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What is collateral? Explain.

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What is collateral? Explain.

    • Posted by Shresth Gupta 5 years, 4 months ago

    CBSE > Class 10 > Social Science
    • 4 answers

    Harsh Janghu 5 years, 4 months ago

    An asset that is owned by borrowers and uses as a guarantee to a lender till loan time loan is repaid

    1Thank You

    Shivanshu Mishra 5 years, 4 months ago

    Collateral is an asset that the borrower owns (such as lands, buildings ,vehicles ,livestock and deposits with bank ) and uses this as a guarantee to a lender until the loan is repaid.

    0Thank You

    King?Adithya H. M.. 5 years, 4 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.

    0Thank You

    Yogita Ingle 5 years, 4 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.

    0Thank You

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