adjective
- able to be paid in advance before the due date or before goods or services are delivered
Usage: commonly used in finance, insurance, and commercial contexts
Examples
- The loan is prepayable without penalty after the first year.
- Most utility bills are prepayable through online banking.
- The insurance premium is prepayable in full or in monthly installments.
- This mortgage has a prepayable clause that allows early repayment.
- Prepayable subscriptions offer a discount compared to monthly payments.