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Loan Agreement

For a personal loan between two people: the amount, any interest, how it will be paid back and what happens if a payment is missed. Both of you sign it in front of the notary.

Lender

In years, for example 34.

Borrower

In years, for example 34.

The Loan

For example, by bank transfer to BPI Savings Account No. 1234-5678-90.

For example, 1% a month on the unpaid balance, or 12% a year. Leave it empty for no interest.

Repayment

For example, 12. Leave it empty if the whole amount is paid at once.

For example, on the 30th of every month, starting 30 November 2026.

For example, 30 October 2027.

For example, at the lender's home, or by deposit to BDO Account No. 0012-3456-78.

Leave it empty for fifteen (15). For example, thirty (30).

For example, 1% a month on the overdue amount. Leave it empty for none.

Where

IDs

What you type is kept on this device only, so you can come back and finish later. Nothing is sent anywhere. Press Clear to erase it, especially on a shared phone or computer.

LOAN AGREEMENT

KNOW ALL PERSONS BY THESE PRESENTS:

This Loan Agreement is made and entered into by and between:

lender's full name, age years old, Filipino, civil status, and residing at lender's address, hereinafter called the LENDER;

– and –

borrower's full name, age years old, Filipino, civil status, and residing at borrower's address, hereinafter called the BORROWER.

WITNESSETH:

  1. The LENDER lends to the BORROWER the sum of amount in words (₱amount), Philippine Currency, which the LENDER has delivered manner of release, and receipt of which in full the BORROWER hereby acknowledges;
  2. The loan shall bear no interest.
  3. The BORROWER shall pay the loan on or before date. Payments shall be made place or account, and the LENDER shall issue a receipt for each payment;
  4. The BORROWER may pay all or part of the loan ahead of time;
  5. If the BORROWER fails to pay any amount when due, and does not pay it within fifteen (15) days after receiving a written demand from the LENDER, the entire unpaid balance shall become due and demandable at once;
  6. Any notice under this agreement shall be sent to the party at the address stated above, unless that party gives written notice of a new address;
  7. Any dispute under this agreement shall first be brought to barangay conciliation where the law requires it, before any case is filed in court.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____ day of ______________ 20___ at city or municipality, Philippines.

lender's full name
Lender
borrower's full name
Borrower

SIGNED IN THE PRESENCE OF:


Witness

Witness

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )
city or municipality ) S.S.

BEFORE ME, a Notary Public for and in city or municipality, this ____ day of ______________ 20___, personally appeared:

NameCompetent Evidence of Identity
lender's full nameID type and number
borrower's full nameID type and number

known to me and to me known to be the same persons who executed the foregoing Loan Agreement, and who acknowledged to me that the same is their free and voluntary act and deed.

This instrument, consisting of ____ pages including this page on which the acknowledgment is written, has been signed by the parties and their instrumental witnesses on each and every page.

WITNESS MY HAND AND SEAL on the date and at the place first above written.

Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 20___.

NOTARY PUBLIC

Before You Print

  • Not legal advice. This is a general form. For your own situation, consult a lawyer, especially if your case is unusual or a lot of money is involved.
  • You will sign it before the notary and confirm you signed it freely (this is called an acknowledgment).
  • Do not sign it yet. You sign in front of the notary, with a valid government ID.
  • Interest is due only if it is agreed in writing (Civil Code, Article 1956). If you leave the interest box empty, the agreement says the loan has no interest. Courts can lower interest they find too high or unfair (unconscionable).
  • A Loan Agreement is subject to documentary stamp tax. See the documentary stamp tax calculator.
  • If land, a vehicle or other property is put up as security for the loan, the mortgage is a separate document. Have a lawyer prepare it.
  • For a simpler one-page promise to pay, see the Promissory Note. See also the guide Loans and Promissory Notes.

What notarizing it usually costs →

For the steps around this document, see the guide Loans and Promissory Notes.

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