Loan Agreement Template is here. A loan agreement is a written contract between two parties (lender and borrower). A loan agreement may includes all terms and conditions and other details like, amount of loan, interest rate, duration of loan either long term or short term and future payment dates etc. A loan agreement may prepared by an individual, bank or any other loan provider organization for various reasons. A loan agreement sometimes includes a promissory note in which a person makes promise to pay amount in specific time. Generally loan agreements are in written form and signed by both parties. If you are facing problem to write a loan agreement, you should go for internet, where you can get lots of tips and guidelines to write a loan agreement effectively. You can also use loan agreement templates for your ease, provided on internet free of cost. Download free Loan Agreement Template here.
When the person applies for the loan in the bank then the banker before paying the amount presents a document to the customer on which the terms and conditions are written is known as loan agreement. The details in the loan agreement includes the name and account number of customer, the amount in figures and in the words and the signature of banker and the cutomer.The loan agreement is only between the two parties and it should not be disclosed with a third party. The description on the loan agreement defines the process of returning the loan and the percentage of interest charged by the bank. The loan agreement is beneficial for the banker and the customer so that in future there may not be any misconduct from any party. In the loan agreement it has been written by the banker to pay the loan in installments and on the day and time mentioned.
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