The Simple Loan Agreement Form is designed for use in India when parties wish to document a straightforward lending arrangement. This document type is commonly used for personal loans, small business loans, or other basic lending scenarios where the loan structure is uncomplicated. The agreement complies with Indian contract law and financial regulations, including the Indian Contract Act, 1872, and applicable state-specific money lending laws. It contains all essential provisions required for a valid loan agreement while maintaining simplicity and clarity. This form is particularly useful for smaller-scale lending transactions where a more complex facility agreement would be unnecessary. The Simple Loan Agreement Form typically includes provisions for loan amount, interest calculation, repayment terms, basic representations and warranties, and events of default, while remaining accessible to parties who may not have extensive legal expertise.

1. Parties: Identifies and provides full details of the lender and borrower, including names, addresses, and any registration details if companies are involved

2. Background: Brief context of the loan arrangement and the purpose for which the loan is being granted

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Loan Amount and Purpose: Specifies the principal amount being lent and the approved purpose for which the loan may be used

5. Interest Rate and Calculations: Details the applicable interest rate, calculation method, and payment frequency

6. Repayment Terms: Specifies the repayment schedule, installment amounts, and payment methods

7. Representations and Warranties: Standard declarations by the borrower about their legal capacity and financial condition

8. Events of Default: Lists circumstances that constitute default and their consequences

9. Remedies: Outlines the lender's rights and remedies in case of default

10. Notices: Specifies how formal communications between parties should be made

11. Governing Law and Jurisdiction: Confirms Indian law as governing law and specifies jurisdiction for disputes