Collateral is an asset that is pledged by a borrower as security for a loan. If the borrower fails to repay the loan, the lender has the right to sell the collateral to claim the dues. Common examples of collateral include:
The above are called collateral when you borrow a home loan, gold loan, or loan against FD, respectively.
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Your EMI Amount is
₹
13,107
Loan Amount
₹145,000
Min
Max
₹8,000
₹10,00,000
Interest rate
14%
12
30
Select EMI option
12 Months
3
36
Months
Months