Most disputes we hear about between friends or relatives who lent each other money come down to one thing: nothing was written down, so there is nothing to point to later. A loan agreement fixes that at the time the money changes hands, when both sides are still on good terms.
Who this is for
Personal loans between individuals — friends, relatives, or a small private loan outside a bank or NBFC. It sets out the principal amount, interest (if any), repayment schedule, and what happens on default, in a document both sides sign and keep.
Loan agreement vs promissory note
A promissory note is a short, simple promise to repay a fixed sum — quick, but with fewer details. A loan agreement is fuller: it covers interest, instalments, late-payment terms and what security (if any) backs the loan. For anything beyond a small, short-term amount, a proper agreement gives you more to rely on if things go wrong.
Stamp duty
A loan agreement is chargeable to stamp duty under the Indian Stamp Act, calculated from the loan amount. We confirm the exact figure for your amount before drafting — it scales with the sum being lent, unlike a flat-fee document.
What we need from you
Aadhaar of both the lender and borrower, the loan amount, interest terms if any, and the agreed repayment schedule. If there is a guarantor, bring their details too.
Nearest areas we cover
These are the areas closest to our counter. We serve all of south Bengaluru — see every area we cover.