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01:08 Oct 18, 2000
French to English translations [PRO] Bus/Financial
French term or phrase:prêt in fine
We have different kinds of loans listed "Type de prêt: amortissable, in fine, autre". "amortissable" is redeemable (I think) but "in fine"? (I know it's not infinite!)
Explanation: For "prêt in fine" : EuroDicAutom uses "bullet" for "in fine". "Bullet loan" confirmed by the dico I refer to below as ' a loan in which all ealry payments are of interest only, the final payment (bullet) includes the prinicpal. (Sounds like one of those terrible mortgages gone mad!).
[Otherwise, a "bullet" is a security that pays aguaranteed fiwed interest at a specific date. The two are obviouslyt linked.]
An "amortizing loan" is one where you pay off the debt with payments over a
period of time. (In respect of a mortgage for example, it is one where principal & interest are repaid usually by equal payments, by the end of the mortgage term. Whilst equal, the early payments usually consist of interest, later ones covering the principal - Int Dic of Insurance & Finance, Chtd Instit of Bankers).