Draft of RECEIPT FOR REPAYMENT OF LOAN
COMPANY NAME_____________ Date:_______
__________________________ No.
__________________________ Amount:
Name__________(party)
Amount in words________________________________
Duration form
DATE: Description Amount Payment Balance
Borrower will repay the amount of this note in_____ in equal and continuously in every month in the form of installments of Rs.______ each on the ____ day of every month commencing on the __ day of 20__, and ending on ____ of 20__
LATE CHARGES:
Any payment not remunerated within the ______ days of its due date shall be subject to a belatedly charges of ___ of the payment, not exceeding ___ of such payments of installments.
Failure to Pay
If the borrower makes any default in making the payments on time, then the lender can order for the instant repayment of the balance amount of the loan amount, without giving any further notices to the borrower.
_______________ ________________
Borrowers signature Lenders signature
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