What is a promissory note?

A written promise by a borrower to repay a loan, with the amount, interest, payment schedule and what happens on default.

Does every state limit interest?

Each state has its own usury rules, and the limits differ a lot (for example 6% in Pennsylvania for small non-business loans and 18% in Florida). Our form checks the rate for your state.

Promissory Note by State

Create a promissory note for a loan between individuals, with the interest limit, legal rate and late-fee rules of your state. Secured (with collateral) or unsecured. Free preview, then download PDF + Word.

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Frequently asked questions

What is a promissory note?: A written promise by a borrower to repay a loan, with the amount, interest, payment schedule and what happens on default.
Does every state limit interest?: Each state has its own usury rules, and the limits differ a lot (for example 6% in Pennsylvania for small non-business loans and 18% in Florida). Our form checks the rate for your state.

DoneDoc provides self-help forms and is not a law firm. We recommend having your document reviewed by a licensed attorney in your state before signing.