rebate
/ˈriːbeɪt/
noun
- An amount of money that is paid back to you because you have paid too much, or as an incentive to buy a product.
- The store offered a $50 rebate on the new smartphone.
- She received a tax rebate after filing her annual return.
- Mail in the form to claim your rebate on the washing machine.
verb
- To pay back part of an amount of money that someone has paid.
- Our landlord agreed to rebate a portion of the rent for the month we had no heat.
- The company will rebate 10% of the purchase price to customers.
- The government rebates a percentage of the cost for energy-efficient appliances.