When it comes to a private loan, if you do not want interest, the same must be mentioned in the credit agreement. If you want an interest rate, you need to mention how they want to pay the interest and whether or not the prepayment of the loan comes with an incentive to the interest rate. on the balance of the loan until the credit is paid in full. Debt – A promise of payment made by a debtor and a creditor lending money. A credit agreement is a legal agreement between a lender and a borrower that defines the terms of a loan. A model credit agreement allows lenders and borrowers to agree on the amount of credit, interest and repayment plan. If a disagreement subsequently arises, a simple agreement serves as evidence for a neutral third party such as a judge who can assist in the application of the treaty.