A loan in which the repayment is made in more than one installment, as opposed to a bullet loan where the repayment is made in a single lump sum at the end of the term.
A loan in which the whole of the principal is repaid in a single final payment known as a 'bullet', although interest may be paid in interim payments. Compare with an amortizing loan.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.