What documents are required to lend money on interest?
I want to lend a certain amount of money at 1% interest. What documentation is required? Do I need to create a registered agreement? Also, what taxes will be applicable?
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Advocate By LEAD INDIA
Answered: 30 May 2025
To lend money at 1% interest, draft a written loan agreement with all terms clearly mentioned. Notarization is advisable, and you should collect post-dated cheques for security purposes. Lend money only through bank deposit or online transfer. Consult a lawyer for proper documentation. For further legal assistance, contact us on our helpline number.
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