"Accelerated payments" refers to making quicker or faster payments than originally agreed upon. It means paying off a debt or obligation sooner than the scheduled timeline or making larger payments than required. Full definition
Focus on accelerating the payment of your car debt payment first. (debtfirms.com)
Finally, if you're currently making accelerated payments on your low - interest - rate mortgage, consider whether making RRSP or TFSA contributions might be a better use of your extra cash. (business.financialpost.com)
You can then see how much interest you can save over the course of your mortgage by changing your mortgage rate, or by making accelerated payments and lump sum payments. (ratesupermarket.ca)