My wife lent ₹20 lakhs to a close friend, and she receives monthly interest payments. What stamp paper value is needed for an agreement, and what key points should it cover? Could you share a sample agreement draft?

Apni Law
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Law Forum › Category: Documentation › My wife lent ₹20 lakhs to a close friend, and she receives monthly interest payments. What stamp paper value is needed for an agreement, and what key points should it cover? Could you share a sample agreement draft?
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Apni Law Staff asked 2 years ago

My wife lent ₹20 lakhs to a close friend, and she receives monthly interest payments. What stamp paper value is needed for an agreement, and what key points should it cover? Could you share a sample agreement draft?

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Best Answer

Apni Law Staff answered 2 years ago

As per Indian Stamp Act, the stamp duty for a loan agreement varies by state. The agreement should include the loan amount, interest rate, repayment schedule, borrower’s and lender’s details, and consequences of default. A sample agreement can be found online or drafted with legal assistance.

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