raaman
Valued Contributor
Outstanding debt is always a term associated with loan transaction activities between customers and financial institutions. Understanding the concept of outstanding debt as well as grasping the bank's credit balance calculation methods will help customers choose loans that suit the purpose of using the loan and their ability to repay debt in time. Outstanding Balance is generated during banking transactions.
The outstanding balance amount will be different depending on the outstanding balance calculation method of each bank concerned. In other words, outstanding debt is the amount of money that the customer still owes the bank for the mortgage, unsecured, or installment loan period. While signing a loan agreement, the bank will give the customer a schedule called the repayment schedule.
The outstanding balance amount will be different depending on the outstanding balance calculation method of each bank concerned. In other words, outstanding debt is the amount of money that the customer still owes the bank for the mortgage, unsecured, or installment loan period. While signing a loan agreement, the bank will give the customer a schedule called the repayment schedule.
