When you`re in need of a personal loan, it`s important to have a clear and concise agreement in place between you and your lender. This agreement should outline the terms and conditions of the loan, including the amount borrowed, the interest rate, and the repayment schedule. By having a well-written personal loan agreement, you can avoid misunderstandings and conflicts down the line.

To help you get started, we`ve put together a sample personal loan agreement template that you can use as a starting point. Remember to customize this template to fit your specific needs and circumstances.

Personal Loan Agreement

This Personal Loan Agreement (the « Agreement ») is made and entered into as of the [insert date] between [insert lender`s name and address] (« Lender »), and [insert borrower`s name and address] (« Borrower »).

Loan Amount

Lender hereby loans to Borrower the sum of [insert loan amount] (the « Loan »), which Borrower agrees to repay in accordance with the terms and conditions of this Agreement.

Interest Rate

The Loan shall accrue interest at a rate of [insert interest rate] per annum, calculated on the outstanding balance of the Loan.

Repayment Schedule

Borrower shall repay the Loan as follows:

[Insert repayment schedule, including due dates and amounts]


Borrower may prepay the Loan, in whole or in part, at any time without penalty.

Late Payment

In the event that Borrower fails to make a payment when due, Borrower shall be charged a late fee of [insert late fee amount] per day until the payment is made.

Security for Loan

[Insert description of any security provided by Borrower]

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [insert state].

Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between the parties.


This Agreement may be amended only by a written instrument executed by both parties.


This Agreement may not be assigned by Borrower without the prior written consent of Lender.

In Witness Whereof, the parties have executed this Agreement as of the date first above written.

Lender: [Insert signature]

Borrower: [Insert signature]

By using our sample personal loan agreement template, you can make sure that your loan agreement covers all the necessary aspects and is clear to both you and your lender. It`s important to have a well-written agreement in place to ensure that there are no surprises down the line and to protect yourself in case of any disputes.