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a portion or instalment of a larger payment


tranche = Teil, Teilbetrag, Teilausgabe, Teil einer Emission annual tranche = Jahresscheibe bond tranche = Anleihetranche budget tranche = Budgettranche yearly tranche = Jahresscheibe --- 36,900,000 Google hits



Ukrainian officials say the IMF wants 19 new bills passed before it will pay out the next TRANCHE, of $1.7 billion. There is homework still to do.

The Economist

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- a portion or instalment, especially of a loan or share issue

(Collins Dictionary)


Coming from Old French "trenchier", which means cut, the word tranche is now used primarily in financial contexts and refers to a partial payment, usually of a loan or debt. If you divide a large sum up into smaller portions or instalments, you "cut" it up. In this way, large payments, whether from or to governments, international monetary organizations, or bank, become more manageable.

The German word "Rate" expresses the idea of tranche or instalment, but don't confuse it with its false friend "rate" in English. In a financial context, the word "rate" refers to a fixed price that is paid or charged for something. For example, the "interest rate" is the fee for borrowing a sum of money, and is expressed as a percentage of the amount borrowed. Interest rate is best translated with "Zinssatz".


instalment, partial payment, debt, portion, share (of something)

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"They paid back the first tranche of 30% last week."

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