Hello,
E1 balanced is on a 4-wire twisted pair cable with RJ48 pinouts. E1 unbalanced is not twisted pair, but coaxial with BNC connectors. Twisted-pair cable is balanced.
A balanced cable, by contrast, has three conductors in the connector and three wires in the cable: two signals wires plus a separate ground wire. As in the unbalanced cable, the ground wire still surrounds the signal wires and is used as a shield against interference.
The difference is in the hardware. An unbalanced circuit uses a coaxial cable, the core wire carries the signal and the sheet equals ground.
A balanced circuit uses a wire pair that carries a symmetrical signal (sort of + and - if you like)
The impedance differs with the circuit: unbalanced is about 75ohm, balanced 100-120ohm.
Which one to use depends on what you need to connect to. Take care that you order the correct cable for the module, unbalanced features a BNC coax connector, balanced version terminates on RJ45.
Hope this helps
Thanks