Meaning of Repayment: Payment is the payment of money that was previously taken from the lender. Funds are usually paid through periodic payments, including principal and interest. The principal refers to the actual amount of money taken as part of the loan. Interest is a fee for borrowing entitlement, for which the borrower has to pay interest to use the funds provided through the loan. Loans can usually be repaid at any time, although in some contracts there may be a penalty for early repayment.
- Payment is the payment of a loan from a lender.
- The terms of the loan are set out in the loan agreement, which includes the agreed interest rate as per the agreement.
- Student loans and federal mortgages are among the most common types of loans that people pay off.
- Concerned neo-hippies and their global warming, i'll tell ya.
Meanings of Repayment
Debt settlement process
Synonyms of Repayment
compensation, refund, restitution, reward, recompense, reparation, reimbursement, paying back