installment rate
1
3.4
- noun
- /ɪnˈstɔlmənt reɪt/
- US
- Many car loans allow you to adjust the installment rate to fit your monthly budget.
Examples
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The bank offered a lower installment rate for clients with excellent credit histories.
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Can you tell me the installment rate for this mortgage?
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Due to the high installment rate, she decided to look for more affordable financing options.
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The installment rate for the car loan is very reasonable.
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The bank offered a lower installment rate for clients with excellent credit histories.
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Many car loans allow you to adjust the installment rate to fit your monthly budget.
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Due to the high installment rate, she decided to look for more affordable financing options.
Synonyms
∞
2.1
The price charged for something often per hour or unit
25
3.2
One part of the total cost paid regularly over time
2
2.7
An amount of money you give at fixed times, for example each month
1
3.6
The amount of money you pay back for a loan during a set time
1
2.7
The amount of money paid for each hour or work period
How Much
Surface Forms
Morphology
This phrase is directly compositional: 'installment' means a scheduled partial payment and 'rate' means an amount or charge, so 'installment rate' straightforwardly denotes the amount to be paid per installment. The noun+noun composition follows a common, cross-linguistic pattern, so a B1 learner who knows both constituents can infer the meaning.
Etymology
The term installment rate comes from the idea of paying for something in parts: installment is one part you pay on a regular plan and rate is the fixed amount for that part. So installment rate means 'the amount to pay at each regular time'.