# How to Add Collateral to a Loan Account

One or more collateral items can be added to a loan account application. Collateral can be added to loan accounts in the following ways: 

* Collateral items can be selected and attached to the loan account application when the loan account application is being created.
* Collateral items can be selected and attached to the loan account application by modifying a loan account application in Pending Approval status.
* Collateral items can be selected and attached when viewing the loan account application by clicking Add Collateral from the More menu on the action bar (the Add Collateral option is available when the status of the loan account application is Pending Approval).

Adding a collateral item to a loan account application does not affect the loan account application's status.

{% hint style="success" %}
Only the collateral type choices available in the selection list are acceptable to your financial institution.
{% endhint %}

### To add or modify collateral items to a loan account application when creating or editing a loan account application

When creating or editing a loan account application, navigate to and complete the **collateral** fields. Click **Submit** when done. [See Loan Account Fields Collateral.](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/loan-accounts/how-to-create-a-loan-account-application/loan-account-fields)

### To add collateral items to a loan account application when viewing a loan account application

When viewing a loan account, click **More** and select **Add collateral** on the action bar.

1. Select **Collateral** type from the list.
2. Type the amount in the **Amount** field.\
   The amount is the value of the collateral item expressed in the same currency as the loan account's currency. 
3. Type a description for the collateral item.
4. Click **Submit**.

### Related articles

* Page:[Share Accounts](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/share-accounts)
* Page:[How to Prepay a Loan Account](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/loan-accounts/how-to-prepay-a-loan-account)
* Page:[Using collection sheet or other payment types for making payments](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/loan-accounts/using-collection-sheet-or-other-payment-types-for-making-payments)
* Page:[How to Assign a Loan Officer](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/loan-accounts/how-to-assign-a-loan-officer)
* Page:[How to Add a Charge to a Loan Account](https://docs.mifos.org/mifosx/user-manual/for-operational-users-mifos-x-web-app/accounts-and-transactions/deposit-accounts/mifos-x-saving-accounts/how-to-add-a-charge-to-a-saving-account)


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