installment payment

USAGE SUMMARY

"installment payment" is correct and usable in written English.
It usually refers to a payment plan in which a purchase is paid off over a certain period of time in multiple payments with interest. For example, you could say, "I am paying for the computer in an installment payment plan with a rate of 5% interest."

✓ Grammatically correct

News & Media

Encyclopedias

Wiki

Human-verified examples from authoritative sources

Exact Expressions

19 human-written examples

Singer was also a marketing innovator and was a pioneer in promoting the use of installment payment plans.

Encyclopedia Britannica

"It is about time that the Port Authority made an installment payment of the environmental debt they owe," she said.

The New York Times

More than four years after it started selling iPhones in India, Apple is aggressively pushing the devices with installment payment plans that make it more affordable, a new distribution model and a marketing blitz.

The New York Times

On a related note for people who are hard-pressed financially, he said, "the I.R.S. promises to be a little more flexible in approving requests for installment payment plans" for their taxes on Form 9465.

The New York Times

Its Brazil-only marketplace has made a point of offering domestic brands, prices are listed in Brazilian reais, customer service is in Portuguese, and there is an installment payment option, a service offered at most stores in Brazil but infrequently on e-commerce sites.

The New York Times

Here are the due dates and periods covered for each installment payment: How to Make Your Estimated Tax Payments.

Forbes

Human-verified similar examples from authoritative sources

Similar Expressions

41 human-written examples

Violating the agreement could let the bank cut off their installment payments.

The New York Times

Some insurers charge interest on installment payments, so try paying upfront for the whole year.

Independent

(Structured Settlement offers lump-sums to people receiving installment payments — from personal injury settlements or lottery winnings, for example).

The New York Times - Tech

For instance, generally if you elect to receive installment payments from your lottery winnings, then the money is taxable as you get each installment.

The New York Times

He said the two had misrepresented the reason for the tax arrears and falsely asserted they had made arrangements to catch up with installment payments.

The New York Times

Expert writing Tips

Best practice

When discussing financial agreements, clearly specify the interest rate and any associated fees with the "installment payment" plan to ensure transparency.

Common error

Avoid using "installment payment" when referring to a single, complete payment. "Installment payment" denotes a part of a series of payments towards a total cost.

Linguistic Context

The phrase "installment payment" functions as a noun phrase, typically serving as the object of a verb or preposition, indicating a method of payment. As Ludwig AI states, it refers to a payment plan where a purchase is paid off over time.

Expression frequency: Common

Frequent in

News & Media

65%

Wiki

15%

Encyclopedias

10%

Less common in

Formal & Business

5%

Science

3%

Social Media

2%

Ludwig's WRAP-UP

The phrase "installment payment" is a common and correct way to describe a payment made as part of a series of payments over time. Ludwig AI confirms its grammatical soundness and typical usage. While primarily found in news and media sources, it's also used in encyclopedias and wikis. When using this phrase, ensure clarity regarding interest rates and fees. Alternative phrases, such as "payment plan" or "deferred payment", can provide similar meanings with slightly different emphasis. This phrase is most effective in professional and neutral contexts when discussing financial arrangements.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

payment in installments

Reorders the original words without any semantic change.

deferred payment

Focuses on the delayed aspect of the payment.

periodic payment

Highlights the regular intervals of the payments.

payment plan

Emphasizes the structured arrangement for paying.

split payment

Indicates that the full amount is divided into smaller portions.

staggered payment

Suggests that payments are spread out over time.

partial payment

Implies that each payment covers only a fraction of the total debt.

payment by arrangement

Highlights an agreed upon alternative way to pay the debt.

time payment

Broadly refers to any payment made over a period.

gradual payment

Focuses on the step-by-step, incremental aspect of settling a balance.

FAQs

How is an "installment payment" plan structured?

An "installment payment" plan involves dividing the total cost into smaller, regular payments made over a defined period, often including interest. Terms vary based on the agreement between the lender and borrower.

What are the benefits of using an "installment payment" option?

Using an "installment payment" option can make larger purchases more affordable by spreading the cost over time. It allows you to acquire goods or services without paying the full price upfront, although interest charges may apply.

What are some alternatives to "installment payment"?

Depending on the context, you might consider alternatives like "payment plan", "deferred payment", or "periodic payment". Each emphasizes a slightly different aspect of paying over time.

How does an "installment payment" differ from a lump-sum payment?

An "installment payment" is one of several payments made over time, while a lump-sum payment is a single, full payment made at once. An "installment payment" plan is useful when you cannot afford the full amount upfront.