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I Owe You Money (IOU) PDF Template Online

Keeping track of financial transactions between individuals can be challenging, especially when it comes to small loans or informal agreements. This is where an "I Owe You" (IOU) document can be incredibly helpful.


An IOU is a simple written statement that acknowledges a debt owed by one person to another, and it can be used to formalize a wide range of financial transactions, including small loans, repayments, and other agreements.

To make the process of creating an IOU easier and more convenient, we offer a free IOU template that can be downloaded directly from our website. Our document is designed to be simple and straightforward, making it easy for anyone to fill in and use.

In this article, we'll walk you through the steps of filling in our template and explain how to send it to the other party. Whether you need to formalize a loan or simply keep track of a small debt, our IOU template is an excellent tool to have on hand.

Once you download the document, you can open it in our PDF editor and add your own details, including the amount owed, the date of the transaction, and any other relevant information. You can also adjust the formatting and layout of the template to match your preferences. With our easy-to-use template, creating a clear and professional IOU document has never been easier.

In addition, remember that with our tools you can add a password to the template and add a watermark too.

How To Fill In The I Owe You Money (IOU) PDF Template

If you need to borrow or lend money and want to use an IOU to formalize the agreement, you can follow these step-by-step instructions to fill in the provided template.

Step 1: Download the IOU Template

  • Download the template provided above.

Step 2: Enter the Date and Parties Involved

  • In the first section, enter the date of the agreement in the space provided. Then, fill in the names of the parties involved, including the borrower's name and mailing address and the lender's name and mailing address.

Step 3: Add Loan Terms

  • In the next section, provide the loan terms. Firstly, enter the principal amount of the loan in dollars in the space provided. Then, write the interest rate percentage and how it will be compounded, whether monthly, annually, or other. If you choose "other," specify the compounding period.
  • Lastly, write the date on which the borrower will receive the borrowed money.

Step 4: Choose the Payment Option

  • The next section requires you to choose the payment option, which will determine how the borrower will repay the loan.
  • If you choose "A Lump Sum", the borrower must pay the entire loan amount including the interest by a specific date. Specify the amount and the due date in the spaces provided.
  • If you choose "Installments," the borrower will pay the loan in equal installments. Specify the amount of each installment, the due date of the first installment, and the frequency of future payments. Choose from weekly, monthly, or quarterly payments. Then specify the due date of the final payment which should be the same date as the due date in the "A Lump Sum" option.

Step 5: Sign and Print the Document

  • The last section of the IOU template requires the signature of the lender and the borrower. Once you have reviewed the document and agree to the terms, sign your name and print it below the signature line. Do the same for the borrower.

Step 6: Save a Copy

  • Make a copy of the completed document for both the borrower's and the lender's records. Save the original document in a safe place.

Congratulations, you have successfully filled in the template!

Tips About Using IOUs

There are many situations where using an IOU can be beneficial. For example, you might use it to:

  • Record a small loan between friends or family members
  • Formalize a repayment plan for a debt
  • Keep track of expenses in a shared living situation

Before filling in the template, it's important to agree on the terms of the transaction with the other party. This includes specifying the amount owed, the repayment schedule (if applicable), and any other relevant details. Once you've agreed on the terms, you can fill in the template with the necessary information.

To make the IOU as professional and legally binding as possible, there are a few tips to keep in mind:

  • Firstly, make sure to include the date, the names of both parties, and a clear statement of the amount owed. It's also a good idea to specify any interest or fees that may apply, and to sign and date the document.
  • Keep a copy of the file for your records and share a copy with the other party as well.
  • Although an IOU is often used in informal settings, it's important to treat it as a professional document.
  • Before creating a document, communicate openly with the other party about the terms of the agreement. This helps ensure that both parties are on the same page and can help prevent any potential disputes.
  • If you're unsure about the legal implications of an IOU or if the amount owed is significant, consider seeking legal advice. A lawyer can help ensure that the IOU is legally binding and can help you understand your rights and obligations.

By following these tips and using our customizable template, you can create a professional and legally binding document that helps ensure clear communication and accountability in financial transactions.

In conclusion, this template is an easy and convenient way to formalize a loan agreement between two parties. By using this template, both the borrower and the lender can agree on the terms of the loan, including the principal amount, interest rate, and repayment plan.

It's important to remember that an IOU is a legally binding document, so it's crucial to carefully review the terms and ensure that both parties understand their responsibilities. Additionally, it's recommended to keep a copy of the completed IOU for future reference.

Using a template can help avoid misunderstandings and disputes between the borrower and the lender. If you need to borrow or lend money, use this IOU PDF template to formalize the agreement and protect both parties' interests. What's more, if you need to, on our blog you can learn how to edit the PDF in Microsoft Word or add notes to it too.

Meet Maggie, a writer who's made a name for herself in the world of technology writing. After graduation, Maggie landed her first job at a tech company, where she quickly realized her passion for writing about various topics, including cybersecurity, artificial intelligence, and web development. Today, Maggie writes for FormatPDF.com. When she isn't writing about technology, she enjoys traveling, trying new foods, and spending time with her family and friends.
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