Give the meaning of Rebate. (2024)

FAQs

What does rebate mean? ›

Definition. A rebate is a deal in which a supplier or vendor offers to return a portion of a customer's purchase price if they buy a certain amount (usually of a specific product) in units or dollars.

Rebate meaning

A rebate is, by definition, a sum of money that is paid back to you. You'll most commonly have experienced this in the form of a tax rebate, i.e., a situation in which you have paid too much tax and are due a repayment.

an amount of money that is paid back to you after you have paid too much: She thinks she is due a tax rebate. Any homeowner who has had a devaluation in their property is eligible for a rebate.

A rebate is a credit paid to a buyer of a portion of the amount paid for a product or service. In a short sale, a rebate is a fee that the borrower of stock pays to the investor who loaned the stock.

They're way better for profit margins. In our example above, the rebate program costs 33% less. Savings will vary depending on the expected claim rate, but in general, a rebate is more cost effective than a discount even at a claim rate of 90%.

Cash rebates are a post-sale incentive that customers can claim after they have completed a purchase. Unlike immediate discounts that reduce the sale price at the point of transaction, cash rebates maintain the product's original price but promise a refund which is processed subsequently.

A rebate is a partial refund of the cost of an item. It acts as an incentive to help sell the product. If your new cell phone came with a rebate, you'll get a check in the mail for a certain amount of the cost.

Rebate payouts refer to a form of financial incentive offered to customers by businesses or manufacturers as a partial refund or discount on a purchase made by the customer.

a return of part of the original payment for some service or merchandise; partial refund.

A 100 percent rebate refers to a situation where the buyer receives a full refund or discount on their purchase. In simple terms, it means getting back every penny you spent on a product or service.

What is the nearest in meaning of rebate? ›

a refund or discount. a tax rebate. Synonyms. refund. They plan to demand a refund.

When an individual pays more than his/her tax liability he/she receives a refund on the paid amount which is known as tax rebate. The excess money is refunded at the end of the fiscal year. For claiming a tax refund one needs to file an tax return.

For example, the supplier could offer a rebate of 5% on the total annual purchases if a buyer agrees to purchase at least $1 million worth of product in a year. If the customer buys $1.2 million worth during the year, they are entitled to a rebate of 5% of $1.2 million, or $60,000.

A rebate is an upfront discount that gives you cash back after you make a purchase, and typically more quickly than a tax credit.

rebate. 1) n. a discount or deduction on sales price. A secret rebate given by a subcontractor to a contractor in return for getting the job is illegal, since it cheats the person hiring the contractor. 2) v. to give a discount or deduction.

a return of part of the original payment for some service or merchandise; partial refund.

A rebate option is an offer for a cash return on the purchase of a consumer good or service. Rebates can come in many different forms. Flat-rate rebates are automatically subtracted from the purchase price. Conditional rebates are only valid under certain conditions, such as "buy one, get one free."

While both terms have the same meaning, cashback and cash rebates can work in different ways. In Singapore, cashback is almost always used exclusively when discussing credit cards. Meanwhile, cash rebates can refer to a wider range of perks and benefits that you can use to reduce your expenditure.