repayment
act of paying back money
When you pay back money that you borrowed or owed.
make [a] repayment on [a loan/debt]
- Early repayment of the loan will save you a lot of interest.
- The bank does not charge a fee for the repayment of your mortgage before the end of the term.
- He fell behind on the repayment of his student debt after losing his job.
- They agreed on a five-year repayment of the business loan.
- Government policies aim to make repayment of educational loans more flexible.
- I finished repayment of my car loan last year.
- The bank gave her more time for repayment of the debt.
- Repayment of the loan starts next month.
- He made the final repayment on his credit card.
- They talked about the repayment of their house loan.
sum of money paid back
A payment of money that you make to pay back part of a loan or debt.
[someone] makes a repayment of [amount]
- My monthly repayment on the mortgage is $850.
- If you miss a repayment, you may have to pay a late fee.
- The credit card company reduced the minimum repayment to help customers.
- We increased our repayments so we can clear the loan sooner.
- She set up automatic repayments from her salary account.
- The repayment on this loan is very high.
- I forgot to make my repayment this month.
- Your repayment will be taken on the first day of each month.
- He pays two repayments every month to finish the loan faster.
- They lowered the repayment to help him.
action in return for something
An action you do back to someone because they did something good or bad to you first.
in repayment for [something]
- He offered to babysit her children in repayment for all the help she had given him.
- The gift was a small repayment of the kindness they had shown her during her illness.
- She saw the promotion as repayment for years of loyal service.
- The attack was widely viewed as brutal repayment for the earlier bombing.
- As repayment for their support, he agreed to mentor new employees.
- He cooked dinner in repayment for her help.
- The flowers were a repayment for his friend’s support.
- She gave him free lessons in repayment for his advice.
- He felt he still owed her some repayment for her kindness.
- The attack was repayment for what they did last year.
- Base: repayment
- Plural: repayment, repayments
early repayment
1paying back a loan early
Paying back some or all of a loan before the time you agreed in the contract.
- There is an early repayment charge if you pay off your mortgage in the first two years.
- Early repayment can reduce the total interest you pay on the loan.
in repayment for
1as a response to something done
Used to say that you do something because someone did something for you or to you first.
- She offered him her guest room in repayment for all his help during the move.
- They donated money to the school in repayment for the support their children had received.
repayment period
1time over which loan is repaid
The number of months or years you have to pay back all of a loan.
- The standard repayment period for this type of loan is 25 years.
- You can choose a shorter repayment period if you want to pay less interest overall.
repayment plan
1agreed schedule for paying back
A plan that shows how much you will pay and when you will pay it to clear a loan or debt.
- The bank helped them set up a repayment plan for their credit card debt.
- Under the new repayment plan, her student loans will be cleared in ten years.
repayment schedule
1detailed list of repayments
A document or table that shows each date and amount you must pay to finish paying back a loan.
- Your repayment schedule is included at the back of the loan agreement.
- We changed the repayment schedule so that the payments are lower in the first year.