Personal Loan Contract Template

By | December 10, 2014

A personal loan contract is a kind of a formal contract which is formed between a loan borrower and a lender where the latter loans a certain sum of money to the former for a certain period of time. A personal loan contract template is a ready to use version of a personal loan contract which is left with spaces and instructions that can help anyone frame an actual loan contract.

Such templates are widely used by financial institutes who need to time and again lend loans and do not have the time to frame a contract every time. The template is an easy, time saving and convenient way to get a loan contract made. A sample of a personal loan contract template is provided below and can be used for reference by anyone.

Sample Personal Loan Contract Template:

This is a personal loan contractwhich has been made effective as on ________________ [give the effective date of the contract] and shall remain into effect for __________________ [give the total length for which the contract shall remain effective]

This contract has been formed by and between the parties- __________________ [give the name of the BORROWWER] herein referred to as the BORROWER and _________________ [give the name of the LENDER], herein referred to as the LENDER.

Their details are given as follows:

BORROWER DETAILS

Name: _____________________ [Give the full name of the borrower]

Residential address: ____________________ [give the full residential address of the Borrower]

Contact number: ____________________ [give the contact number of the borrower

Age: ________________ [give the age of the borrower]

Account number: ______________ [give the account number of the borrower]

LENDER DETAILS

Name of the bank: _____________________ [give the full name of the bank here]

Bank representative name: __________________ [give the name of the bank representative]

Official address of the bank: ____________________ [give the official address of the bank]

Contact number: _____________________ [give the contact number of the bank

Details of Personal Loan

_________________________________________

_________________________________________

[Mention the various details of the loan such as the amount, the time period for which it is valid, the scheme, the repayment amount etc.]

Terms and Conditions of the contract:

  • ____________________________________________[give the basic terms and clauses of the contract in this space]
  • ____________________________________________[mention the things that the loan can be used for]
  • ___________________________________________[mention the roles as well as the responsibilities of each of the parties in the contract]
  • ___________________________________________[mention all the other terms and conditions]

Signatures of the parties:

______________________________ [signature of the BORROWER]

______________________________ [Signature of the LENDER]