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An installment account is a type of credit account that allows consumers to borrow a fixed amount of money and repay it through regular, scheduled payments over a set period. These payments typically include both principal and interest, making it easier for borrowers to budget their expenses. Common examples of installment accounts include auto loans, personal loans, and mortgages. Unlike revolving credit accounts, such as credit cards, installment accounts have a defined end date when the loan is fully paid off.
What else can I help you with?
Can we deposit monthly installment by transferring the amount from bank account to rd account?
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Definition of checking account?
an account at a bank against which checks can be drawn by the account depositor.
What is the definition of administrator account?
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How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
What is the definition of current account?
A bank account that you use for daily purchases and other similar transactions. Not an account to use for saving.
Letter format for recurring deposit installment complete so transfer this money in saving account?
Letter format for recurring deposit installment to from saving account
What is the account entry should do for a car company which is installment?
The account entry that you should do for a car company, if it's an installment payment, is a debit. This means that you have paid the bill and you deducting it from your bank balance.
Can we deposit monthly installment by transferring the amount from bank account to rd account?
we can do briton hhxjjkhjkhkjhfgjk
Do you have multiple penal interest on overdue account?
There is only single penal interest to be charged on an overdue account. We can have a separate penalty fee on overdue account when any installment becomes due.
What are the eight types of business transaction?
cash sales, credit sales,purchase on account,collection from sales on account,settlement of purchase on account, direct purchase on cash,installment sales and installment payment
What is the definition of due to?
on account of
Define installment buying?
You can repay back loans in "X" amount of days. You don't have to repay the loan right away. This is the same with credit.
Definition of checking account?
an account at a bank against which checks can be drawn by the account depositor.
How can you close your American General Finance account -?
Contact your local branch of AGFS. If the account was an installment loan, the account will "close out" at time of payoff. If the account is a revol line of credit, and has a zero balance, a written authorization can close the account or after 6mos of no activity the account will automatically close.
What is the definition of administrator account?
lkm,k
What is mod balance in a bank account?
what is the mod balance in account what is the definition of mod balance
How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
