Repayment
/rɪˈpeɪmənt/
Definitions
2 meaningsThe act of returning money that was borrowed or owed.
/rɪˈpeɪmənt/
The act of paying back money that has been borrowed.
The repayment of the loan was scheduled for next month.
💡 Simply: Imagine you borrowed money from a friend. Repayment is when you give them that money back. Just like paying them what you owe!
👶 For kids: When you give back money you borrowed.
More Examples
The bank offered flexible repayment options.
The company struggled to make its repayment on time.
How It's Used
"The company scheduled its loan repayment."
"The repayment schedule for the loan was agreed upon."
The money that is paid back.
/rɪˈpeɪmənt/
Something that is paid back.
The repayment covered the original loan plus interest.
💡 Simply: It's the actual dollars you hand over to get rid of your debt.
👶 For kids: The money you give back that you borrowed.
More Examples
The schedule outlines the terms for the repayment.
The company struggled to make the repayment.
The court ordered a large repayment.
How It's Used
"The judge ordered the repayment to include interest."
"The repayment was due within a year."
Synonyms
Idioms & expressions
Repayment schedule
A plan detailing the timing and amounts of repayments.
"The repayment schedule was designed to accommodate the borrower's income."
Miss a repayment
To fail to make a scheduled payment.
"If you miss a repayment, you may be charged a penalty fee."
From Middle English repayement, from the verb repay, ultimately from Old French repaier, meaning 'to pay back'.
The word 'repayment' has been used in financial and legal contexts since at least the 15th century, evolving from discussions of debt and obligations.