Loan Document Template
Simple loan document template to lend or borrow money in Nigeria, Kenya or South Africa - set the amount, interest, repayment and security, and easily download
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A clear loan agreement for Nigeria, Kenya and South Africa — customize and download in minutes
A loan agreement is the contract a lender and a borrower sign to put a loan of money in writing. This template is a standard, plain-English format built for three key African markets - Nigeria, Kenya and South Africa - suitable for personal and business loans between individuals or companies. You pick the governing country and the agreement adapts its currency, courts and stamp-duty wording, while setting out how much is lent, the interest rate, the repayment schedule, what happens if a payment is missed, and how the lender is protected if things go wrong.
Just answer a few simple questions - the lender's and borrower's details, the loan amount, the interest rate, the repayment schedule, the governing country and any security - and your personalized loan agreement is generated instantly, ready to download as PDF or Word.
What this loan agreement includes
- A governing-country selector for Nigeria, Kenya or South Africa, which drives the applicable law, courts and stamp-duty wording
- Clear identification of the Lender and Borrower
- The loan amount (principal), when it is paid out, and the purpose of the loan
- The interest rate and how interest is calculated, with a note that the rate must not exceed any legal maximum in the chosen country
- A repayment schedule: number and amount of instalments, payment frequency, and a final Maturity Date
- A prepayment clause allowing early repayment without penalty
- A late-payment clause with default interest and a grace period
- A security / guarantee clause (or a clear statement that the loan is unsecured)
- A list of events of default and the lender's right to accelerate and enforce
- A costs and stamp-duty clause, a notices clause, and a dispute-resolution and governing-law clause (discussion, then mediation, then the local courts)
- A signature block for both parties and a witness, reflecting common execution practice in these jurisdictions
How to create your loan agreement
1. Open the template and click Generate.
2. Answer the guided questions: the governing country, the parties, the loan amount, the interest rate, the repayment schedule, and any security.
3. Generate the document: your details are merged into the agreement automatically.
4. Review and download as PDF or Word, then sign before a witness and complete any stamping or registration required in your country.
Who is this loan agreement for?
Individuals lending to family, friends or business partners, and small businesses lending or borrowing in Nigeria, Kenya or South Africa, who want a clear written record instead of an informal promise. Because you choose the governing country, the same standard format adapts to each market's law, currency and courts.
Disclaimer: This template is provided for convenience and general information only and is not legal advice. Interest-rate caps, money-lending licensing, stamp-duty and consumer-credit rules differ across Nigeria, Kenya and South Africa - for example South Africa's National Credit Act, Kenya's in-duplum and lending rules, and Nigeria's stamp-duty and money-lenders laws. For regulated lending, high-value loans, or loans to consumers, have the final agreement reviewed by a qualified lawyer in the relevant country before signing.
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What's included
- Professional formatting and layout
- Easy customization with guided questions
- Multiple export formats: pdf, docx
- Standard clauses adapted for Nigeria, Kenya and South Africa
- Instant download after generation
- Professional formatting and layout
- Easy customization with guided questions
- Multiple export formats: pdf, docx
- Legally reviewed and compliant
- Instant download after generation
What is a loan agreement and why do I need one?
A loan agreement is a legally binding contract that records the terms of a loan of money — how much is lent, the interest, how and when it is repaid, and what happens if a payment is missed. Putting a loan in writing protects both sides: the lender has a clear right to be repaid, and the borrower knows exactly what is owed and when. In Nigeria, Kenya and South Africa a written, properly executed agreement is far easier to enforce than an informal promise — and it is often needed as evidence in court.
Does this template work for Nigeria, Kenya and South Africa?
Yes. You choose the governing country from a selector, and the agreement is expressed to be governed by that country's law, with disputes going to its courts. The wording on currency, interest limits and stamp duty is written to fit all three markets. Because lending rules still differ in detail — for example South Africa's National Credit Act or Kenya's in-duplum rule — check the specific requirements in your country for regulated or consumer loans.
How is interest calculated, and are there limits?
Interest is charged on the outstanding balance at the annual rate you set, on a simple-interest basis, from the day the loan is paid out until it is repaid in full. You can also set the rate to 0% for an interest-free loan. The template notes that the agreed rate must not exceed any legal maximum in the chosen country, since Nigeria, Kenya and South Africa each regulate interest and charges differently.
What is the repayment schedule and the Maturity Date?
The repayment schedule is how the loan is paid back — a set number of instalments of a fixed amount, paid on a chosen frequency (for example monthly), starting on the first payment date. The Maturity Date is the final deadline by which the whole loan, plus interest and other sums due, must be fully repaid. The borrower can also repay early at any time without penalty.
Does the loan need security, a witness, or stamping?
Security is optional — the template works for both secured and unsecured loans, and you describe any collateral or guarantor in the security clause. It includes a witness signature block, reflecting common execution practice in these countries, and a stamp-duty clause noting that any duty payable is the borrower's responsibility and that the agreement should be stamped or registered where required to be admissible in evidence.
What happens if the borrower defaults?
If a payment is late, default interest applies and a short grace period runs before the miss becomes an event of default. After that — or on other defaults such as insolvency — the lender can declare the whole loan immediately due, enforce any security, and recover reasonable costs. Disputes are handled by discussion first, then mediation, then the local courts of the governing country.
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