What is outstanding amount in loan?

When we were younger, outstanding was a good thing. It was a compliment. But adulthood took that pleasure away from us, hasn’t it. Now if we see the outstanding amount written on our financial statements, we freak out (at least I do). I know this sounds so dramatic but tell me if you never thought of it. Anyway, I see you are yet not sure what is outstanding amount in loan. Well, let me help you know everything you need to know about it. 

Outstanding loan amount is the amount you still owe to the bank after you availed a loan from a lender or financial institution. Outstanding amount in loan can arise in case you availed any of the following loan services:

• Personal loan

• Vehicle loan

• Home loan

• Gold loan

• Business loan, etc.

I hope this clarifies what is outstanding amount in loan for you. You must get rid of it as soon as you can to keep a good credit score and be debt-free.

I am in a helpful mood today so I thought if someone comes here to read about it in Hindi, they should get what they want. So here is a brief explanation about the outstanding loan amount in Hindi.

बकाया ऋण राशि वह राशि है जो आप किसी ऋणदाता या वित्तीय संस्थान से ऋण प्राप्त करने के बाद भी बैंक को देते हैं। यदि आपने कोई ऋण सेवा प्राप्त की है तो ऋण में बकाया राशि उत्पन्न हो सकती है|