what do you mean by Collateral in the case of loan
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Heyyaa mate!!
Collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan. If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses.
Hope it helps ❤️❤️
fyf3334:
You have used a good vocab and the answer is an appropriate and a suitable one
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