Definitions for

**"Minimum Payment"****Related Terms:**Minimum monthly payment, Minimum repayment, Outstanding balance, Revolving account, Late charges, Revolving debt, Amortize, Partial payment, Balloon payment, Loan principal, Amortization, Revolving credit, Amortized loan, Additional principal payment, Blended payment, Amortization schedule, Bi-weekly mortgage, Original principal balance, Interest-only payment, Principal and interest, Remaining term, Balloon payments, Amount due, Payment schedule, Charge card, Adjusted balance, Installment credit, Late payment fee, Monthly payment, Blended payments, Reserves, Biweekly payment mortgage, Balloon loan, Principal balance, Payment amount, Balloon, Installment loan, Balloon payment mortgage, Pre-payment, Principle, Mortgage payment, Installment, Capitalization, Balloon note, Repayment schedule, Biweekly mortgage, Debt service, Amoritization, Final payment, Previous balance

The minimum amount that a credit card company requires you to pay toward your debt each month, usually between $10-$50 dollars.

The minimum monthly amount required to be paid on a home equity line of credit. The minimum payment may be interest only or may include both principal and interest.

is the minimum amount that you must pay, e.g. usually monthly on a home equity loan or line of credit. In some payment agreements the minimum payment may be "interest only" (simple interest). In other loan agreements, the minimum payment may include principal and interest (amortized).

The minimum amount that must be paid monthly on an account. On the HELOC product, the minimum payment is interest only during the draw period. On the Fixed Rate Second products, the minimum payment is principal and interest.

You must make a Minimum Payment in each Billing Cycle in which you have a new balance on your account. Classic Card is 2.5% of the outstanding balance or $10, whichever is greater. The Gold Card is 1.5% of the outstanding balance or $50, whichever is greater.

The smallest amount which can be paid on a revolving charge account to avoid a penalty. see also payment.

With respect to credit cards and other revolving charge accounts, the minimum payment is the lowest amount you can pay on your monthly bill without being subjected to a penalty. This amount usually reflects the month's interest charge plus some portion of the principal, typically detailed in the account holder agreement.

The minimum dollar amount that you must pay per month on your credit card bill.

This is the minimum amount that you will need to pay back each month on your credit card balance.

The minimum payment is the payment you must pay in order to meet the minimum established as part of the University's payment plan and is calculated by taking the current term charges, dividing by the payments remaining for the semester, and adding any charges due in full.

The least amount of money required as a monthly payment. The methods for calculating the minimum payment varies and consists of any finance charges, fees, penalties plus a percentage of the outstanding balance.

the minimum amount you must pay, usually monthly, on a home equity loan or line of credit. In some plans, this includes interest only; in some plans, it includes interest and principal.

The smallest payment a consumer can make in a billing cycle to keep the account from going into default.

A credit card company will ask a minimum amount to be paid on your balance. The minimum monthly payment normally goes up as your balance increases.

The minimum amount the member must pay on their Home Equity Line of Credit. During the 1st 5 years the member pays interest only payments (plus insurance if applicable) with the option of paying additional to principal. Between 6 to 10 years the member pays interest due or 1% of the balance (plus insurance if applicable) whichever is higher. However the minimum payment will be $100. Then the draw period ends and the member begins their repayment period during the 11th â€“ 25th years.

An amount, usually about 3% of the outstanding balance that is the least that can be repaid each month. Paying less than the amount due will put your account past due, repeated instances of which can harm your credit rating.

The minimum amount of money that a cardholder is required to pay the credit card issuer each month. This number varies according to a number of factors, but is generally based on the amount of the cardholder's outstanding balance. A cardholder can always choose to pay more than the minimum payment, and paying the entire balance in full is advised to avoid finance charges.

Minimum payment on a loan or credit per month (also called the minimum instalment).

The minimum amount specified on a credit card statement to pay from the balance shown to be due, in order to keep the account in good standing.

Represents the minimum amount of money you are obligated to pay each month against your credit card balance. It is determined by the size of the balance and the formula the lender chooses to use in determining the minimum amount due.

This is the minimum amount you have to pay the credit card issuer each month on outstanding balances. It is most commonly expressed as a percentage of your outstanding balance, or the full amount if your balance is under a certain amount, usually around Â£5.

The lowest amount of money that you are required to pay on your credit card statement each month.

The minimum amount that must be paid, usually monthly, on a home equity loan or line of credit. Some plans, require the minimum payment to be "interest only," (simple interest). Other plans, are structured so minimum payments may include principal and interest.

