installment loan
1
3.9
- noun
- /ɪnˈstɔlmənt loʊn/
- Specialized
:
préstamo a plazos
- If you suddenly find yourself urgently needing to move, whether it's after a divorce or under better circumstances, bad credit installment loans could help offset the cost if you can't afford it.
- credit and installment loan
- take an installment loan
Examples
-
The first category is payday loans, and the second category is payday installment loans.
Blog text (13) -
Many consumers prefer an installment loan because it offers predictable monthly payments that help with budgeting.
-
Revolving credit is a bit tougher than an installment loan, like a car or a home.
Blog text (11) -
By November 1988, the stand-by agreement had broken down, with Egypt receiving only the first of three installment loans.
Academic text (1994) -
Denise decided to apply for an installment loan to finance her new car, allowing her to make monthly payments over three years.
-
After doing some research, I found that an installment loan can be a more affordable option compared to credit cards for large purchases.
Synonyms
∞
2.0
An amount of money borrowed from a bank that must be paid back with interest
A loan you repay in equal regular payments with interest that people often use to buy a car or furniture
Money you pay back in regular fixed payments over time
Antonyms
- Specialized
16
3.7
A single large payment that you get all at once instead of in smaller parts
Surface Forms
Morphology
The meaning 'a loan repaid by a series of regular partial payments' is directly and transparently derived from combining 'installment' (a scheduled partial payment) with 'loan' (an amount borrowed). This straightforward financial noun-noun composition is cross-linguistically common (e.g., Spanish 'préstamo a plazos') and would be understandable to a B1 learner who knows both constituents.
Etymology
Installment loan comes from the idea of paying back a loan in small, regular installments or parts. Imagine buying a car and making the same monthly payment until the debt is paid; that's why it means 'a loan repaid with equal payments over a set period'.