Personal loan re-payment agreement
R.Ramesh
(Querist) 07 November 2016
This query is : Resolved
Dear sir, we have taken personal of Rs.3lakhs in cash as per the affidavit on Rs.50 bond paper, from our relative in march 2016 and now we are ready to pay cash Rs.2,50,000/- towards repayment.So, I want to pay the amount by wirting details on bond paper with revenue stamp and how much amount of revenue stamp should be affixed.And pertaining to this details I have drafted a personal repayment Agrrement, whether this draft is ok, if not please kindly suggest waiting for your reply. Thanking you.
Personal Re-Payment Agreement
Date :
This personal loan Re-payment Agreement made towards the Re-Payment of personal loan.
Details are given below :
With reference to the personal loan taken from Mr.X s/o Y residing at HNo…. By Mr.A s/o B residing at HNo…. On the occasion of daughter’s marriage.
As per the affidavit date on 16th March 2016 for the Rs.3,50,000/- ( Rupees Three Lakhs Fifty Thousand only ). Now with reference to the above said amount we had paid the part payment of of Rs.2,50,000/- ( Rupees Two Lakhs Fifty Thousand only ) in cash.
Kindly Acknowledge this agreement as a Receipt of Loan Re-payment.
Amount paid by: A Amount Received by
X
Sinature: Signature on stamp : Revenue Stamp
Witness person’s Name with Signature:
1.
2.
3.
4.
5.
Guest
(Expert) 07 November 2016
Instead of Naming as Repayment agreement Make the Receipt for Full and Final Settlement and make the Payment by Banker's Demand Draft or Cheque.Before Payment Collect back All the agreements/documents cheques if any given to the Lender.
adv.bharat @ PUNE
(Expert) 07 November 2016
Yes Title line is Receipt of amount.
Also add one clause that in future he or any legal representative will not make any claim against him.
Take it on 100 Rs. stamp paper.
Will u give thanks for this suggesation?
Kumar Doab
(Expert) 07 November 2016
Subsequent to good advise in the thread, visit your counsel with loan documents and your counsel shall prepare it for you.
Rajendra K Goyal
(Expert) 08 November 2016
Pay the amount through cheque.
Get receipt of amount paid through cheque.
May keep the passbook entry / Bank account statement as token of payment and clearance of cheque.
adv.bharat @ PUNE
(Expert) 08 November 2016
U can pay by DD.
Keep the receipt of the same from the bank.
Kumar Doab
(Expert) 09 November 2016
You can benefit from the advise of experts.
