CBSE Class 10 Answered
What is collateral
Asked by shivambhadour2003 | 12 Jan, 2019, 09:06: PM
Expert Answer
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.
Answered by Tharageswari S | 14 Jan, 2019, 09:38: AM
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