As long as it is signed by both parties (preferably the content is also written by the borrower, and the content does not violate legal provisions (such as usury, etc.), it will be legally binding.

The necessary conditions for a loan contract to be legally binding are the name of the lender, the loan amount, the borrower's signature or seal and fingerprint. It is best to have a witness present and the witness must also sign and fingerprint. < /p>

What should be included in the loan contract

1. Type of loan

The type of loan is mainly based on the industry attributes of the borrower, the purpose of the loan, and the source and use of funds. For different types of loans, the national credit policy has different provisions on loan limits, interest rates, etc., to reflect the credit principle of differentiated treatment and preferential support. Therefore, the loan contract must specify the loan type, which is a loan contract. Indispensable main terms.

2. Loan currency

The loan currency is the type of loan contract. In addition to RMB, the loan contract also includes some foreign currencies, such as U.S. dollars, Japanese yen, euros, etc. Different currency types have different loan interest rates, and the loan contract should clearly specify the currency type.

3. The purpose of the loan

The purpose of the loan refers to the use of the loan. The scope and content of the loan, that is, which factors of production are combined with the loan in the production and reproduction process, which stipulates the direction of the loan's use is determined by the type and conditions of the loan. The bank strictly stipulates and supervises the various loan uses. The use of loans is conducive to ensuring the implementation of national industrial policies and the coordinated development of the national economy, and is also conducive to ensuring the safety of the loan.

4. Amount of loan

Amount of loan. , refers to the amount of loan currency. Any contract must have a quantity clause. A contract with only subject matter but no quantity cannot be performed. Without quantity, the rights and obligations of the parties cannot be determined. A loan contract cannot be determined without the amount of loan. The amount of borrowed currency also loses the basis for calculating loan interest. Therefore, without a loan amount clause, the loan contract cannot be established.

5. Borrowing interest rate

Interest rate refers to a certain period of time. The ratio of loan interest to loan principal. The level of interest rate is crucial to determine the rights and obligations of both parties. The loan contract cannot have an interest rate clause.

6. Loan term

Loan. The term refers to the loan period agreed in the contract by the borrower and the lender in accordance with relevant regulations. The loan period should be determined separately according to the type of loan, the nature of the loan, and the purpose of the loan. In the loan contract, the loan period must be specific, clear, and comprehensive. Ensure the smooth performance of the loan contract.

7. Repayment method

The repayment method refers to the settlement method that the borrower can generally use to return the loan to the lender. One-time settlement and repayment in installments are adopted. If it is in installments, the specific time and amount should be specified.

8. Liability for breach of contract

Liability for breach of contract refers to the failure of the party to perform. legal liability for contractual obligations. If there is no breach of contract liability clause in the loan contract, the parties' breach of contract will lose the legal basis for binding, the parties' rights will lose their protection, and the performance of the contract will be seriously affected. The default liability clause stipulated in the loan contract is of great significance to urge the parties to perform the contract in a timely, correct and comprehensive manner and to protect the rights and interests of the parties.