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Canadian Financial, Real Estate and Mortgage Glossary

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Annuity in Arrears


Synonyms:back payment, held in arrears, held-back annuities, postpone
Filed Under: annuities, financial-banking, investments
Tags: annuity, banking, investment
 

Definition of annuity in arrears

annuity in arrears
1. An arrangement where payments are made at the end of each period instead of at the beginning. An example of an annuity in arrears would be mortgage payments, which are paid to cover the previous period's principle and interest. Also known as an "ordinary annuity."

Related Terms and Acronyms:

  • annuity   A financial instrument that disperses a number of payments over a set period of time.
  • annuity in advance   When payments are made at the start of a period as opposed to the end.

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