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Personal Loan Agreement Template
A personal loan agreement records a loan between friends, family members, or private parties. Use our free New Zealand template to document principal, interest, and repayment clearly — protecting the relationship and providing evidence if the loan is ever disputed.
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PERSONAL LOAN AGREEMENT
Private Loan Between Individuals — CCLA 2017
LENDER
Patricia A. Owen
78 Willis Street, Wellington 6011
By: +64 21 333 1122 · patricia.owen@email.com
BORROWER
Thomas J. Owen
12 Cuba Street, Wellington 6011
By: +64 21 444 3344 · thomas.owen@email.com
Date: 15 April 2026
Loan Amount: $10,000.00 NZD
This Personal Loan Agreement ("Agreement") is entered into on 15 April 2026 between Patricia A. Owen ("Lender") and Thomas J. Owen ("Borrower"). This Agreement is governed by the laws of New Zealand, including the Contract and Commercial Law Act 2017 (CCLA 2017). Note: This Agreement is for a personal private loan between individuals. It is not a loan by a registered lender or credit provider, and the Credit Contracts and Consumer Finance Act 2003 (CCCFA 2003) may or may not apply depending on the parties' circumstances. Both parties are encouraged to seek independent legal or financial advice if unsure of their obligations.
1.
LOAN AMOUNT
The Lender agrees to lend, and the Borrower agrees to borrow, the sum of $10,000.00 NZD (the "Loan"). The Loan shall be advanced by the Lender to the Borrower on or about the date of this Agreement by bank transfer to the Borrower's nominated bank account or by such other method as the parties agree. The purpose of the Loan is: family financial assistance.
2.
INTEREST
No interest is payable on this Loan. The Borrower shall repay only the principal amount of $10,000.00 NZD in accordance with the repayment schedule set out below. Both parties acknowledge that an interest-free loan may have gift duty or income tax implications in certain circumstances, and each party is responsible for seeking their own tax advice from a qualified adviser or Inland Revenue (IR) if required.
3.
REPAYMENT SCHEDULE
The Borrower agrees to repay the Loan as follows: (a) repayments shall be made monthly, in the amount of $500.00 NZD per instalment; (b) the first repayment shall be due on 1 June 2026; (c) repayments shall continue until the Loan and all accrued interest (if any) has been repaid in full. The Borrower may make early repayments at any time without penalty. Any early repayment shall first be applied to accrued interest (if any) and then to the outstanding principal.
4.
REPAYMENT METHOD
All repayments shall be made by direct bank transfer to the Lender's nominated bank account. The Lender shall provide the Borrower with their bank account details in writing. Payments shall be deemed received when cleared funds appear in the Lender's account. The Borrower shall provide a reference (such as their name) with each payment to enable identification.
5.
DEFAULT
An event of default occurs if: (a) the Borrower fails to make any payment when due and such failure continues for more than 7 days after written notice from the Lender; (b) the Borrower becomes insolvent or is unable to meet their financial obligations; or (c) the Borrower has materially misrepresented any information in connection with this Agreement. Upon default, the entire outstanding balance of the Loan, together with all accrued interest, shall at the Lender's option become immediately due and payable. The Lender may seek recovery through the Disputes Tribunal (for amounts up to NZD 30,000) or through the District Court or High Court of New Zealand as appropriate. Under CCLA 2017, the Lender is entitled to pursue all available remedies at law.
6.
ACKNOWLEDGEMENT OF DEBT
The Borrower acknowledges: (a) the receipt of the Loan from the Lender; (b) the obligation to repay the Loan in full with interest (if applicable) on the terms set out herein; (c) that this Agreement constitutes a legally binding commitment under New Zealand law; and (d) that a copy of this Agreement, signed by both parties, shall serve as evidence of the debt obligation for any recovery proceedings.
7.
GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of New Zealand, including the Contract and Commercial Law Act 2017 (CCLA 2017). Any dispute arising under this Agreement shall be resolved through the Disputes Tribunal (for claims up to NZD 30,000) or through the New Zealand courts, as appropriate. Both parties submit to the jurisdiction of the New Zealand courts.
8.
GENERAL PROVISIONS
Entire Agreement: This Agreement constitutes the entire agreement between the parties regarding the Loan and supersedes all prior oral or written agreements. Amendment: Amendments must be in writing and signed by both parties. Severability: If any provision is unenforceable, the remaining provisions continue in full force. Waiver: Failure by the Lender to enforce any right shall not constitute a waiver. Electronic Execution: This Agreement may be executed electronically with the same effect as a handwritten signature under CCLA 2017, Part 4.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated.
LENDER
Patricia A. Owen
Date: ____________________
BORROWER
Thomas J. Owen
Date: ____________________
Available as a print-ready PDF or an editable Microsoft Word (.docx) file.
What Is a Personal Loan Agreement?
A personal loan agreement is a written contract in which an individual lends money to another individual — often a family member, friend, or partner — on agreed terms for repayment. It is distinct from commercial lending by a bank or finance company, and usually involves smaller amounts, simpler terms, and lower (or zero) interest.
