bank discount

noun

1. interest on a loan, deducted in advance from the face value of the note.

bank discount

noun

1. interest on a loan deducted from the principal amount when the loan is made and based on the loan's face value

Word History and Origins

Origin of bank discount¹

First recorded in 1905–10

Example Sentences

From Amazon devices on the cheap, to exclusive Anker power bank discounts, and a small, but decent eBay coupon, here are the best deals of the week.

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A. The bank discounts all approved bills offered to it by persons or firms having properly constituted accounts.

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The interest is of the nature of a “bank discount,” and is therefore collected in advance, the only certain way, it may be remarked, to collect it at all.

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The bank discounts merchants' bills of exchange for two months.

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Central bank discount rate: This entry provides the annualized interest rate a country's central bank charges commercial, depository banks for loans to meet temporary shortages of funds.

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