on time is an adjective and adverb meaning "acting or arriving or performed exactly at the time appointed". It carries 3 recorded senses.
payable in installments within a designated period of time
“we were short of cash, so we purchased our refrigerator on time”
Definitions, synonyms and semantic relations for on time come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.