The smallest amount you are allowed to pay toward your debt. The minimum payment may include principal and interest.

The smallest amount a borrower must pay each month on a loan or credit card account.

The minimum amount of money that a cardholder is required to pay the credit card issuer each month. This amount is usually a percentage of the outstanding balance and will fluctuate as your balance goes up and down.

The smallest amount that must be paid on a debt to avoid a penalty.

You'll see this on your credit card statement. It's the lowest amount you can pay every month, based on that month's balance at the time of billing.

The smallest payment a Cardmember can make each statement period to keep the account from going into default.

The lowest amount of money that credit card companies require their cardholders to pay each month in order to maintain ownership of their card.

The lowest dollar amount that must be paid each month at the due date to keep the account from going into default. It's important to pay at least the minimum payment to keep your credit rating in good standing.

The least amount of money that you must pay to your credit card provider by the statementâ€(tm)s due date.

The minimum payment you can make to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the card holder's ability to pay. Most card issuers require a minimum payment of 2 percent of the outstanding balance.

The minimum amount a cardholder must pay to keep the account from defaulting. Some card issuers set high minimums if they are uncertain of the cardholder's ability to pay. Most card issuers require a minimum payment of three to five percent of the outstanding balance.

The minimum amount that you must pay (usually monthly) on your account. In some home equity plans, the minimum payment may be "interest only." In other plans, the minimum payment may include principal and interest.

A minimum payment is the minimum amount a cardholder can pay to keep the account from going into default. Most card issuers require a minimum payment of at least 2 percent of the outstanding balance.

The minimum amount that you must pay toward the balance on your account.

The minimum amount that you must pay, usually monthly, on your loan. Under some plans, the minimum payment may cover interest only; under others, it may include both principal and interest.

The lowest amount a borrower is allowed to pay toward a loan, line of credit or other debt in a given period of time.

The smallest payment you can make on a revolving credit account to maintain your account status as being paid as agreed.

The minimum amount payable each month on your credit card balance. Most credit card companies set the minimum payment at two per cent of the debt.

the smallest amount you are required to pay a lender each month on a debt.

On credit or store card statements - the minimum amount you must pay each month off your debt.

The minimum amount that you must pay, usually monthly, on a home equity loan or line of credit. In some plans, the minimum payment may be "interest only," (simple interest) on negative amortization (see below). In other plans, the minimum payment may include principal and interest (amortized).

While you can choose to pay more, this is the minimum amount due to your creditor each month.

The minimum amount you can pay to keep the account from going into default. Usually you will be required to pay a minimum payment of two percent of the outstanding balance, but you should try to pay more.

The minimum amount due (usually monthly) on an account. Under some plans, the minimum payment may cover interest only; under others, it may include both principal and interest.

The minimum amount that a cardholder must pay, if there is an outstanding balance on their account, to their credit card issuer each month. The amount is usually expressed as a percentage and will vary depending on the outstanding balance.

The smallest possible monthly payment.

The minimum amount that you must pay on a home equity loan or line of credit (usually monthly). In some plans, the minimum payment may be simple interest (interest only). In other plans, the minimum

the minimum amount you can pay to keep your account from going into default. Most issuers ask for a minimum payment of 2% of the amount owed.

The smallest amount of your balance you can pay by the due date and still meet the terms of your Account Agreement. You can always pay more than your minimum payment. Your minimum payment can vary from month to month based on your current balance.

The lowest amount a borrower must pay, typically monthly, to keep an account from defaulting.

The minimum amount you are required to pay the credit card issuer each month. You may, however, choose to pay more. Paying the minimum monthly payment may be helpful when you can only afford to make a small payment. However, interest rates can really add up when you stretch out your loan with minimum payments.

The smallest payment a customer can make each statement period to keep the account in good standing.

A minimum amount you must pay, usually monthly, on a home equity loan or line of credit. With some programs, the minimum payment may be "interest only," (simple interest). In other programs, the minimum may include principal and interest (amortized).

The minimum amount that must be paid each month based on the balance at the billing date.

The smallest proportion of a credit card loan that can be paid in one instalment. Usually expressed as the higher of a fixed amount or a percentage of the outstanding debt.

The least amount a borrower can repay at the time of their specified periodic repayment.

The minimum amount that is required to be paid on an account each month.

The lowest combination of principal and interest acceptable as a monthly installment toward payment of a loan. MIP (Mortgage Insurance Premium) See also Mortgage Insurance.

The minimum amount a cardholder can pay to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the cardholder's ability to pay. Most card issuers require a minimum payment of 2 percent of the outstanding balance.