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A final loan payment that is significantly larger than the payments preceding it. n a large payment that concludes a series of smaller payments, for. Balloon payment – definition of balloon payment by The Free Dictionary
Balloon Payment. The final installment of a loan to be paid in an amount that is disproportionately larger than the regular installment. When a loan is made, repayment of the principal, which is the amount of the loan, plus the interest that is owed on it, is divided into installments due at regular intervals-for example, every month.