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Payment cardA plastic card, either charge card, credit card or debit card used by the owner to purchase goods or services or to obtain cash.Similar MatchesBreak even lease paymentBreak even lease paymentThe lease payment at which a party to a prospective lease is indifferent between entering and not entering into a lease arrangement. Installment paymentsInstallment paymentsDistribution of plan assets to beneficiaries based upon a regular schedule. Prepayment penaltyPrepayment penaltyA fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. Repayment mortgageRepayment mortgageA mortgage where throughout the term, regular payments (usually monthly) are made to partly repay interest on the capital and to partly repay the capital itself (the amount of the loan).Initially the largest proportion of the repayments will be used to pay interest since the capital amount outstanding is at its highest value. Therefore over the initial years the capital will not reduce very much. However as the years proceed more and more of the monthly repayments will be applied to reducing the capital until towards the end of the term the large proportion will be paying off capital and a small proportion paying interest.In the event that interest rates rise then often the monthly repayments will rise accordingly. Alternatively, to keep the same monthly repayments the term will need to be extended. If interest rates fall then the reverse applies. It is usually a requirement of the lender (that is, a building society or bank) providing the mortgage that the borrower takes out life assurance so that repayment is made in the event of his/her death during the term. Standard payment calculationStandard payment calculationA calculation that is used to determine the monthly payment necessary to repay the balance of a home loan in equal installments. Further SuggestionsBalance of paymentsPIK (Payment in kind) securities Immediate payment annuity periodic payment plan Payment in kind (PIK) bond Repayment plan Balance of payments surplus maintenance payments Zero prepayment assumption Break even payment rate Documents against payment Payment holiday Balance of payments Annualised payment scheme Discount payment Payments netting FHA prepayment experience Balloon Payment Prepayment penalty Optional payment bond Stop payment Repayment period Single payment bond Payment Cap Method of payment |
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