Okuzeka
Finance & Banking vocabulary · Loans & Credit

Repayment

Meaning in finance & banking, with examples

/rɪˈpeɪmənt/nounCore term

In finance & banking, repayment means: The act of paying back money you have borrowed, or one of the regular amounts you pay to do this.

In Turkish: geri ödeme, taksit ödemesi

How it is used

Used in loan offers, contracts and collections. Borrowers make or miss repayments, and the repayment schedule shows each date and amount. In British English 'monthly repayments' is the everyday way to talk about loan instalments.

Example sentences

  1. Your monthly repayments will stay the same for the whole term of the loan.

  2. He missed two repayments, so the account was passed to the collections team.

Common collocations

  • monthly repayments
  • repayment schedule
  • make a repayment
  • miss a repayment
  • repayment period
  • installmentOne of a series of regular payments used to repay a loan or to pay for something bought on credit.
  • principalThe original amount of money borrowed or invested, not including interest. Each loan payment usually covers some interest and some principal.
  • early repaymentPaying back all or part of a loan before the dates set in the contract, which reduces the total interest the borrower pays.
  • arrearsMoney that should already have been paid, such as missed loan instalments, rent or bills. A borrower who has missed payments is 'in arrears'.
  • debtMoney that a person, company or government has borrowed and must pay back, usually with interest.

More terms: Loans & Credit

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level:

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