repayment terms

Repayment terms are the conditions that outline how and when you will pay back a loan. They specify the amount you owe, the schedule for payments (such as monthly or quarterly), the length of the repayment period, and any interest or fees involved. These terms help both you and the lender understand your obligations and ensure there are clear expectations. Paying on time as agreed helps maintain good credit and avoids penalties. Essentially, repayment terms provide a roadmap for responsibly settling your debt over the agreed timeframe.