If you have a loan, you are likely to make the repayment in monthly instalment. However, it is also possible to repay the whole amount upon maturity.
Repayment in instalments means that regular payments are made at certain intervals, usually every month. This way the debt gradually decreases. Each instalment include elements of principal and interest. This is considered a safer way to the bank to collect the debt, since the regular cash from the borrower is an indication of the sound financial position.
In some cases,
