A fixed repayment plan is a type of loan repayment structure where borrowers pay a consistent amount over a set period. This amount typically includes both principal and interest, making it easier for borrowers to budget their finances. Fixed repayment plans are common in loans like mortgages and personal loans. These plans provide predictability, as the payment amount does not change over time. Borrowers can plan their monthly expenses without worrying about fluctuating payments. This stability can be particularly beneficial for those managing a tight budget or looking to avoid surprises in their financial planning.