interest on a loan, deducted in advance from the face value of the note.
Origin of bank discount
First recorded in 1905–10
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for bank discount
interest on a loan deducted from the principal amount when the loan is made and based on the loan's face value
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012