instalment
noun

a part of a payment which is paid regularly until the total amount is paid

Example

The first instalment is payable on signature of the agreement.

(Note The US spelling is installment.)
Usage
to pay £25 down and monthly instalments of £20
to pay a first payment of £25 and the rest in payments of £20 each month
Browse by Subjects
deferred payment
pay off
promise
monthly
hire purchase agreement
See All Related Terms »

NYSE Regulation
equity gearing
activity chart
cost pool
prior charge percentage