Also called a "security", a collateral is any asset that a borrower pledges to a lender when applying for a secured personal loan. Having a security gives lenders greater assurance that the borrower will work towards paying off their loan. Otherwise, if the borrower defaults on their loan, the lender can repossess the collateral to earn back what they lost.
Finty members get
I don't want rewards
I want rewards
Disclaimer: You need to be logged in to claim Finty Rewards. If you proceed without logging in, you will not be able to claim Finty Rewards at a later time. In order for your rewards to be paid, you must submit your claim within 45 days. Please refer to our T&Cs for more information.
