Bank Discount Definition
noun
The interest on a loan computed in advance and deducted at the time the loan is made.
American Heritage
Interest deducted in a lump sum by a bank from a loan when the loan is made: it is computed from the date of the loan to the date of the final payment on the basis of the original amount of the loan.
Webster's New World
Synonyms:
Other Word Forms of Bank Discount
Noun
Singular:
bank discountPlural:
bank discounts
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