Synonyms. pay, compensate, remunerate, satisfy, reimburse, indemnify, repay, recompense mean to give money or its equivalent in return for something. pay implies the discharge of an obligation incurred.
Loan repayment is the process of returning a loan obtained. There are different types of repayment like – fixed rate loan, floating rate loan, balloon loan and interest only loan. Managing loan repayment is important to ensure financial stability and avoid defaults.
Related Definitions
Amount to be Repaid means the total Amount Repayable under the Loan Contract less all Weekly Installments paid or which should have been paid and all rebateable amounts in accordance with the terms of the Loan Contract.
Loan repayment is the act of settling an amount borrowed from a lender along with the applicable interest amount. Usually, the repayment method includes a scheduled process in the form of equated monthly instalments (EMIs).
Examples from Collins dictionaries
They were unable to meet their mortgage repayments. You can pay it off or make a minimum repayment. He failed to meet last Friday's deadline for repayment of a £114m loan. Brazil is putting forward a new debt repayment plan.
The "repayment term" is the period from the starting point of credit to the final maturity of a transaction.
an amount of money that is paid back: a loan/debt/interest repayment Low interest rates are making loan repayments easier to manage.
to pay back or to reward someone or something: He had to sell his car to repay the bank loan.
Repaid in Full or "Repayment in Full" or any similar terms when used in connection with the Obligations shall mean the final indefeasible payment in full of such Obligations in cash or immediately available funds and termination of all lending commitments or, in the case of Obligations consisting of contingent ...
Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.
Repaid Amount means the amount received by way of repayments of contributions and payments of bonus or interest (if any) under the Savings Contract linked to the relevant Option.
(dɛt rɪˈpeɪmənt ) noun. the action of repaying debts, or a single payment made to wards paying off a debt. The whole of his salary went on debt repayments. 20% of export receipts went towards debt repayment.
Some common synonyms of repay are compensate, indemnify, pay, recompense, reimburse, remunerate, and satisfy. While all these words mean "to give money or its equivalent in return for something," repay stresses paying back an equivalent in kind or amount. repay a favor with a favor.
verb (used with object)
to pay back or refund, as money. Synonyms: indemnify, reimburse. to make return for: She repaid the compliment with a smile.
Relays are used wherever it is necessary to control a high power or high voltage circuit with a low power circuit, especially when galvanic isolation is desirable.
A "payment" is for a service or product. A "repayment" is for loaned money. So for example if you lended me money to buy an apple, I'd make a payment to the apple seller and a repayment to you later. It doesn't matter if it's whole or part.
Repayment refers to paying back money that you have borrowed. Loan repayments cover a part of the principal, or the amount borrowed, and interest, which is what the lender charges for supplying the funds. Loan agreements specify the repayment terms, including the interest rates to be paid.
A benefit overpayment is when you collect unemployment, disability, or Paid Family Leave (PFL) benefits you are not eligible to receive. It is important to repay overpayments to avoid collection and legal action.
[uncountable] the act of paying back money that you have borrowed from a bank, etc. The loan is due for repayment by the end of the year. debt repayment.
Meaning of loan repayment in English
the act of making payments towards a loan or the payments themselves: An estimated seven million insurance policies are taken out each year to cover monthly loan repayments in the event of sickness or unemployment.
Below is a comprehensive breakdown of the three repayment types; principal & interest, interest-only, and capitalised interest, and the scenarios they are most suited to. Ultimately, choosing a repayment method that suits you and your circumstances will go a long way toward facilitating your financial success.
Generally, repayment status includes any periods where the borrower was enrolled in a repayment plan. Repayment status does not include periods in forbearance, deferment, bankruptcy, or default.
You can also repay things other than money: "How will I ever repay your kindness and support?" Repay comes from the French repaier, with its "back" prefix re- and payer, "to pay." Definitions of repay. verb. pay back. synonyms: give back, refund, return.