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- Dictionarycollateral/kəˈlat(ə)rəl/
noun
- 1. something pledged as security for repayment of a loan, to be forfeited in the event of a default: "she put her house up as collateral for the bank loan"
- 2. a person having the same ancestor as another but through a different line.
adjective
- 1. additional but subordinate; secondary: "the collateral meanings of a word"
- 2. descended from the same stock but by a different line: "a collateral descendant of Robert Burns"
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COLLATERAL definition: 1. valuable property owned by someone who wants to borrow money, that they agree will become the…. Learn more.
As a noun, collateral means something provided to a lender as a guarantee of repayment. So if you take out a loan or mortgage to buy a car or house, the loan agreement usually states that the car or house is collateral that goes to the lender if the sum isn't paid.
Collateral definition: property or other assets pledged by a borrower as security for the repayment of a loan. See examples of COLLATERAL used in a sentence.
Define collateral. collateral synonyms, collateral pronunciation, collateral translation, English dictionary definition of collateral. adj. 1. Situated or running side by side; parallel. 2. Coinciding in tendency or effect; concomitant or accompanying. 3. Serving to support or corroborate:...
Feb 23, 2024 · Collateral is an item of value pledged to secure a loan. Collateral reduces the risk for lenders. If a borrower defaults on the loan, the lender can seize the collateral and sell...
Collateral is money or property which is used as a guarantee that someone will repay a loan. [formal] Many people use personal assets as collateral for small business loans. Most people here cannot borrow from banks because they lack collateral. Synonyms: security, guarantee, deposit, assurance More Synonyms of collateral.
It's what you promise to give someone if you don't repay a loan, like the car you put up as collateral when you take a loan out from the bank. As an adjective, collateral can refer to something indirect or off to the side, like collateral damage.
COLLATERAL definition: things that you agree to give someone if you are not able to pay back money you have borrowed from…. Learn more.
collateral meaning, definition, what is collateral: property or other goods that you promise...: Learn more.
Collateral is money or property which is used as a guarantee that someone will repay a loan. Pronunciations of 'collateral' American English: kəlætərəl British English: kəlætərəl. Synonyms of 'collateral' • security, guarantee, deposit [...] • related [...] • secondary, supporting, subordinate [...] More. Examples of 'collateral' in a sentence.
