What does balloon payment mean?

balloon payment meaning in Law Dictionary

payment made on a loan this is certainly highe as compared to ones before it. It's done after the period. It pays what's kept after the final repayment.

balloon payment meaning in Business Dictionary

Loan installment (paid often after the loan duration) this is certainly much bigger compared to other installments. A balloon payment is needed whenever previous installments failed to extinguish the loan, either deliberately or because of one or late repayments.

balloon payment meaning in Loan Terminology Glossary

 An installment repayment on a promissory note - often the final one for discharging the debt - which will be dramatically larger than another payments offered in terms of the promissory note.