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Finance & Banking vocabulary · Payments & Cards

Due date

Meaning in finance & banking, with examples

nounCore term

In finance & banking, due date means: The last day by which a bill, card statement or loan instalment must be paid to avoid late fees or extra interest.

In Turkish: son ödeme tarihi, vade tarihi

How it is used

Common on card statements, invoices and loan schedules. Customers pay on or before the due date; after it, a payment is late or overdue. On a credit card, the statement date and the due date are different days. 'Due' alone means 'to be paid': payment is due on the 5th.

Example sentences

  1. If you pay the full statement balance by the due date, no interest is charged on your purchases.

  2. The invoice is past its due date, so please send the client a reminder.

Common collocations

  • payment due date
  • pay by the due date
  • past the due date
  • overdue payment
  • minimum paymentThe smallest amount a credit card holder must pay by the due date to keep the account in good standing. Interest is usually charged on the rest.
  • credit cardA plastic or digital card that lets you buy now and pay the bank later. You can spend up to a limit and pay interest if you do not repay the full amount on time.
  • installmentOne of a series of regular payments used to repay a loan or to pay for something bought on credit.
  • arrearsMoney that should already have been paid, such as missed loan instalments, rent or bills. A borrower who has missed payments is 'in arrears'.
  • grace periodA period at the start of a loan when the borrower does not have to repay principal, or extra time after a due date before penalties apply.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.