[The Herald] Collateral is something of value - an asset or property - that you pledge when getting a loan. If you don't repay the loan as agreed, the lender can take your collateral and sell it. You can use a variety of assets as collateral.A secured loan is a loan that has collateral attached to it. This type of loan generally has a lower interest rate because the bank is taking a lower risk because it can collect the collateral if you default on payments. ......
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