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