Sample Template Example of Promissory Contract / Note Format For Taking Personal Loan From Bank / Individuals/ Friend / FD with Term & Conditionsz in Word / Doc / Pdf Free Download
Download Personal Loan Agreement Format
PROMISSORY NOTE, FIXED TERM, NO INTEREST, PRINCIPAL PAYABLE
IN EQUAL PAYMENTS UNTIL MATURITY, ACCELERATION OF PAYMENT IN THE EVENT OF
DEFAULT IN PAYMENT
PROMISSORY NOTE
[AMOUNT OF LOAN, ex. $20,000.00] Due: [MATURITY DATE OF LOAN, ex.
July 31, 2022]
FOR VALUE RECEIVED, the undersigned, [BORROWER NAME] (the
“Borrower”), hereby acknowledges itself indebted to [LENDER NAME] (the
“Lender”) and promises to pay to or to the order of the Lender at [ADDRESS OF
LENDER] or as otherwise directed in writing by the Lender, the principal sum of
[AMOUNT OF LOAN, ex. $20,000.00] in lawful money of [CURRENCY, ex. Canada or
United States of America] without interest. The entire principal sum shall be
paid in [TOTAL NUMBER OF PAYMENTS, ex. 48] equal consecutive [PAYMENT PERIODS,
ex. Monthly - but could be quarterly, yearly or weekly] payments of principal
only in the amount of [AMOUNT OF PERIODIC PAYMENTS, ex. In this example,
$20,000 divided by 48 payments equals $4,166.67 per month] commencing on
[COMMENCEMENT DATE OF PAYMENTS, ex. August 31, 1998] to and including [MATURITY
DATE OF LOAN, ex. July 31, 2022].
In the event of default in payment of any amount of
principal or interest under this promissory note, the entire remaining
principal sum and all interest accrued shall, at the option of the Lender,
become immediately due and payable without notice or demand.
The Lender may assign all of its right, title and interest
in, to and under this promissory note. All payments required to be made
hereunder shall be made by the Borrower without any right of set-off or
counterclaim.
DATED: [DATE OF DOCUMENT, ex.
July 1, 2016]
………………………………………….. ………………………………………….
Witness Seller Name
Download Personal Loan Agreement Format
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