Debt Service

Cash required over a given period for the repayment of interest and principal on a debt.

Investopedia Says:
Your monthly mortgage payments are a good example of debt service.

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1. Cash outlay needed to meet principal and interest payments on a mortgage or other note, usually expressed as a monthly or annual payment. Fixed rate consumer loans, including mortgages, are often referred to as Constant Payment obligations, as the regular payments needed to fully amortize the debt remain the same through the life of the loan.

2. Amount needed in a calendar year or fiscal year to meet bond interest payments, retire the principal on maturing bonds, or make payments to a sinking fund.

The periodic payments, generally principal and interest, made on a loan. See Annual Debt Service.

The periodic repayment of a loan, including both accrued interest and a portion of the principal.