This Simple Interest Loan Agreement template is designed for use in South Africa where parties wish to document a lending arrangement using simple interest calculation methods. The document is particularly suited for business loans, personal loans, and inter-company financing where parties prefer straightforward interest calculations. It incorporates all requirements under the National Credit Act 34 of 2005, Consumer Protection Act, and other relevant South African legislation. The agreement includes comprehensive provisions for loan terms, repayment schedules, default procedures, and security arrangements (if applicable). It can be used by both institutional lenders and private individuals, provided they comply with credit provider registration requirements where applicable under South African law.

1. Parties: Identification and details of the Lender and Borrower, including registration/ID numbers, physical addresses, and contact details

2. Background: Brief context of the loan arrangement and purpose

3. Definitions: Definitions of key terms used throughout the agreement, including 'Interest Rate', 'Loan Amount', 'Repayment Date', etc.

4. Loan Amount and Purpose: Specification of the principal amount being loaned and its intended use

5. Interest Rate: Clear statement of the simple interest rate, calculation method, and compliance with usury laws

6. Repayment Terms: Details of repayment schedule, payment methods, and payment allocation between principal and interest

7. Representations and Warranties: Standard representations by the Borrower regarding legal capacity, financial status, and accuracy of provided information

8. Events of Default: Definition of default events and their consequences

9. Remedies: Lender's rights and remedies in case of default

10. Notices: Process for formal communications between parties

11. General Terms: Standard legal provisions including governing law, jurisdiction, and entire agreement clause