Geography, asked by khyati001, 1 year ago

define the term collatral

Answers

Answered by yunuskhanj786

something pledged as security for repayment of a loan, to be forfeited in the event of a default is called collateral.

Answered by devanshyadav0011

Collateral is the asset which the borrower owns (such as land, building, vehicle, livestock, deposits with banks) and uses this as a guarantee to the lender until the loan is repaid.

Hope it helps you :)

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