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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
“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


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Word History and Origins

Origin of bank discount1

First recorded in 1905–10

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bank deposit insurancebank draft