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Loan Agreement
Money lending contract
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📄 BASICS
💼 LENDER
👤 BORROWER
💰 LOAN
👁️ Live PreviewA4 Size
━━━ ON STAMP PAPER OF ₹500 ━━━
LOAN AGREEMENT
This Loan Agreement is executed at Mumbai on 4/5/2026 BETWEEN:
LENDER:
Mr. Rajesh Kumar Sharma
S/o Mr. Suresh Kumar Sharma
45, Green Valley Society, Powai, Mumbai - 400076
Aadhaar: XXXX XXXX 9876
AND
BORROWER:
Mr. Aditya Sharma
S/o Mr. Vikash Sharma
123, Hill View, Andheri, Mumbai - 400069
Aadhaar: XXXX XXXX 1234
WHEREAS the Borrower has approached the Lender for a personal loan and the Lender has agreed to lend on the terms below.
TERMS AND CONDITIONS:
- Loan Amount: ₹5,00,000 (Rupees Five Lakhs Only) advanced by Lender to Borrower.
- Purpose: Personal Use - Home Renovation.
- Interest Rate: 10% per annum on reducing balance.
- Tenure: 24 months from the date of disbursement.
- EMI: ₹23,072 payable on 5th of every month, starting one month from disbursement date.
- Mode of Payment: Through bank transfer/cheque/UPI to the Lender's designated account.
- Collateral: No collateral.
- Default: On default of 3 consecutive EMIs, lender may demand full payment with 18% interest on overdue amount.
- Prepayment: Borrower may prepay the loan partially or fully without any penalty.
- Jurisdiction: Disputes shall be subject to courts at Mumbai.
IN WITNESS WHEREOF the parties have signed this agreement on the date and place mentioned above.
LENDER
Mr. Rajesh Kumar Sharma
BORROWER
Mr. Aditya Sharma
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