Definition, Meaning & Synonyms
installment
noun
/ɪnˈstɔːl(mə)nt/
Definition
An installment is a part of a payment that is made regularly until a total amount is paid off.
Examples
- She paid for her new car in six monthly installments.
- The book was published in three installments in the magazine.
- He made an installment payment of $200 towards the loan.
Meaning
It refers to a system of breaking up a total amount due into smaller, manageable payments made over time.
Synonyms
- payment
- contribution
- portion
- installment payment
