Kaagazaat

Loan Repayment Receipt and Final Settlement

At a glance

Price: Free, always.
Stamp duty: A receipt may need a revenue stamp, depending on the amount and on the stamp law in force.
Registration: Not registrable.
Witnesses: A part payment needs no witnesses; the form does not ask for them.

Free

Free, always.

Free: up to 5 documents a day.

Guided questions, full draft on screen, download in Word.

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Also called

Loan Repayment Receipt
Loan Closure Receipt
Full and Final Settlement Receipt
No Dues Receipt for Loan
Karza Wapsi Rasid
Udhar Wapsi Rasid
ਲੋਨ ਵਾਪਸੀ ਰਸੀਦ
ਉਧਾਰ ਵਾਪਸੀ ਦੀ ਰਸੀਦ

When you need it

Use this when a borrower pays back part of a loan, or the last of it. You choose in the questions which one it is, and the document changes to match. A part payment: the receipt records the amount, the date and how it was paid, and states the balance still due, so neither side later disagrees about how much is left.

A final payment: the receipt records the last amount, states that the loan is repaid in full and closed, releases the borrower from any claim on it, and lists the security (such as cheques) handed back. Both the lender and the borrower sign, and two witnesses sign. The settlement amount must be right. This document does not calculate interest or the balance; check them against the loan paper before signing. If the lender is willing to accept less than the full amount owed, that is a compromise and is better recorded through the One-Time Settlement (OTS) Proposal first, then closed with this receipt. Not for a payment on something other than a loan: use the Money Receipt. Not for money still owed: see the Acknowledgement of Debt. A receipt for a loan from a bank or finance company comes from that lender.

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

Fill this one in

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

A receipt may need a revenue stamp, depending on the amount and on the stamp law in force. This template does not state a threshold or a denomination, because they are fixed by rules that change. Check the current rule with a stamp vendor or the SHCIL e-stamping portal before signing, particularly for a large final payment. The same rule applies in Punjab and in Chandigarh unless that check shows otherwise. A receipt that is not properly stamped can be objected to in evidence until the shortfall and any penalty are paid, so it is worth stamping at signing.

Registration

Not registrable. A receipt records that a payment was made and creates no interest in property. If the loan was secured by a mortgage of land or a house, the release of that mortgage is a separate registered paper and is not covered here.

Notarisation

Not required. For a final settlement, notarisation is a useful extra because it fixes the date of signing independently.

Witnesses

A part payment needs no witnesses; the form does not ask for them. For a final settlement the form asks for two witnesses, because the settlement closes the loan and releases the Borrower, and a dispute later is usually about what was signed and when.

Request Stamp Paper

Sample preview — placeholder answers, not your data

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LOAN REPAYMENT RECEIPT

Received at Chandigarh on 2 April 2026 by Rajinder Kumar Sethi, of House No. 1451, Sector 33-D, Chandigarh 160020 (the "Lender"), from Vikram Sethi, of House No. 214, Phase 4, S.A.S. Nagar (Mohali) 160059 (the "Borrower"), the sum of ₹1,00,000 (Rupees One Lakh only), by bank transfer (NEFT, RTGS or IMPS), reference UTR HDFC0N2603140012345, as a part payment towards the loan of ₹3,00,000 (Rupees Three Lakh only) given by the Lender to the Borrower on 1 April 2026.

The loan is recorded in: EMI Loan Agreement with Security Cheques dated 5 November 2026 between the same Parties.

1. THIS IS A PART PAYMENT

1.1 This is a part payment only. The loan is not closed. After this payment, the balance still due from the Borrower to the Lender is ₹2,00,000 (Rupees Two Lakh only).

1.2 Unless the Parties have agreed otherwise in writing, this payment is applied first towards interest accrued on the loan (if any) and then towards principal.

1.3 This receipt does not change the terms of the loan, does not release any security, and does not waive any right of the Lender in respect of the balance.

2. MODE OF PAYMENT

2.1 The mode of payment is as stated above. Income-tax law restricts repaying a loan in cash above a limit, so a repayment above that limit should be made by a bank mode. The Parties shall each comply with the income-tax law that applies to them.

3. STAMPING

3.1 This receipt is stamped, where the law requires it, consistently with the stamping note that accompanies this template.

SIGNED by the LENDER, acknowledging receipt of the amount above:
Rajinder Kumar Sethi

Signature: ______________________________
(Sign across the revenue stamp, if one is affixed, so that it cannot be reused)

Questions about this document

Does the Loan Repayment Receipt and Final Settlement need stamp paper or stamp duty in Punjab and Chandigarh?

A receipt may need a revenue stamp, depending on the amount and on the stamp law in force.

See the full position on stamp duty, registration and witnesses

Does the Loan Repayment Receipt and Final Settlement need registration in Punjab and Chandigarh?

Not registrable.

See the full position on stamp duty, registration and witnesses

What does the Loan Repayment Receipt and Final Settlement cost on Kaagazaat?

Free, always.

Does the Loan Repayment Receipt and Final Settlement need witnesses?

A part payment needs no witnesses; the form does not ask for them.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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