An instalment is a regular payment made as part of a larger sum owed for the purchase of something. It is a scheduled portion of a debt, typically paid at agreed-upon intervals (monthly, quarterly, etc.) until the full amount is settled. Instalments are commonly used for purchases like houses, cars, and appliances, allowing buyers to acquire goods without paying the entire price upfront. They offer flexibility and manageability in financing large expenses. This structured repayment plan includes a portion of the principal plus interest on any outstanding balance.
Instalment meaning with examples
- Maria purchased a new car and arranged to pay for it in monthly instalments. This made the overall cost manageable for her budget. Each month, a fixed amount covered part of the principal and interest.
- The homebuyer diligently made each monthly instalment on her mortgage. These payments included a portion that reduced the principal balance and contributed to the ownership of her new house, with interest added on the balance.
- The furniture store allowed the customer to pay for the new sofa in interest-free instalments over a year. This promoted the purchase by making the cost seem more accessible over time, increasing sales and satisfaction.
- Due to unexpected financial hardship, the borrower was struggling to keep up with the car loan instalments. She contacted the bank to explore options like delaying some payments or reducing the amount, mitigating default.
- The publisher released the novel as a series of instalments over several months. The author successfully used the anticipation to promote readership for each subsequent chapter, sustaining the audience's engagement.
Instalment Synonyms
contribution installment part payment portion repayment segment trancheInstalment Antonyms
entirety full payment lump sumInstalment Crossword Answers
5 Letters
ISSUE
7 Letters
EPISODE
10 Letters
INSTALLING
11 Letters
INSTALLMENT
12 Letters
INSTALLATION