splátce

A splátce is a Czech term that translates to installment or repayment in English. It refers to a portion of a larger debt that is paid back at regular intervals, typically monthly, as part of an agreed-upon payment schedule. This is a common method for individuals and businesses to finance significant purchases like houses, cars, or equipment, or to manage larger loans over time.

The total amount to be repaid is divided into a series of splátky, which usually include both principal and interest. The size and duration of the splátky are determined by the loan amount, the interest rate, and the agreed repayment period. Missed or late splátky can lead to penalties, increased interest charges, and damage to the borrower's credit history. Understanding the terms of each splátce is crucial for responsible financial management.