Account Terms

    Terms Duration: Definition

    The original term length of an installment account.

    Definition

    Terms Duration specifies the original repayment period for an installment account, typically expressed in months. For a 5-year auto loan, this would be 060 (60 months). This field is used with Terms Frequency to understand the payment schedule.

    Examples

    • 060 = 60 months (5 years)
    • 360 = 360 months (30 years mortgage)

    Usage Notes

    • Required for installment accounts
    • Should reflect original term, not remaining
    • Used with Terms Frequency for payment schedule

    Related Metro 2 Fields

    27
    Terms Duration
    Position 191-193

    Related Terms

    Terms FrequencyPortfolio TypeOriginal Loan Amount

    More Account Terms

    Account Status
    A code indicating the current condition of an account.
    Account Type
    A code specifying the type of credit account.
    Account Number
    The unique identifier assigned to a credit account.
    Amount Past Due
    The total amount currently overdue on an account.
    Current Balance
    The total outstanding balance on an account.
    Credit Limit
    The maximum amount of credit available on a revolving account.
    Highest Credit
    The highest balance ever recorded on the account.
    Original Loan Amount
    The initial amount borrowed on an installment account.

    Simplify Credit Reporting

    Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.

    View PricingBrowse All Terms