bank discount

American  

noun

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

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bank discount British  

noun

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

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Etymology

Origin of bank discount

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.

From The Verge

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

From Project Gutenberg

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.

From Project Gutenberg

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

From Project Gutenberg

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.

From Project Gutenberg