Private Loan Between Relatives
Money between relatives often moves without a single sheet of paper. This path sets up a loan agreement with a repayment plan, issues a receipt for the amount handed over, provides a payment reminder when an instalment is missed, and calculates the late payment interest. Both sides keep something in writing from day one, without making it awkward. Tax rules can apply to loans like this, and the same is true for unusually high interest rates. For larger amounts or unusual terms, ask a professional in case of doubt. Everything runs locally in your browser.
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This workflow guides you through the following steps:
- 1. Set up the loan agreement Enter lender and borrower, amount, interest rate, term in months, start date and purpose. The generator calculates the repayment plan with monthly payment, interest share and balance. Note how the money is handed over, in cash, by transfer or in instalments, and have both sides sign the contract.
- 2. Issue the payout receipt Right after the hand-over: payer is the borrower, recipient the lender. The generator also writes the amount in words and names purpose and method of payment, matching what the contract says.
- 3. Write the payment reminder If an instalment slips, choose the payment reminder stage first and set a new payment deadline with a date. Open amount and due date can be taken from the contract, and the generator attaches a GiroCode for payment.
- 4. Calculate the late payment interest Enter the late instalment, the day it fell due and the day it was paid. The calculator works per § 288 BGB, distinguishes consumers and businesses, and takes the base rate for each period from the Bundesbank history. If it stays at one rate, re-plan it together instead of letting the amount grow quietly.
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What you get at the end
A loan agreement with a repayment plan, a receipt for the payout, a payment reminder and a traceable late payment interest calculation.
Why these steps in this order
Contract first, then receipt, then reminder, and interest last. The paperwork is only worth it once amount and instalments are fixed, and default only becomes calculable once the due date and payment date are documented.
Frequently asked questions
Where is my data stored?
Your playbook progress is saved in your own browser using localStorage. Nothing you enter is uploaded to our servers. Clearing your browser data resets the workflow.