DEFINITION of 'Bullet'

1) A one-time lump-sum repayment of an outstanding loan, typically made by the borrower after very little, if any, amortization of the loan. This can also refer to a loan that requires a disproportionately large portion (or even all) of the loan to be repaid at maturity.

2) A slang term for a letter of rejection sent to a job applicant, informing the candidate that he or she has not been offered the job, has been denied an interview or some similar form of rejection.


1) Loans can have provisions built into them upon issuance to allow borrowers to make a one-time lump-sum repayment of the loan at their discretion. This option can prove useful for borrowers, particularly if their financial situation significantly changes for the better shortly after the loan is issued. For example, an early lump-sum repayment can considerably lower the interest expense accrued over the course of the loan.

2) Companies typically send out bullet letters once they have filled the position they had available, or (if the bullet letter denies an interview) once the company has selected its entire interview pool. In other cases, a company may simply state in the job advertisement that it will only contact applicants who are selected for an interview.

  1. Repayment

    The act of paying back money previously borrowed from a lender. ...
  2. Lump-Sum Distribution

    A one-time payment for the entire amount due, rather than breaking ...
  3. Bullet Bond

    A debt instrument whose entire face value is paid at once on ...
  4. Bullet Loan

    Any loan that requires a balloon payment at the end of the term ...
  5. Bullet GIC

    A type of guaranteed investment contract where a single payment ...
  6. Balloon Maturity

    1. A repayment schedule for a bond issue where a large number ...
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