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Borrowing money is a civil transaction that occurs frequently in daily life. People often use loan documents to record this agreement. Mytour has compiled a variety of loan document templates for your reference.
Loan document templates, legally compliant loan contracts
1. What is a Loan Document? Can Handwritten Loan Documents Be Used?
2. Compilation of Legal Loan Document Templates.
3. Guide on How to Write Loan Documents Legally.
1. What is a Loan Document? Can Handwritten Loan Documents Be Used?
- A loan document is a written record of loan transactions, including agreements related to lending.
- Nowadays, loan documents are often handwritten relatively simply by individuals. Additionally, some may be typed and signed afterwards.
- Many people wonder whether handwritten loan document templates are legal or not?
+ According to Article 119 of the 2015 Civil Code, lending can be done orally, in writing, or through specific conduct. Therefore, you can write handwritten loan documents.
+ However, lending, and writing loan documents must comply with the regulations in Articles 117 and 463 of the Civil Code, which state:
(1) Entity establishing the loan: possessing full civil capacity;
(2) Ensuring voluntariness;
(3) Agreement content and purpose not violating laws, not contrary to social ethics;
(4) Lender provides money to borrower; upon repayment, borrower must return the borrowed amount and only pay interest if agreed upon or as stipulated by law.
2. Compilation of Legal Loan Document Templates
* Personal Loan Document Template 2023 No. 1
The content of the loan document template below contains personal information of the lender and borrower, loan amount, loan term, loan method, interest rate, and dispute resolution method,...
- Download this template HERE
* Popular Handwritten Loan Document Template No. 2
A legally compliant handwritten loan document template, widely used to establish lending relationships in practice. Readers can download this loan document template and add their personal information to suit their lending transactions.
- Download this template HERE
* Simple Personal Loan Document Template No. 3
The handwritten loan debt document (or simple loan document) below is often established for parties who have previously known each other. After agreeing on the loan amount, interest rate, and repayment period, the parties will proceed to write the loan debt document to establish trust and legal rights for their loan.
- Download this template HERE
3. Guide on How to Write Loan Documents Legally
Currently, the law does not require the use of a specific loan document template; parties involved in lending money can use different templates. However, in essence, a loan document must ensure the following contents:
- Information of the lender and the borrower:
+ Specify specific full name, date of birth, permanent address, ID card number, contact phone number,... if an individual.
+ For organizations: Clearly state the information of the legal entity including business registration number, issuance date, head office address, information of the legal representative according to legal regulations.
- Time, place of lending money/making the loan document: Clearly state the date, time, day, month, year, and location.
- Loan information: Amount: specify both in words and numbers. Interest rate: Specify whether interest is applicable or not. If no interest, it can be stated as 'Party A agrees to lend the amount mentioned above to Party B without interest.' In case of agreed interest, it must be clearly stated how much interest, calculated according to which bank's interest rate, etc. Parties may agree on interest rates, but ensure it does not exceed 20% per annum (i.e., not more than 1.666% per month). Loan term: Specify how long the loan is for, in months or years? It can be agreed to extend or shorten this term. Agreements on repayment methods such as monthly installment, quarterly or interest calculation, etc.: Clearly state whether repayments are in cash or assets, transfer or direct payment, etc. The more specific the agreement, the less chance of disputes in the future.
- Purpose of the loan.
- Commitments of the parties regarding rights, obligations. Note on the repayment obligation of the borrower as prescribed in Article 466 of the Civil Code to avoid unfavorable situations.
- Purpose of the loan.
- Additionally, a loan agreement may include additional terms depending on the agreement of the parties involved.
Basic content of a loan agreement and correct writing, legally compliant standards
* Some notes
- The agreement can be handwritten or typed as desired but must include the basic contents as outlined.
- Clear, understandable language; avoid the use of local terms.
- It is advisable to create at least 02 identical loan agreements, each party retaining 01 copy for execution.
- A third party may be invited to witness this transaction for added security.
Regarding borrowing money between households, companies, and credit institutions, loan contracts such as mortgage and unsecured loans are also formed. To learn about the latest procedures and processes for borrowing money, readers can refer to the guide on how to borrow money from banks with a business license for more information.
Above are sample handwritten loan agreements, loan forms simple, commonly used for individuals to refer to and use. Information on writing and notes when using loan forms has been specifically shared by us, readers need to understand and apply correctly to minimize legal risks.
Furthermore, when borrowing money in monthly installments with an ID card, readers should also pay attention to interest rate terms as well as borrowing limits and interest calculation dates to avoid risks.
- See also: Considerations when borrowing money in monthly installments with just an ID card
