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Promissory Note for Loan

Shalom.
How do I word a shtar of a non interest loan that I will lend to a friend x amount and he will repay Y amount each month until paid in full?
Thanks

Answer:

You should word it as follows:

[Date]

I, [X] the undersigned, borrowed [such and such] an amount from [Y], which will be paid back in monthly installments of [amount] each month.

The full loan will therefore be completely be paid back by [date].

Signed,

[signature]

 

Best wishes.

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1 Comment

  1. Thank you for your help.
    Shabbat Shalom
    Laurence

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