initialpay
nounUK /ɪˈnɪʃəl peɪ/
US /ɪˈnɪʃəl peɪ/
The first amount of money you give when you buy something.
We made the initialpay on our new house today.
RELATED WORDS
OTHER MEANINGS
2. The starting salary offered to a new worker.
The initialpay for the job was higher than she expected.
3. The first money paid to start a service or subscription.
The initialpay covers the first three months of the plan.
4. A small sum given to hold an item until the rest is paid.
He left an initialpay to keep the bike on hold.