Repayable Meaning: Definition, Examples, and Translations
💸
repayable
[rɪˈpeɪəbl ]
Definition
financial
Capable of being paid back, as a loan or debt.
Synonyms
redeemable, refundable, returnable.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| repayable |
Primarily used in financial contexts to indicate money that needs to be paid back over time.
|
| refundable |
Used to describe something that can be returned in exchange for a refund, typically money.
|
| redeemable |
Often used for vouchers, coupons, or points that can be exchanged for goods, services, or cash.
|
| returnable |
Used for items that can be sent back or returned, usually within a certain period, but might not always come with a refund.
|
Examples of usage
- The loan is repayable over a period of five years.
- These funds are repayable at a fixed rate of interest.
- The amount is repayable in monthly installments.
- The principal is repayable upon maturity of the loan.
- Interest is repayable at the end of the term.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Finance
- Loans are often categorized as repayable or non-repayable; most student loans fall under repayable.
- Interest rates can affect the total amount that is repayable, meaning you pay back more than borrowed over time.
- There are different types of repayment plans, like fixed or income-driven, impacting how much you repay monthly.
Legal Context
- In contractual agreements, the terms 'repayable' define the responsibilities of borrowers and lenders.
- Bankruptcy laws outline what happens if debts are deemed unpayable, often affecting repayable loans.
- In the case of business loans, failing to repay can lead to foreclosure on assets.
Cultural References
- In literature, themes of debt and repayment often highlight character flaws or redemption arcs.
- Movies frequently explore the consequences of failing to repay loans, with dramatic repercussions for characters.
- In many cultures, the importance of repaying debts reflects personal honor and integrity.
Origin of 'repayable'
Main points about word origin
- 'Repayable' comes from combining 're-' meaning 'again' and 'pay,' so it literally means to pay back again.
- The prefix 're-' is used in many English words to indicate repetition, such as redo or revisit.
- The term has been in use since the early 1900s and reflects financial obligations.
The word 'repayable' originates from the verb 'repay', which dates back to the late 15th century. The suffix '-able' is commonly used to form adjectives indicating capability or capacity. In the context of finance, 'repayable' emerged as a term to describe the ability of a loan or debt to be paid back. The concept of repayability is fundamental in financial transactions, ensuring the return of borrowed funds within agreed terms.