repayment

/rɪˈpeɪmənt/ noun FINANCE, BANKING

Definition

› [C] an amount of money that is paid back: a loan/debt/interest repayment Low interest rates are making loan repayments easier to manage.make a repayment If you need to make lower repayments, you can.a weekly/monthly/annual repayment I wanted low monthly repayments so I opted to pay the cash back over five years.keep up/meet repayments If you think you cannot meet repayments, talk first to your lender.

› [U] the act of paying back money that you have borrowed: Charge cards have no limit, but full repayment is to be made each month.debt/loan/mortgage repayment The first deadline for debt repayment is coming up in June.early/late repayment There are penalties for early repayment.

(Definition of repayment noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of repayment