost over time
monthly bill · consumer protection · usury laws · interest · finance charges · amortization · fixed rate · down payment · budgeting · variable rate · debt-to-income ratio · disposable income · financial literacy · bankruptcy law · consumer rights · lender · contract enforcement · payment schedule
installment creditlump sum payment
Full amount given once
full payment · one-time payment · single payment · upfront payment · cash payment
install, installment, installments, installed, installing, installs, installation, installations, reinstall