Question

rohan goes to the bank to take a loan. bank asks him for the security.what is this security known as?

Answer 1

collateral is another name of security provided against credit.

Answer 2

The security is know as the collateral .
Collateral is a type of document u have to give the bank as security. If u are not able to play your loan , bank can take away your collateral.
Collateral can be in the form like , house property , your farm or industrys or your land etc


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