Question

what are collaterals?give examples

Answer 1

Collateral is when an asset is pledged to secure repayment. It is common in personal and business lending. You may hear friends or family refer tocollateral as a home, a car, or a commercial building or property.


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Answer 2

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

You may hear friends or family refer to collateral as a home, a car, or a commercial building or property.
Hope it is help full