VariousWords beta
Definitions:
Noun
                                                
                        
                            installment credit
                        
                                                
                        
                            installment loan
                        
                                                
                                                    
                
                    
                    Definition: a loan repaid with interest in equal periodic payments
Definition: A loan that is repaid over time with a set number of regularly scheduled payments, and may or may not include a balloon payment. A home loan, a student loan, or an auto loan, for example, may be considered a type of installment loan.