Lesson60 seconds
What is Collateral?
An asset pledged so the lender can recover money if you .
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Simple Definition
Collateral is security for a loan - property, deposits, or other assets the lender may claim if you fail to repay.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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