why do you thinks banks need to collateral ?
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As a safety against lone. A person who take lone give her anything as a collateral so that if he don't repay the loan bank will take that thing instead of it's loan.
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They're taking a risk so they want you to risk something too. Large loans and borrowers without a solid credit history are most likely to need collateral. Lenders define collateral requirements; if you can't meet them you may have to pay higher rates or find another lender.
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