principal and interest payment

P&I

The principal and interest on a loan. The borrower must pay the principal and interest according to the agreed-upon schedule. See also: PITI, Amortization.

principal and interest payment

The typical mortgage loan payment includes all accrued interest on the principal balance and some reduction of the principal;the borrower pays principal and interest.Only the interest portion of the payment is deductible on the borrower's taxes.

References in periodicals archive ?
Since his client has separate principal and interest payments, once the principal is reduced, his lender will also reduce the amount of the payments.