Outstanding balance意思

"Outstanding balance" is a term commonly used in finance and accounting to refer to the amount of money that is still owed on a debt, loan, or account after all payments have been made and any fees or interest have been applied. It is the balance that remains unpaid and is typically the amount that needs to be paid to clear the debt or bring the account to a zero balance.

The outstanding balance can apply to various types of financial obligations, such as credit card balances, mortgage loans, auto loans, personal loans, or any other type of debt where there is a principal amount owed plus any accrued interest or fees.

For example, if you have a credit card with a $1,000 limit and you've made purchases totaling $800, your outstanding balance would be $800 until you make a payment. If you then make a payment of $200, your outstanding balance would be reduced to $600. Once you pay the outstanding balance in full, the account would be considered paid in full, and the balance would be zero.