I would omit the from the sentence, but apart from that, how about: I will lend you the money, on condition that you pay me back on Saturday.
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Blue JayI will lend you the money, on condition that you pay me back on Saturday.Hi Blue Jay
vsureshIs the comma necessary here?No, but it's not wrong. It makes a difference in emphasis. With the comma included, the second part of the sentence seems like an additional remark.