Deposits Extension can be termed as internal EMI scheme for the customers, where they can make deposits in installments which is scheduled for days, weeks or months. Generally, it allows the customer not to make full payment at once, rather they can pay a small amount over a specified period of time. Automatic recurring payments are not supported at the moment, but it will soon be integrated into this extension.
This is the EXACT same plugin as distributed by the developer on WooCommerce. The developers’ links are provided above.