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The Personal Loan Letter Between Friends is designed for use in Malaysia when individuals wish to formalize a lending arrangement with someone they know personally. This document type bridges the gap between informal lending and formal loan agreements, providing necessary legal protection while maintaining the personal nature of the transaction. It's particularly useful in situations where friends or family members need to document a loan for clarity, tax purposes, or legal compliance. The document includes all essential loan terms, repayment schedules, and any applicable interest rates, while complying with Malaysian legislation including the Contracts Act 1950 and the Moneylenders Act 1951. It's specifically structured to be more approachable than traditional bank loan documents while still maintaining legal validity.

1. Sender's Details: Full name and address of the lender

2. Date: Date of the letter which will be considered the effective date of the loan

3. Recipient's Details: Full name and address of the borrower

4. Loan Amount Declaration: Clear statement of the loan amount in both numbers and words

5. Purpose of Loan: Brief statement of what the loan is for

6. Repayment Terms: Details of how and when the loan will be repaid, including payment schedule

7. Interest Rate: Statement of any interest charged (if applicable) and calculation method

8. Acknowledgment: Statement confirming both parties understand and agree to the terms

9. Signatures: Space for both parties to sign and date the letter