Instalment credit - Definition

Instalment credit is now-a-days a popular source of finance for consumer goods like television, refrigerators as well as for industrial goods. You might be aware of this system. Only a small Amount of money is paid at the time of Delivery of such articles. The balance is paid in a number of instalments. The supplier charges Interest for extending credit. The amount of interest is included while deciding on the amount of instalment. Another comparable system is the hire purchase system under which the purchaser becomes Owner of the goods after the payment of last instalment. Sometimes commercial banks also grant instalment credit if they have suitable arrangements with the suppliers

Terms near "Instalment credit"

Institute for Supply Management (ISM) Manufacturing Index

Institutional Investor

Interbank Rates

Interbank/Interdealer Market

Interest

Interest (Rate)

Interest Rate Swap

International Monetary Fund (IMF)

International Monetary Market (IMM)

International Organization for Standardization (ISO)