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Why banks ask for colletral from …

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Why banks ask for colletral from peoples?

    • Posted by Ayush Vishwakarma?? 6 years, 8 months ago

    CBSE > Class 10 > Social Science
    • 2 answers

    G Y 6 years, 8 months ago

    If they will not take collateral than every one would take a huge amount and then never pay loan. Banks own the collateral if loan is not paid

    2Thank You

    Sakshi Rawal 6 years, 8 months ago

    Becoz banks keep the collateral as guarantee until loan is re paid by the people

    1Thank You

    ANSWER
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