Collateral

Posted in Finance, Accounting and Economics Terms, Total Reads: 939
Advertisements

Definition: Collateral

The security which is offered against the taking of a loan is called as collateral.

This security can be a tangible asset like gold, real estate, etc. or it can also be another person who promises to repay the loan in case the primary loan taker defaults.




Looking for Similar Definitions & Concepts, Search Business Concepts

Share this Page on:

Similar Definitions from same Category: