repayment

[rɪˈpeɪmənt]

repayment Definition

• 1. the act of paying back money that you have borrowed
• 2. the amount of money that you pay back

Using repayment: Examples

Take a moment to familiarize yourself with how "repayment" can be used in various situations through the following examples!

• Example

  The repayment of the loan will be spread over five years.

• Example

  He made a repayment of $500 on his credit card bill.

• Example

  The company offers flexible repayment terms for its customers.

repayment Synonyms and Antonyms

Synonyms for repayment

• reimbursement
• compensation
• restitution

Phrases with repayment

• early repayment

  the act of paying back a loan before the agreed-upon time

  Example

  The bank charges a penalty fee for early repayment of the loan.

• partial repayment

  the act of paying back only a portion of the borrowed amount

  Example

  The borrower requested a partial repayment of the loan due to financial difficulties.

• late repayment

  the act of paying back a loan after the agreed-upon time

  Example

  The late repayment of the loan resulted in additional interest charges.

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Summary: repayment in Brief

Repayment [rɪˈpeɪmənt] refers to the act of paying back money that has been borrowed, or the amount of money that is paid back. It can be spread over a period of time and may have flexible terms. Examples include 'The repayment of the loan will be spread over five years.' and 'He made a repayment of $500 on his credit card bill.' Repayment can also be early, partial, or late.