Why put a personal loan in writing?
Especially among friends and family, a short agreement creates clarity: how much was lent, when is it due, is there interest? That protects the relationship – and both sides in case of a dispute.
Can I charge interest on a private loan?
Yes, private loans may bear interest as long as the rate is reasonable. Many personal loans are deliberately interest-free – the template has a dedicated checkbox for that.
What about repayment in installments?
Simply enter the monthly installment and the date of the first one. Alternatively, agree on a fixed date for repaying the full amount.
Is the digitally signed agreement valid?
A personal loan agreement generally has no mandatory form and can be signed electronically. Tamgara creates a simple electronic signature under eIDAS; both parties can sign via link if you like.
Is a private loan agreement valid without a notary?
Yes, in most countries a loan between private individuals needs no notary. The written agreement matters as evidence: without it, it is hard to prove the money was a loan rather than a gift.
What can I do if the loan is never repaid?
Send a written demand with a deadline first; after that, court collection procedures or a claim are the next step. The signed agreement plus proof of the payout are the foundation. Mind the limitation period for debts in your country.