Meaning of “balloon payment” in the English Dictionary

business-english dictionary

"balloon payment" in Business English

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balloon paymentnoun [ C ]

uk us also balloon FINANCE

the final large sum of money paid at the end of a loan period:

The problem with balloon payments is that they can tempt people to buy expensive cars they normally couldn't afford.

(Definition of “balloon payment” from the Cambridge Business English Dictionary © Cambridge University Press)