Payoff Statement

2 topics · 3 sources

Banking

A formal statement prepared when a loan payoff is contemplated. It shows the current status of the loan account, all sums due, and the daily rate of interest.

The Office of the Comptroller of the Currency — Dictionary of Banking Terms and Phrases
Office of the Comptroller of the Currency, U.S. Department of the Treasury — Dictionary of Banking Terms and Phrases retrieved 2014-05-16

Business› Finance

Personal Finance

A formal statement prepared when a loan payoff is contemplated. It shows the status of the loan account, all sums due, and the daily rate of interest.

National Credit Union Administration — Pocket Cents Glossary retrieved 2014-05-16