installment payment
Scheduled partial payment
An installment payment is one of a series of partial payments made over time toward a larger debt or purchase price.
Rather than paying the full amount at once, the buyer makes regular payments—typically monthly—until the balance is satisfied: We're making installment payments on the car.
The arrangement is common for mortgages, auto loans, and retail financing.
- loanBorrowed money repaid later
- interest rateCost of borrowing money
- zero interestComplete lack of curiosity
- contractEnforceable written agreement
- purchasing powerEconomic spending ability
affordability · consumer credit · buy now pay later · principal · creditor · agreement · grace period · layaway · hire purchase · debtor · promissory note · financial literacy · budgeting · amortization · fixed term · EMI · default · pay in full
- credit cardscredit card, loyalty card, cardholder, cashback offers, card number
- estate taxesestate tax, inheritance tax, death tax, death duty, death duties
installment paymentlump sum
Entire amount at once
lump sum payment · single payment · one-time payment · full payment · balloon payment
installment paymentadvance payment
Payment made beforehand
cash on delivery · prepayment · upfront payment · COD · pay-as-you-go
install, installment, installments, installation, installations, installed, installing, installs, reinstall