# Installment note

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An **installment note**[1] is a form of [promissory note](/source/Promissory_note) calling for payment of both [principal](/source/Debt) and [interest](/source/Interest) in specified amounts, or specified minimum amounts, at specific time intervals. This periodic reduction of principal [amortizes](/source/Amortization_(business)) the [loan](/source/Loan).

## References

1. Conrad, Shaun. ["What is an Installment Note? - Definition | Meaning | Example"](https://www.myaccountingcourse.com/accounting-dictionary/installment-note). *myaccountingcourse.com*. Retrieved 23 June 2025.

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