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English definition of “instalment”

instalment

noun [C or U] UK (US installment)     /ɪnˈstɔːlmənt/
COMMERCE, FINANCE one of a number of parts into which an amount of money that is owed has been divided. Payments are made regularly until the total amount has been paid back: pay by/in instalments The journal charges a yearly subscription of $1000, which readers can pay in instalments.pay by instalment Small shareholders were often given the opportunity to pay by instalment.pay/repay (the) instalments Please contact our Help Line if you cannot pay the instalments. weekly/monthly/annual instalments to keep up (the) installments Louisiana got the final installment of its $10 billion in grant money in June.
(Definition of instalment noun from the Cambridge Business English Dictionary © Cambridge University Press)
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