What is collateral? Explain.

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Posted by Shresth Gupta 5 years ago
- 4 answers
Shivanshu Mishra 5 years ago
King?Adithya H. M.. 5 years ago
Yogita Ingle 5 years 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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Harsh Janghu 5 years ago
1Thank You