One in which the amount of interest is added to the principal and repaid by the borrower in equal periodic payments.
A loan repayable in substantially equal payments over the course of the finance term.
A loan providing for payment of the principal in two or more payments at different stated times.
A loan that is repaid in a series of fixed scheduled payments rather than a lump sum.
a loan repaid with interest in equal periodic payments
a consumer loan in which the principal and interest are repaid on a regular (usually monthly) schedule
a contract between the member and the Credit Union
a fixed-payment loan in which the monthly payment does not change from month to month
a loan with a scheduled monthly payment
a type of credit account set up to handle one total amount of credit which is to be paid off in regular installments
A loan made to an individual or business, repaid in specified fixed, periodic payments.
A loan requiring scheduled payments over a specified period. Education loans, auto loans and personal loans are among them.
A loan to be repaid in fixed payments that include principle and interest
A loan that must be repaid in no less than two payments. A loan of six months or greater is preferable when establishing credit.
An amount of money that is borrowed to buy things like a house, car, or appliance. Loans are typically repaid in equal monthly amounts, such as a 36-month loan to buy a car. The longer the repayment period, the lower the monthly payment but the greater the total interest cost.
A loan that is repaid in a series of payments rather than in one large sum. A home mortgage or home equity loan is an example of an installment loan.
A credit account in which the debt is divided into amounts to be paid successively at specified intervals set by the terms of the loan.
A type of a consumer personal loan which is repaid in regular installments over a specified period. It is often secured for the purpose of consolidating debts or paying taxes.
Loan type that is paid in periodic payments, such as an automobile loan.
A credit account in which the amount of the payment and the number of payments are predeterminedor fixed. Back to Glossary Index
A loan which is paid back in periodic payments.
A credit account in which the amount of the payment and the number of payments are predetermined or fixed.
A loan for which periodic (monthly, biweekly, etc.) payments are made. The loan balance may not be increased during the life of the loan and the payments remain the same amount for the entire term of the loan. Credit card accounts are not installment loans (see Revolving Credit).
A credit account in which the amount of the payment and the number of payments are fixed, as in a car loan.
Monthly payments t are applied to the actual purchase of the vehicle. A person will own the vehicle at the end of the loan by making these monthly payments.
An obligation to repay monies borrowed at fixed intervals over time.
A loan that you promise to pay back by paying the same amount of money on a regular basis, usually monthly, for a specific amount of time. For example, you might pay back an installment loan by paying $300 a month for 5 years. Student loans, home equity loans and auto loans are usually installment loans.
Direct loans to individuals that are repaid in fixed, periodic payments.
A loan in which the amount and number of payments are fixed. Interest: The cost of borrowing (or lending) money. Usually a percentage.
Repayment of a loan in equal payments paid by a borrower to a lender at fixed monthly intervals for a specified term.
Borrowed money that is repaid in equal payments, known as installments. A furniture loan is often paid for as an installment loan.
A loan that requires periodic payments until both principal and interest are completely paid, such as a car loan.
Borrowed money that is repaid in equal periodic payments. Cars and furniture are often paid for with installment loans.