Question

what is meant by term collateral

Answer 1

Something pledge as security for repayment of a loan, to be fortified in the even of default

Answer 2

✨✔️✔️ Question : What is meant by term collateral?

✔️✔️Answer :
Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.
eg: Land, Building etc....

✨✔️✔️HOPE IT HELPS YOU....
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