Definition of down payment in English:
An initial payment made when something is bought on credit.
- You may need money for down payment only or for down payments and few additional installments too.
- On June 13, the People's Bank of China issued a circular, saying commercial banks should limit lending to real estate developers, beef-up credit management and increase down payments to be paid by buyers of second or luxury homes.
- This money helps first-time home buyers - people with very little income or with limited income - to get down payments to get into houses.
Definition of down payment in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Malaysia
Most popular in Pakistan