Repayment

/rɪˈpeɪmənt/

Meaning & Definition

noun

The act of paying back money borrowed or a debt owed.

The bank is expecting full repayment of the loan within five years.

An amount of money that is paid back.

He made a hefty repayment on his credit card this month.

The process of returning something to its previous owner.

She completed the repayment of the borrowed book to the library.

Late Middle English: from re- 'back' + payment.

loan repayment

The process of paying back borrowed money.

debt repayment

The act of returning funds owed to creditors.

repayment plan

A structured method to repay borrowed funds over time.

debt

An amount of money borrowed by one party from another.

loan

A sum of money that is borrowed and is expected to be paid back with interest.

Payback

He promised payback for the money he borrowed.

Settling up

It's time to settle up for the dinner we had.