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3 votes
What is the security for the repayment of a secured loan called?

2 Answers

2 votes
Collateral that's what its called..............
answered
User Crosser
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8.0k points
2 votes

Answer:

The answer is collateral.

Explanation:

Collateral is the security for the repayment of a secured loan.

Secured loan is a loan where a collateral is kept against the loan. Like for a car loan, the car is kept as a collateral.

This is done because when you default on payment of the loan, the bank can seize your collateral and sell that off to recover its dues.

answered
User Thomas Matthew
by
7.6k points
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