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What is collateral?

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Class 10th Important Question

CBSE 2022-2023

NCERT Social Science

Class 10th Economics CH: 3

CH:3 Social Science, Economics

Important Question for Board class 10th SST CH:3

Important Very Short Answer

Important Question Class 10th SSt Money and Credit

 

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1 Answer

  1. Collateral is  an  asset that the borrower owns (such as land, building, vehicle, live stocks, deposit with banks) and uses this as an guarantee to a lender until the loan is repaid.

     

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