Instalment

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • premium
  • partial payment
  • payment
  • regular payment

Alternate Spellings

  • Installment

Definition of Instalment

  1. A payment made towards the settlement of a debt that is typically paid at regular intervals to the creditor or lender.

Related Terms and Acronyms

  • Debt Bank,
    • Money one person or firm owes to another person or firm.
  • Secured Debt Bank,
    • A debt that is secured by a lien on debtor's property that may be taken by the creditor in case of non-payment by the debtor. A common example is a mortgage loan.
  • Annuity Consideration Definition,
    • The payment(s) made by an individual in order to accumulate value in an annuity.
  • Late Payment Bank,
    • A sum a borrower sends to a lender that is received past the date when it was due.
  • Unsecured Claim Bank,
    • A claim or debt where the creditor has no guarantee of repayment because collateral is not required from the borrower. Credit is granted solely on an assessment of the debtor's future ability to repay the claim or debt.
  • Fixed Instalment Bank,
    • Periodic (usually monthly) payment on a loan whose sum does not vary.
  • Garnishment Bank,
    • An amount withheld from your pay and remitted to another party, such as a creditor. You must include in your taxable income any amount that was garnished from your pay, because the full amount of your pay is considered to have been received by you even though some was withheld to pay your debts.
  • Balloon Payment Bank,
    • A loan instalment that is larger than the other, periodic payments and pays off the remaining principal.
  • Accumulation Period (AP) Bank, Important,
    • The period where an investor continues to put money into his or her investment(s).
  • Lump Sum Payment Bank,
    • One-time single-sum payment or payout.
    • An extra payment made to reduce a loan.
  • Tax Instalment Payment Plan (TIPP) Bank, Canada,
    • A popular property tax payment plan that allows you to pay your taxes monthly without any penalties or additional charges.
  • Payout Phase Bank,
    • The phase of a deferred annuity where the annuity begins to make payments to the annuitant.
  • Debt Consolidation Bank,
    • The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. CanEquity has access to Canada's best debt consolidation products, for more info about debt consolidation see our debt consolidation page.
  • Premium Bank,
    • A payment made to an insurance company for insurance coverage.
  • Lender Bank,
    • The bank or mortgage company offering the loan.
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