Do I need legal knowledge to use this?

No — just answer simple questions in a guided chat.

How long does it take to create the Loan Agreement?

Most contracts are ready in less than 5 minutes.

Is this Loan Agreement editable after download?

Yes — you can edit the document anytime after download.

What is the maximum interest rate I can charge on a private loan in Thailand?

Under Section 654 of the Thai Civil and Commercial Code, the maximum interest rate for a private loan is 15% per annum. Any interest charged above this rate is void as to the excess. This applies to all private lending between individuals.

Is a written loan agreement legally required in Thailand?

For loans exceeding 2,000 THB, a written agreement or evidence in writing is required for the loan to be enforceable in court (Section 653 of the Civil and Commercial Code). Without a written agreement, you cannot sue to recover the money.

What is stamp duty and do I need to pay it?

Stamp duty is a tax on loan agreements at the rate of 1 THB per 2,000 THB of loan amount (or fraction thereof), capped at 10,000 THB. The stamp must be affixed to the original agreement before or at signing. Without proper stamp duty, the document may not be admissible as evidence in Thai courts.

Can a foreigner lend money in Thailand?

Yes, foreigners can enter into private loan agreements in Thailand. However, regular lending as a business activity requires a license. Occasional private loans to individuals are generally permitted, but large or frequent lending may attract regulatory scrutiny.

What happens if the borrower doesn't repay?

If the borrower defaults, the lender can file a civil lawsuit in Thai court to recover the debt. If collateral was provided, the lender may enforce the security. The statute of limitations for loan claims in Thailand is generally 10 years from the date the debt becomes due.

Do I need witnesses for a loan agreement?

Witnesses are not legally required for a loan agreement in Thailand, but they are strongly recommended. Having two witnesses sign the agreement strengthens its evidentiary value in court and makes it harder for either party to dispute the agreement later.

Can I charge compound interest on a private loan?

Compound interest (interest on interest) is not automatically allowed under Thai law. Under Section 655, the parties may agree in writing that interest shall be compounded, but the total effective rate must still not exceed the 15% per annum maximum.

What should I do if the borrower is a foreigner?

The agreement should include the borrower's passport number and home country address in addition to their Thai address. Consider specifying Thai courts as the venue for dispute resolution, as enforcement of foreign judgments can be complex.