In New Zealand, personal loans between private parties are enforceable contracts under the Contract and Commercial Law Act 2017. The Credit Contracts and Consumer Finance Act 2003 (CCCFA) generally does not apply unless the lender is providing credit "in the course of a business" — a one-off loan between genuine friends or relatives usually falls outside the CCCFA. Making a habit of lending, however, can bring the lender within the CCCFA with all its consumer-protection obligations.
Even though personal loans often feel informal, a written agreement is strongly recommended. It provides evidence of the loan if the borrower later denies receiving it, fixes the repayment expectation in both minds, helps preserve the personal relationship, and supports enforcement in the Disputes Tribunal or District Court if repayment is not made. It also restarts the limitation clock under section 52 of the Limitation Act 2010 if the debt is later acknowledged in writing.
What's Covered in This Template
Our personal loan agreement template captures all the terms a private loan should record, in plain English.
Lender and Borrower Details
Full legal names and addresses of the lender and borrower.
Principal Amount
The exact amount being loaned and the date of the advance.
Interest Rate
Any interest payable (including zero per cent), and how interest is calculated.
Repayment Schedule
Lump sum or instalments, payment dates, and final repayment date.
Payment Method
How payments will be made — bank transfer, automatic payment, or cash.
Purpose of the Loan
Optional statement of the purpose (e.g. home deposit, vehicle, education).
Early Repayment
Whether the borrower can repay early without penalty.
Default
What counts as default and the lender’s right to call in the balance.
Guarantee or Security
Optional personal guarantee or security over an identified asset.
Gift Clause
Optional clause clarifying that any forgiven amount becomes a gift not repayable.
Governing Law
Application of New Zealand law and jurisdiction of NZ courts.
Signatures
Space for both parties to sign and date the agreement.
How to Create a Personal Loan Agreement
Generate a clean, enforceable personal loan agreement in minutes.
- 1
Enter Lender and Borrower Details
Provide full legal names, addresses, and contact details for both parties.
- 2
Set the Principal and Interest
Enter the loan amount, the date of advance, and the interest rate (or 0% for interest-free loans).
- 3
Choose the Repayment Schedule
Decide between a single lump sum at a future date or regular instalments (weekly, fortnightly, monthly).
- 4
Add Security or Guarantee (Optional)
Decide whether to require a personal guarantee or security over an asset.
- 5
Review and Sign
Review the terms carefully, download the PDF, and have both parties sign (ideally in front of an independent witness).
Why Doxuno documents are different
Four things that make our templates more thorough than AI-generated drafts and more current than static template libraries.
Always current
Always current with the law
Templates carrying statute references are continuously updated as the law changes. Your document always reflects the current legal framework.
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Print-ready PDF
Free to download. Vector text, embedded fonts, statute citations baked in. Print, sign, file. Ready for any signing flow including electronic signature.
Word · .docx
Editable Word (.docx)
Continue editing in Word after download. Add custom clauses, reuse the template for similar agreements, or share with a colleague for collaborative review.
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Legal Considerations
Personal loans are simpler than commercial loans but still engage important legal principles.
This template is for informational purposes only and does not constitute legal or financial advice. For significant amounts or complex family arrangements, consider advice from a New Zealand lawyer or accountant.
Reviewed for New Zealand law
CCCFA Application
New Zealand’s Credit Contracts and Consumer Finance Act 2003 regulates consumer credit contracts entered into "in the course of a business" of providing credit. A genuine one-off loan between private individuals is usually outside the CCCFA. However, someone who habitually lends to others (e.g. a person running a side business of small loans) may be caught by the CCCFA and be required to comply with disclosure, affordability, suitability, and interest-rate rules. The New Zealand Commerce Commission enforces these rules. If in doubt, take advice.
Family and Relationship Lending
Loans between partners, from parents to adult children, or between siblings often intersect with relationship property. Under the Property (Relationships) Act 1976, a loan advanced to one partner during the relationship can be treated as their separate debt, relationship debt, or a gift depending on documentation and circumstances. Documenting a loan clearly helps avoid disputes on separation or inheritance.
Limitation and Acknowledgements
Under section 11 of the Limitation Act 2010, most contract claims must be brought within six years of the cause of action accruing. For demand loans, the limitation period usually starts when demand is made. A written acknowledgement or part payment by the borrower restarts the clock (section 52). Personal loan agreements should therefore be revisited if the debt remains unpaid for several years.
Tax Treatment
Interest received on a personal loan is usually taxable income to the lender under the Income Tax Act 2007. Interest-free loans between friends and family are common and do not create taxable interest income, but large interest-free loans from parents to adult children may be reviewed in gift or inheritance contexts. For any loan of substance, take tax advice.
Frequently Asked Questions
Lend to Family or Friends with Clarity
Create a clear, friendly, and enforceable New Zealand personal loan agreement in minutes. Protect the relationship, document the deal.
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