Loan Agreement

This loan agreement is made and will be effective on [DD/MM/YYYY] between [BORROWER
NAME], hereinafter called the borrower and [LENDER NAME], hereinafter called the lender.

WHEREAS the Borrower is in need of funds and hence has approached the Lender to grant him
an interest-free loan of [AMOUNT] for a period of [00] months.

AND WHEREAS the Lender has agreed to rant a loan to the Borrower, free of interest, as the
Lender and the Borrower have known each other since several years.

The parties agree as follows:

1. Loan amount: The Lender agrees to grant an interest-free loan equivalent of [000] to
the Borrower and the Borrower promises to reply this principal amount to the Lender.
2. Promise to pay: The said loan is required by the Borrower for a period of [00] months.
(It will be partially deducted to the Borrower’s salary)
3. Liability: Although this agreement may be signed below by more than one person,
Borrower understands that we are each as individuals responsible for paying back the
full amount.
4. Repayment of Loan: The Borrower hereby agrees and undertakes to return the loan of
[000], in instalments, within the aforesaid period of [00] months and gives him personal
guarantee for the same.

AGREEMENT: Borrower and Lender both agree to the terms as described above.

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NAME AND SIGNATURE OF BORROWER

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NAME AND SIGNATURE OF LENDER