IOU template for Singapore: a simple IOU you can fill in, print and sign
An IOU template is a one-page note that says who lent money to whom, how much, and when it will be paid back, with space to sign. The free Family loan / IOU tool in GetBackedBy's Money tools fills one in from your details. It adds a dated repayment schedule and prints, with no account needed.
This is general information, not legal advice. The tool's sheet calls itself "not a stamped legal instrument", and a lawyer can tell you what a large or unusual loan needs.
What an IOU is, and what to put in it
IOU stands for "I owe you": a short note, signed by the borrower, that acknowledges a debt. The barest one names only the amount, and leaves out what people argue about later, which is when the money comes back.
A useful IOU gives both full names, the amount and the day it was handed over, and any interest, or none. It lists each repayment date and amount, says how repayments are sent, and carries both signatures with the date. The blank version further down has all of it.
Send the money by PayNow or FAST rather than cash, so the bank keeps its own record of the date and the amount.
A filled-in example
Jun Wei is lending his friend Farah money for a trip. The names and figures below are invented, and they are only an example.
| What you type | Example |
|---|---|
| Lender name | Jun Wei |
| Borrower name | Farah |
| Amount | 1,800 |
| Tenure | 6 months |
| Family rate % p.a. | 0 |
| Repayment | Every month |
| Purpose | Trip |
| Start date | 1 March |
The sheet is headed "Acknowledgement of SGD loan". It says Jun Wei agrees to lend 1,800 to Farah for 6 months at 0.0% a year. Farah repays on the dates listed, by FAST or PayNow, straight to Jun Wei and not to GetBackedBy.
Then it shows each payment (300), the interest (0) and the total (1,800), six dated rows, and a line for each of them to sign and date.
Put in a rate and the sheet adds the interest to the payments and the total. Choose "Once at the end" and it shows a single payment of the whole sum.
How to use the free IOU tool
- Open Family loan / IOU on the Circle tab of the Money tools.
- Type both names, the amount, the number of months and the family rate. Zero is fine.
- Choose how repayments fall: every day, every week, every month, or once at the end.
- Add the purpose and the start date. The sheet updates as you type.
- Press Print, then print it or save it as a PDF from your browser.
- Both of you sign and date it, and you each keep a copy.
A blank IOU template you can copy
To write it by hand or in a document instead, copy this and fill in your details.
IOU
Date:
I, [borrower's full name], confirm that I have received [amount] from [lender's full name] on [date], by [PayNow / FAST / cash]. This is a loan, not a gift.
Interest: [none / the rate you agreed, a year]
I will repay it as follows: [amount] on [date], [amount] on [date], [and so on].
Repayments go by [PayNow / FAST] to [lender's name]'s own bank account.
Borrower's signature and date: ______________________
Lender's signature and date: ______________________
Witness's name, signature and date (optional): ______________________
IOU, promissory note or loan agreement
An IOU records that a debt exists, and usually only the borrower signs it. A promissory note is a signed promise to pay a fixed sum to a named person, on demand or on a set date. It usually adds the date, any interest and where the money is paid. A loan agreement is signed by both and also says what happens if a payment is missed or comes early.
The tool's sheet sits between them: both people sign it, and it carries the full schedule. For a flat, a guarantor or a large sum, ask a lawyer about a full agreement.
Witness, stamp duty and writing it down
We found no official page requiring a witness for a loan between two people. A witness who signs too can still help if a signature is ever questioned.
On stamp duty, IRAS describes it as "a tax on dutiable documents relating to immovable properties in Singapore and stocks and shares" (read on 9 November 2026). If your loan involves property or shares, ask a lawyer.
Section 6 of the Civil Law Act 1909 lists agreements that cannot be sued on without signed writing. The writing must be signed by the person being held to it. One of these is an agreement not to be performed within a year. So if a loan will take more than a year to repay, get it in writing and signed.
Interest brings in the Moneylenders Act and tax, which our guide to lending money to family and friends explains with the time limit on claims.
Keeping the IOU and the payments together
A signed sheet records what you agreed, but not what has been paid since. Circle keeps that part. One of you invites the other, you set the same terms together, and they lock once both of you accept.
The money goes by FAST or PayNow between your own accounts. The sender uploads the receipt and the other side marks it received. Reminders go out before each due date, and you can both print the agreement and, at the end, a close-out statement. Neither of you pays anything.
In a Circle, GetBackedBy keeps the record and is not the lender. It does not lend, hold or move the money, guarantee repayment, collect a debt or charge a fee.
To make yours, fill in the Family loan / IOU tool with your own names and dates, print it, and sign it together.
Questions
What does IOU stand for?
It stands for "I owe you". It is a short written note in which one person acknowledges owing money to another, usually signed by the person who owes it.
How do I write an IOU?
Write both full names, the amount, the date it was handed over, any interest, and each repayment date and amount. Then both of you sign and date it.
Is an IOU legally binding in Singapore?
A signed IOU is written evidence that a debt exists. Some agreements, such as one repaid over more than a year, need signed writing before they can be sued on. No official page we found sets a form for an IOU between two people. Whether yours would hold up in a dispute is a question for a lawyer.
Can I write my own IOU or promissory note?
Yes. We found no official page saying you need a lawyer to write one for a loan between two people. A lawyer is worth asking about a large sum, property, shares or a guarantor.
Can an IOU include interest?
Yes, and it can also say that there is none. Charging interest brings in the Moneylenders Act's presumption that the lender is a moneylender until the contrary is proved, and IRAS treats interest from loans to persons as taxable. A lawyer or IRAS can advise on your own case.
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