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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 is money or property which is used as a guarantee that someone will repay a loan.
Feb 23, 2024 · Collateral is an asset that a lender accepts as security for extending a loan. If the borrower defaults, then the lender may seize the collateral.
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:...
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.
noun. Finance. property or other assets pledged by a borrower as security for the repayment of a loan: He gave the bank stocks and bonds as collateral for the money he borrowed. Anatomy. a subordinate or accessory part. a side branch, as of a blood vessel or nerve. collateral circulation.
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. noun. /kəˈlætərəl/. /kəˈlætərəl/. [uncountable] (finance) property or something valuable that you promise to give to somebody if you cannot pay back money that you borrow. We had put our house up as collateral for our bank loan. Topics Money c2. Word Origin.
