Personal Loan Contract
Updated 17 October 2025
This Personal Loan Contract outlines the terms and conditions for a loan agreement between a Borrower and a Lender. It specifies the loan amount, the date it will be furnished, and details regarding the repayment plan, including the start and final repayment dates. The contract also addresses consequences for failure to repay the loan.
Personal Loan Contract
This contract (“Contract”) is an agreement between [name of borrower], henceforth known as “Borrower,” and [name of lender], henceforth known as “Lender.”
Borrower wishes to borrow [amount in dollars], known as “Loan,” from Lender. Loan will be furnished to Borrower on [date].
Conditions for this Loan are as follows:
Borrower will begin repayment of Loan on [date repayment will begin].
The repayment plan [details of the repayment plan, including any installments, interest, and how payments will be made to lender].
The final date for repayment will be [date].
Failure to repay the Loan within [number of days] of [date] will result in the matter [being turned over to collection, addressed in court, etc.]
Borrower and Lender agree to the conditions above, and sign to that effect in the presence of a notary public on the [date] day of [month], [year].
___________________________ ___________________________
[borrower name] [lender name]
___________________________ ___________________________
[borrower signature] [lender signature]
[notary signature and seal]
About this template
What is this template?
Personal Loan Contract is a free, ready-to-use Banking and finance template you can open, customize, and download on GitLaw. It gives you a professionally structured starting point, so you never have to draft from a blank page. The wording is plain and modern, organized into clear sections that are easy to read, edit, and adapt to your own situation before you share or sign it.
When should you use it?
Reach for this Banking and finance template whenever you need a reliable agreement quickly and want to be sure the essentials are covered. It suits individuals, freelancers, startups, and established businesses alike. Instead of paying for a document drafted from scratch, you can start here, tailor the details to your arrangement, and have a polished draft ready in minutes. Always review the final wording against the laws that apply where you live or do business.
What's typically included?
A well-drafted Banking and finance usually sets out the parties involved, the scope of the agreement, and each side's rights and responsibilities. Expect sections covering key terms and definitions, how long the agreement lasts, how it can be ended, and what happens if something goes wrong. This template brings those building blocks together in a sensible order, so you can focus on the specifics rather than worrying about what to include. Open it to read the full document, then sign up to edit, negotiate, and e-sign it directly in GitLaw.