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Definition of collateral.

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Definition of collateral.

Posted by Lucifer?? Morningstar?? 5 years, 6 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years, 6 months ago

Collateral is an asset or form of physical wealth that the borrower owns like house, livestock, vehicle etc. It is against these assets that the banks provide loans to the borrower. The borrower uses assets as a guarantee to a lender until the loan is repaid.

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CBSE > Class 10 > Social Science