He applied for a secured loan using his house as collateral.
He applied for a secured loan using his house as collateral.
English
collateral
kəˈlætəɹəl, kəˈlæt(ə)rəl, kəˈlæt̬.ɚ.əl
Meaning: property pledged as security for a loan
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Example sentences
She used her house as collateral for the bank loan.
She used her house as collateral for the bank loan.
Usage Notes
Formal financial term for an asset that a lender can seize if the borrower defaults.
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