A loan that requires regular installment payments of both principal and in­terest (as opposed to interest-only payments). It is fully amortized if the installment payments will pay off the full amount of the principal and all of the interest by the end of the repayment period. It is partially amortized if the install­ment payments will cover only part of the prin­cipal, so that a balloon payment of the remaining principal balance is required at the end of the repayment period.