Question

What is a collateral????

Answer 1

COllateral is something which when we take loan we give to the lender as security of the money they have given it to borrower

Answer 2

HI

✨ Collateral ➡️ an asset that that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.

e.g. land, building, vehicle, livestock, deposits with banks...

Hope it proved to be beneficial...