Banking Loan Clerk Question:
Download Questions PDF

Tell us what is ‘balloon payment’?

Banking Loan Clerk Interview Question
Banking Loan Clerk Interview Question

Answer:

The ‘balloon payment’ is the final lump sum payment that is due. When the entire loan payment is not amortized over the life of the loan, the remaining balance is due as the final repayment to the lender. Balloon payment can occur within an adjustable rate or fixed rate mortgage.

Download Banking Loan Clerk Interview Questions And Answers PDF

Previous QuestionNext Question
Tell us what is ‘Availability Float’?Tell us how bank earns profit?