Definition, Meaning & Synonyms
amortise
verb
/əˈmɔːr.taɪz/
Definition
To gradually reduce or pay off a debt over time through regular payments.
Examples
- They decided to amortise the loan over 15 years.
- The company plans to amortise the cost of the new equipment.
- Homeowners often amortise their mortgages with monthly payments.
Meaning
Amortise involves the process of paying off a debt in regular installments that cover both the principal amount and any interest owed.
Synonyms
- Repay
- Pay off
- Liquidate
