INSTALLMENT BOND
I KC, s/o Mr. RC r/o ………………… have borrowed a sum of Rs……….from Mr. SK s/o K r/o ……………………... I hereby promise that the said sum shall be paid in twelve equal instalments of Rs………………each by first week of each month. I further promise that interest at the rate of 18% per annum shall also be paid along with monthly instalment.
AND I hereby agree that in case of my failure to pay the instalment alongwith interest the whole amount shall become due at once.
Witnesses:
1. Name……………… Signature of…………
Address……………. (KC)
1. Name………………..
Address…………….
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