This package includes the essential forms needed for making and collecting a personal loan. These forms are an important tool for avoiding future misunderstandings and disputes. Purchase of this package is a savings of more than 50% over purchase of the forms individually!
The following forms are included in this package:
Unsecured Installment Payment Promissory Note for Fixed Rate - This is a Promissory Note for your state. The promissory note is unsecured, with a fixed interest rate, and contains a provision for installment payments.
Secured Promissory Note - This form is a secured Promissory Note. The note includes a provision which describes the collateral to be used as security on the loan. The form also contains a section which details various actions which would constitute default on the note.
Personal Guaranty - General - This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Sample Letter for Past Due Balance - This is a sample notice for use when a debtor is overdue in payments on a promissory note. A time period for making payment before further action is taken, which may be modified to suit your needs, is provided.
Complaint for Past Due Promissory Note - The form is a complaint for a default on payments due pursuant to a promissory note. The complaint adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another.
Promissory Note with Installment Payments - This form is a Promissory Note. The form provides that the borrower promises to pay the lender in monthly installments. The agreement also provides that there will not be a pre-payment penalty on the note.
Notice of Default in Payment Due on Promissory Note - This form is a notice of a failure to make a required payment when due pursuant to a promissory note. The form also contains a warning to the breaching party that legal action will be taken unless the breach is remedied on or before a certain date. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
Resolution of Meeting of Corporation to Make Specific Loan - This form is a resolution of meeting of a board of directors or shareholders to make specific loan. This form may be easily modified for use by other business entities.
Receipt for Payment of Account - This form is a Receipt. The form provides that the undersigned acknowledges the receipt of a certain sum of money which constitutes payment on the account named in the receipt. The receipt also lists the balance remaining on the account, if applicable.
Promissory Note with Confessed Judgment Provisions - This form is a Promissory Note with Confessed Judgment Provisions. The maker of the note promises to repay a loan received from the lender, with interest. The form provides that if the maker defaults upon the loan, the lender may exercise the option of demanding the immediate payment of the entire loan. The debtor agrees to have judgment entered in the lenders favor if court action is brought to enforce collection.
Balloon Unsecured Promissory Note - This form is a model balloon promissory note, with a fixed interest rate. A balloon note is structured such that a large payment is due at the end of the repayment period. Adapt to fit your specific circumstances.
A personal loan from the State Bank of India (SBI) is a financial product that allows individuals to borrow a specific amount of money for various personal needs such as marriage expenses, medical emergencies, home renovations, or debt consolidation. To obtain a personal loan from SBI, applicants need to submit specific documents that serve as proof of their identity, income, and address. These documents are crucial for the bank to assess the borrower's eligibility for the loan. The personal loan documents required by SBI may include: 1. Identity Proof: Applicants must provide valid identification documents such as Aadhaar card, PAN card, passport, voter ID card, or driving license. These documents help establish the borrower's identity and prevent fraud. 2. Address Proof: SBI requires address verification to ensure that the borrower resides at a particular location. Accepted address proof documents may include utility bills (electricity, water, gas), bank statements, rental agreement, or Aadhaar card. 3. Income Proof: Proof of income helps SBI evaluate the borrower's repayment capacity. This can be demonstrated through salary slips, bank statements (for self-employed individuals), Form 16 (income tax return acknowledgment), or income tax returns (IT) for the previous few years. 4. Employment Proof: Individuals applying for personal loans need to provide proof of their employment status. This can be shown through employment letters, offer letters, or appointment letters from their current employer. 5. Bank Statements: SBI may require the submission of bank statements for the previous few months to assess the applicant's financial stability, cash flows, and repayment capacity. 6. Passport-sized photographs: Applicants are usually asked to provide a few passport-sized photographs for identification purposes. These documents mentioned above are general requirements for personal loan applications. However, depending on factors such as loan amount, repayment tenure, and the borrower's profile, additional documents might be requested. SBI offers various types of personal loans to cater to the diverse needs of applicants. These loan products include: 1. Press Credit Personal Loan: This loan is designed to provide quick financial assistance to individuals meeting SBI's eligibility criteria. 2. SBI Pension Loan: Specifically designed for pensioners, this loan offers financial support to retired individuals to meet their personal expenses. 3. SBI Sarah Personal Loan: This loan product is suitable for individuals looking for instant cash to fulfill their immediate financial needs. 4. Press Elite Personal Loan: SBI offers this loan exclusively to select customers meeting specific income and credit score criteria. By understanding the importance of each document and exploring the different types of personal loans available through SBI, potential borrowers can better prepare themselves and increase their chances of securing a personal loan efficiently.
