Scribd
Upload
70 views2 pages

Loan Agreement: Between

This loan agreement is between [LENDER NAME] and [BORROWER NAME] for a principal loan amount of [PRINCIPAL AMOUNT]. The borrower promises to repay the loan within [NUMBER] months, with interest at [INTEREST RATE]% per annum, through [NUMBER] equal monthly installments of [INSTALLMENT AMOUNT] each. The agreement outlines terms for late charges, prepayment, security for the loan through a mortgage, events of default and acceleration of the full balance, dispute resolution, and amendment of the agreement.

Uploaded by

Trigunait Kumar Pawan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
70 views2 pages

Loan Agreement: Between

This loan agreement is between [LENDER NAME] and [BORROWER NAME] for a principal loan amount of [PRINCIPAL AMOUNT]. The borrower promises to repay the loan within [NUMBER] months, with interest at [INTEREST RATE]% per annum, through [NUMBER] equal monthly installments of [INSTALLMENT AMOUNT] each. The agreement outlines terms for late charges, prepayment, security for the loan through a mortgage, events of default and acceleration of the full balance, dispute resolution, and amendment of the agreement.

Uploaded by

Trigunait Kumar Pawan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

LOAN AGREEMENT

This Loan Agreement ("Agrceinent") is executed and effective from [DATE],

BETWEEN

[NAME] (the "Lender"), s/o [NAME], r/o

AND

[NAME] (the "Borrower"), a corporation incorporated under with its registered office at
[ADDRESS]

The Borrowcr, for the value of Rs. [PRINCIPLE AMOUNT] received on the [DATE], promised to repay
the Lender in accordance to the below mentioned terms:

1. PROMISE TO PAY
The Borrower promises to repay Lender the sum of [AMOUNT], along with interest and other
charges stated below, with in [NUMBER] months from today,

2. BREAKDOWN OF PRINCIPAL LOAN AMOUNT


Amount of Loan:
Other (Describe)
Amount financed:
Finance charge:
Total of payments:

3. INTEREST
For the purpose of repayment, the interest rate on the principle amount of loan under this Agreement
shall be per annum.

4. REPAYMENT
The Borrower shall repay the lender in [NUMBER] equal uninterrupted monthly installments of Rs.
[AMOUNT] each within first 5 days of each calendar month.

5. LATE CHARGES
If any installment is not paid within the specified time, then shall attract a levy of a late charge of
[percentage] of the payment, which does not exceed [AMOUNT] for a single installment.

6. PREPAYMENT
The Borrower has the right to make a prepayment of the whole outstanding amount at any time. In
such case, the lender shall refund the unearned finance charge according to the commonly used
formulas.

7. SECURITY
So as to protect the Lender, the Borrower shall provide Security Interest or Mortgage which shall be
the property of following description:

[DESCRIPTION OF PROPERTY]

8. DEFAULT
The borrower shall be at default, if for any reason he fails to make the payment on time. The Lender
will then be entitled to demand an immediate payment of the entire unpaid balance that remains of
this loan, without giving a further notice.
The Borrower for further delay shall be charged an interest of [%] per year on the unpaid balance.
The lender may approach the appropriate judicial authority in [CITY/ JURISDICTION] in case any
dispute regarding repayment is not resolved by the terms mentioned.

9. AMENDMENT
The Loan Agreement may be amended with consent of both parties notified in a written fonn and
signed by the authorized individuals.

10. GOVERNING LAW


This Loan shall be governed by and construed in accordance with the laws of

LENDER BORROWER

Authorized Signature Authorized Signature

Legal Name and Title Legal Name and Title

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy