What is collateral
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Posted by Shagun Vishwakarma 7 years, 4 months ago
- 2 answers
Naveen Sharma 7 years, 4 months ago
Collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan. If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses
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Anuradha Bhatnagar 7 years, 4 months ago
the word collateral means additional. When we obtain a loan from bank then it asks for some security. When primary security is not considered sufficient then assets offered in addition to primary security are called collateral security
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