Installment Loans

Amortization is the repayment pattern through which scheduled loan payments gradually reduce principal and interest over time.

A debt consolidation loan is a loan used to combine multiple debts into one structured repayment arrangement.

A fixed interest rate stays the same for the agreed period instead of moving with changing market conditions.

Installment credit is borrowing where a defined amount is repaid through scheduled payments over time.

Loan term is the agreed repayment length for a loan under the credit agreement.

Canadian borrowing terms for personal loans, lines of credit, and the difference between fixed and reusable debt.

A payment deferral is a temporary arrangement that lets the borrower postpone or modify scheduled loan payments.

A personal loan is an installment-credit product that advances a set amount to be repaid through scheduled payments.

A secured loan is an installment loan backed by collateral accepted by the lender.

An unsecured loan is an installment loan approved without specific pledged collateral.

A variable interest rate can change over time under the terms of the credit agreement.