Why do banks ask for collateral?

1.	Why do banks ask for collateral?
Answer» ong>Answer: Banks ask for collateral because if the person who borrow the money is not able to PAY them back then they will get their money back by selling the THINGS which are GIVEN in collateral. The collateral includes house papers,bank accounts,land owned, etc. hope it helps you. plz mark me as brainliest.

Answer»

ong>Answer:

Banks ask for collateral because if the person who borrow the money is not able to PAY them back then they will get their money back by selling the THINGS which are GIVEN in collateral.

The collateral includes house papers,bank accounts,land owned, etc.

hope it helps you.

plz mark me as brainliest.

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Why do banks ask for collateral?​

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Why do banks ask for collateral?