Definitions for "Installment credit"
Keywords:  repaid, revolving, repay, credit, fixed
A type of credit in which the monthly payment is the same every month and the time period to repay the loan is fixed, such as a loan.
a loan repaid with interest in equal periodic payments
Credit extended for a fixed amount with a fixed repayment term. Installment Loan: A loan for a fixed amount of money, with a fixed repayment term. Insurance: Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium. Interest: An amount of money charged by a lender for the use of the lender's money.
Keywords:  hire, purchase, see
see hire purchase.