Question

what do you mean by colletral ?❓​

Answer 1

Answer:

1:Collateral is a type of a security/guarantee taken by the banks from its customers. 2:Usually collateral are taken by the banks for lending money to its customers. 3:Collateral can be in the form of fixed deposit documents, property, documents, etc.

Answer 2

Answer:

Collateral is an asset pledged by a borrower to a lender, usually in return for a loan. The lender has the right to seize the collateral if the borrower defaults on the obligation.

Explanation:

hope it helps you!!