balloon payment noun
plural ∼ -ments [count] US : a final payment that is much larger than any earlier payment made on a debt
▪ They agreed to pay $1,000 a year for five years and then make a balloon payment of $50,000 at the end of the term.
▪ They agreed to pay $1,000 a year for five years and then make a balloon payment of $50,000 at the end of the term.
