Simple Personal Loan Agreement Sample

This Loan Agreement ("Agreement") is made and entered into on [Date] by and between:

Lender: [Lender's Full Name]
Address: [Lender's Address]

Borrower: [Borrower's Full Name]
Address: [Borrower's Address]

1. Loan Amount
The Lender agrees to loan the Borrower the sum of [Loan Amount] ("Loan Amount"). The Loan Amount will be provided to the Borrower on [Disbursement Date].

2. Interest Rate
The Loan Amount shall accrue interest at an annual rate of [Interest Rate]% starting from the disbursement date.

3. Repayment Terms
The Borrower agrees to repay the Loan Amount along with accrued interest in [Number of Installments] equal installments of [Installment Amount] each. Payments will be due on the [Day] of each month, beginning on [First Payment Date] and ending on [Final Payment Date].

4. Prepayment
The Borrower may prepay the Loan Amount in whole or in part at any time without penalty. Any prepayment will be applied to the outstanding principal balance.

5. Late Fees
If any payment is not received within [Number of Days] days of its due date, a late fee of [Late Fee Amount] will be charged.

6. Default
In the event of default, which includes failure to make a payment within [Number of Days] days of its due date, the Lender may demand immediate repayment of the remaining principal balance and accrued interest.

7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [State/Country].

8. Amendments
Any amendments to this Agreement must be made in writing and signed by both parties.

9. Signatures
By signing below, both parties agree to the terms and conditions set forth in this Agreement.

Lender's Signature: _______________________
Date: ___________________

Borrower's Signature: _____________________
Date: ___________________

Witness: ______________________________
Date: ___________________

Notary Public: _________________________
Date: ___________________

This Agreement constitutes the entire agreement between the parties and supersedes all prior discussions, agreements, or understandings of any kind.