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

Use instalment in a sentence

You may want to see if it is ok that you pay off by using an instalment plan that will offer you more flexibility.

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The instalment payments were made by the individual who desired the bookshelf that was too expensive to be bought outright.

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With his house as collateral, the young man felt real pressure for the first time in his life when he made his first instalment to pay back his small business loan.to the bank.

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amount paid up back