What are the credentials?

A credential is an attestation of qualification, competence, or authority issued to an individual by a third party with relevant or de facto authority or assumed competence to do so. It is the document which is given to an individual for representing his individuality. It can be proof of academic certificate, security clearance, identification documents, keys, power of attorney and so on.

It can be used as collateral for acquiring a loan from any institution or banks. For education loan for studying higher studies, the academic certificate is submitted as collateral for acquiring the loan. Collateral is an asset that borrower owns. The collateral can be anything that has monetary value in it. The bank demands the collateral for the guarantee against their repayment for the credit. Collateral can be land, building, gold, vehicle…etc.