Loan agreement (Estonia)
A loan agreement between two people: one lends money, the other agrees how and when it comes back. Writing it down keeps a friendly loan friendly.
Who signs
- The lender
- The borrower
What you fill in
- Both parties — names, personal codes and addresses
- The amount — and the date it is paid out
- Interest — the rate, or that there is none
- The repayment schedule — the dates and amounts, or one date for the whole sum
- How payments are made — the bank account they go to
- Late payment — what happens if a payment is late
- Early repayment — whether the borrower may pay back sooner
What the document covers
The parties
Who lends and who borrows.
The amount and when it is paid out
How much is lent, and when and how it reaches the borrower.
Interest
Whether the loan carries interest, and how much.
Paying it back
The schedule the borrower pays to, and to which account.
Late payment
What the borrower owes if a payment is late.
Paying back early
Whether and how the borrower may repay before the end.
Signatures
Both sides sign the same file, each with their own Smart-ID.
Before you sign
- Pay the money out by bank transfer, so there is a record.
The legal text
The lawyer’s text for this template is on its way. Until then this page explains what the document covers.
Sign it with Smart-ID
In the next step you add your own document; the filled-in template comes with the lawyer’s text.