repayment period
Debt settlement duration
The repayment period is the length of time a borrower has to pay back a loan.
A longer repayment period means smaller monthly payments but more interest paid overall; a shorter one means higher payments but less total interest.
The mortgage has a thirty-year repayment period.
She chose a five-year repayment period to pay off the debt faster.
- loanBorrowed money repaid later
- mortgageSecured home loan
- loan termDuration of borrowed money
- installmentPeriodic partial payment
- amortizationGradual debt reduction schedule
monthly installments · monthly · term · duration · maturity · principal · interest · interest rate · deadline · schedule · balance · debt · payoff · grace · extension · refinance · lender · borrower
repayment periodlump sum payment
Full amount given once
balloon payment · single payment · demand loan · one-time payment
repay, repayment, repayments, pay, pays, paid, paying, payer, payment