Partial payment
Definition
A partial payment is a payment that is less than the full amount due. It is not the monthly payment itself, and a servicer may handle it differently from a full payment.
In plain English
The monthly payment is the amount the statement says is due. Sending less than that amount is a partial payment. A servicer may hold a partial payment, return it, or apply it under the loan’s rules. This page names the short payment. It does not publish a handling calendar.
Technical definition
12 CFR 1026.41 includes official periodic-statement treatment of partial payments and is PRIMARY for the concept.
Why it matters
Delinquency questions often start when a payment is short. Readers need the short payment kept distinct from the scheduled monthly payment.
Related terms
Sources reviewed
12 CFR 1026.41
ObservedSeptember 6, 2026