Legal Forms
Personal Loan Agreement
1. Parties
This Personal Loan Agreement is entered into on , 20, between ("Lender") and ("Borrower").
2. Loan Details
Loan Amount ($)
Interest Rate (%)
Term (months)
Monthly Payment ($)
3. Repayment Schedule
Borrower agrees to repay the loan in equal monthly installments beginning on , 20, with the final payment due on , 20.
4. Interest
Simple interest calculated on the unpaid principal balance
No interest — this is a zero-interest loan
5. Acknowledgment
Borrower has received the full loan amount stated above
Both parties agree this is a binding loan, not a gift
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