Collateral

Published 5 Aug 2020

Also known as security, this is an asset such as a car or a home offered as a guarantee of payment by the borrower. It can be taken into possession by a lender if a borrower defaults on their loan repayments.

As seen on

Media - The Sydney Morning Herald
Media - Yahoo Finance
Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business