Lump-Sum Payment

What is a lump-sum payment?

Lump-Sum Payment Definition: A lump sum payment is a large amount of cash or payment applied towards a major purchase, such as a car or home. These types of payments are paid as a means to reduce a loan drastically or as a downpayment before the remainder of a loan is financed.

Lump sum payments also refer to a large payment of a retirement pension or benefit payment paid at once, instead of as a series of payments over a specific time frame.

Aug 13 - comparewise personal loan banner

Other Personal Loan Terms:

comparewise

Didn’t find the information you were looking for?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!