Personal Loan Agreement Document

A personal loan agreement document is one which highlights the statements, issued by a finance agency, on the basis of a loan to be dispatched. It is an extremely important deed as it is a hard documentary proof of the agreements and the preconditions of a loan transaction. Thus it must be written down with the help of financial experts.

You can Download the Free Personal Loan Agreement Document customize it according to your needs and Print. Personal Loan Agreement Document is either in MS Word, Excel or in PDF.

Sample Personal Loan Agreement Document

Personal Loan Agreement Document

Download Free Personal Loan Agreement Document

This loan agreement is formulated between the lender, Gold Loan Financial Agency and borrower, Mr. Amen Tiffany, who hereby agree to follow the loan governing laws of the state and abide by the statements of the organization given in the following-space.

Loan amount: The bank has issued a loan of $4, 50, 000 to the borrower on 6th May, 2011.

Purpose of loan borrowed: The loan has been issued for educational purpose whereby the lender will use the money in pursuit of higher education in another country.

Monthly payments: The borrower will have to pay 5% interest on the loaned amount along with the principal amount every month starting from 5th June, 2011 up-to 6th June, 2012, i.e. for a total number of 12 instalments. Therefore,

Interest charge = 5/100 x 4, 50, 000 = $2, 2,500

Principal amount = 4, 50, 000/12 = $3, 7,500

Total instalment amount = $3, 7,500

Mortgage: The property mortgaged as security against the loan is a farmhouse owned by the borrower at 5, Wood Boulevard, Brenda. The current valuation of the property is estimated at $6, 00, 000 excluding furniture and accessories of the house.

Signatures:

Denny Tillman

Amen Tiffany


Posted in Agreement Documents