Loan agreement is a mutual agreement signed by a loan provider and borrower to have a proof of loan transaction that take place. Basically, it’s a responsibility of a loan provider to prepare an agreement to state terms & conditions of the transaction. All the details such as name of both the parties, their contact details, amount of loan, interest percentage, return date etc are clearly mentioned on agreement. A loan provider has all the rights to take a legal action against borrower if any breech of agreement take place from his/ her side. To ensure the return of money along with interest or to omit all the possible misunderstandings or confusion on future, it is recommended to sign a loan agreement first before handover any money. Below you can find some useful different types of loan agreement templates that can used, a link to download a template is shared right below the template image.
Elements of Loan Agreement Templates
An agreement between both the parties i.e provider & borrower is necessary to take a legal action if any problem arise from any end. Basically, a loan agreement is defined as a written paper signed by a loan provider & borrower before the transaction of loan. An agreement clearly indicated that a borrower has to pay a specified amount of money within a given time frame along with particular percentage of interest. If a borrower fails to return money then there will be a legal against him as per law. If a loan provider breech the agreement then also borrower has rights to take legal actions. So it is crucial for both lender & borrower to sign a official written document stating all the terms & conditions of the loan transaction.
As a money lender you must sign an agreement first and then transact the money. From below you can find different types of Loan agreement templates, choose the one as per your requirement only. These templates can be customized in any way so rather than creating a loan agreement templates from scratch using MS word or excel it is recommended ti use these ready to use templates & make any changes as per your work requirement. The sections are properly available to enter the basic details of the loan transaction such as name, contact details, loan money, interest, return date and other important details.
Download Loan Agreement Templates
A link to download a template is available below each template image. Click on the link to save a template in the storage of your computer.
Personal Loan Agreement Template
Free Loan Agreement Template
Standard Loan Agreement Template PDF
Loan Agreement Template Format
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