What is amortisation?

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Amortisation refers to paying the due amount in installments. This provides the borrower somw relaxation so that he won’t have to pay all the amount at one time.
It is running down or payment of a loan by instalments. An example is a repayment mortgage on a house, which is amortised by making monthly payments that over a pre-agreed period of time cover the value of the loan and interest.
With loans that are not amortised, the borrower pays only interest during the period of the loan and then repays the sum borrowed in full.