Repayment Meaning: Definition, Examples, and Translations
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repayment
re-pay-ment
Definitions
financial
The action of paying back a loan or money that was borrowed.
Synonyms
clearing, payment, settlement.
Examples of usage
- The repayment of the loan is due at the end of the month.
- She made regular repayments on her mortgage.
general
An act of returning or restoring something that has been lost or stolen.
Synonyms
reimbursement, restitution, return.
Examples of usage
- The repayment of the stolen goods was appreciated by the owner.
- He demanded repayment of the lost items.
Translations
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Quick facts about “repayment”
Repayment is a 3-syllable noun (re-pay-ment). It is pronounced /ɹiˈpeɪmənt/ in American English and /ɹɪpˈeɪmənt/ in British English. On finesentence.com it has 2 meanings, 6 synonyms, and translations into 21 languages. It ranks #7,784 among the most common English words.
Did you know?
“repayment” in economics
- Repayment can impact credit scores, which affects an individual's ability to borrow money in the future.
- In economics, timely repayment is crucial for maintaining lender trust and reducing the risk of defaults.
“repayment” in cultural perspectives
- In many cultures, repaying debts is seen as a moral duty and a sign of integrity.
- Some societies have formal repayment ceremonies to honor financial obligations.
“repayment” in literature
- In many stories and fables, characters face consequences for failing to repay debts, illustrating moral lessons about responsibility.
- Classic literature often explores themes of debt and repayment, reflecting societal values about honor and obligation.
“repayment” in law
- Legal agreements often specify repayment terms to protect both borrowers and lenders.
- In case of failure to repay, legal actions can be taken, which might include garnishing wages or seizing assets.
Origin of 'repayment'
Main points about word origin
- The word comes from the prefix 're-' meaning back or again, and 'payment' which refers to the act of giving money for goods or services.
- Historically, payment was often made in goods or services, not just money, making repayment a broader concept in ancient times.
The word 'repayment' originated from the combination of 're-' meaning back, again, and 'payment'. It first appeared in the 14th century in Middle English. The concept of repayment has been an integral part of human interaction and finance throughout history, reflecting the importance of honoring commitments and restoring what is owed. Over time, repayment has evolved to encompass various forms of returning borrowed items or settling debts, playing a crucial role in economic relationships and personal integrity.
See also: nonpayer, nonpayment, pay, payable, payback, payee, payer, paymaster, payment, payments, payoff, payor, paywise, repay, spay.
Rhymes
Repayment rhymes with embayment, nonpayment, payment, claimant, prepayment, arcement, copayment and downpayment.