instalment

Definition

noun

a part of a payment which is paid regularly until the total amount is paid

ExampleThe first instalment is payable on signature of the agreement.

(NoteThe US spelling is installment.)

Usage

the final instalment is now due

the last of a series of payments should be paid now

Usage

to pay £25 down and monthly instalments of £20

to pay a first payment of £25 and the rest in payments of £20 each month

Usage

to miss an instalment

not to pay an instalment at the right time