Personal Loan IOU (I Owe You)

I. Preamble

This IOU acknowledges that [YOUR NAME], henceforth referred to as the Borrower, residing at [YOUR ADDRESS], and reachable via email at [YOUR EMAIL] or contact number [YOUR NUMBER], owes a sum of money to the Lender identified below. The details provided confirm the Borrower's intent to fully repay the loan according to the terms herein.

II. Lender Information

Lender's full name: [LENDER'S FULL NAME]
Address: [LENDER'S ADDRESS]
Email Address: [LENDER'S EMAIL]
Contact Number: [LENDER'S CONTACT NUMBER]

III. Loan Details

Principal Amount: [LOAN AMOUNT]
Loan Issue Date: [ISSUE DATE]
Expected Repayment Date: [REPAYMENT DATE]
Interest Rate (Annual): [ANNUAL INTEREST RATE]%
Additional Terms: [ANY ADDITIONAL TERMS]

IV. Repayment Terms

The Borrower acknowledges and agrees to adhere to the following repayment terms:

• Total Due (Principal + Interest): The Borrower shall repay the total loan amount, inclusive of both the principal loan amount and any accrued interest, as outlined in this agreement, with the total due amount specified as [TOTAL DUE].

• Payment Method: The Borrower shall make payments using the designated payment method specified as [PAYMENT METHOD]. This may include methods such as bank transfer, cash, certified check, or any other mutually agreed-upon method.

• Repayment Frequency: The Borrower shall adhere to the agreed-upon repayment frequency, as determined and stated in this agreement. The frequency may include weekly, bi-weekly, monthly, or any other agreed-upon schedule, with the frequency specified as [REPAYMENT FREQUENCY].

V. Governing Law

This IOU Agreement shall be governed by and construed in accordance with the laws of [STATE/COUNTRY]. Any disputes arising from this agreement will be resolved under the jurisdiction of [CHOSEN JURISDICTION].

VI. Signatures

By signing below, both parties agree to the terms and conditions outlined in this Personal Loan IOU Agreement.

Lender's Signature: ________________________________
Date: [DATE]

Borrower's Signature: ________________________________
Date: [DATE]

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