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prepayment penalty

noun

Definitions

  1. An additional fee charged for paying off part of or the entirety of a loan ahead of the…

    An additional fee charged for paying off part of or the entirety of a loan ahead of the scheduled due date in order to compensate for the loss of interest income suffered by the creditor in such case.

The neighborhood

Vish — recursive loop

No curated loop yet for prepayment penalty. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA