North Carolina Promissory Note (2026)
A North Carolina promissory note records a loan: amount, interest, payments, late fee and default. Loans of $25,000 or less: the rate published monthly by the Commissioner of Banks (6-month T-bill + 6%, never below 16%) (G.S. §24-1.1). Over $25,000: any rate agreed in writing.
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Choose your version
- Secured Promissory NoteThe borrower pledges property (a car, equipment) as security for the loan.
- Unsecured Promissory NoteA personal promise to repay, with no property pledged — common between friends and family.
North Carolina promissory note: key facts
- Maximum interest (usury limit)
- Loans of $25,000 or less: the rate published monthly by the Commissioner of Banks (6-month T-bill + 6%, never below 16%) (G.S. §24-1.1). Over $25,000: any rate agreed in writing.
- Legal rate when the note sets none
- 8% per year (G.S. §24-1).
- Time limit to sue
- North Carolina: 3 years for a contract (G.S. §1-52(1)); other periods may apply to negotiable or sealed instruments — ask an attorney.
- Notary required?
- No requirement was found for a simple promissory note; notarizing is optional. A lien on real estate needs a separate mortgage or deed of trust.
Official sources: N.C. Gen. Stat. §24-1.1 · N.C. Gen. Stat. §24-1 · N.C. Gen. Stat. §1-52 · Last reviewed: October 2026
Frequently asked questions
- What is the maximum interest rate on a personal loan in North Carolina?
- Loans of $25,000 or less: the rate published monthly by the Commissioner of Banks (6-month T-bill + 6%, never below 16%) (G.S. §24-1.1). Over $25,000: any rate agreed in writing. Our form blocks rates above the safe limit for your state.
- Does a promissory note need to be notarized in North Carolina?
- No requirement was found for a simple promissory note; notarizing is optional. A lien on real estate needs a separate mortgage or deed of trust.
- Secured or unsecured: which one do I need?
- Use a secured note when the borrower pledges property, such as a car or equipment, that the lender can enforce against after a default. Use an unsecured note for a simple personal promise to repay.
- How long do I have to sue on an unpaid note in North Carolina?
- North Carolina: 3 years for a contract (G.S. §1-52(1)); other periods may apply to negotiable or sealed instruments — ask an attorney.
- Can I get it in Spanish?
- Yes. You sign the English note and also receive a Spanish reference translation and Spanish instructions.
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.
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