Definition, Meaning & Synonyms

outstanding-balance

noun

out·stand·ing bal·ance

Definition

The amount of money that is still owed on a loan or account after payments have been made.

Examples

After paying off part of the loan, the outstanding balance is now $5,000.
Make sure to check your credit card statement to see the outstanding balance before your payment is due.
The outstanding balance from last month’s bills must be settled here.

Meaning

Outstanding balance refers to the total amount of money that remains to be repaid on a financial obligation, such as a loan, credit card, or other types of debt after factoring in any payments made.