Ohio Promissory Note (2026)
A Ohio promissory note records a loan: amount, interest, payments, late fee and default. 8% per year (R.C. §1343.01(A)); a higher rate may be allowed when the original principal is over $100,000 or in other cases in §1343.01(B).
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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.
Ohio promissory note: key facts
- Maximum interest (usury limit)
- 8% per year (R.C. §1343.01(A)); a higher rate may be allowed when the original principal is over $100,000 or in other cases in §1343.01(B).
- Legal rate when the note sets none
- The yearly rate set by the Tax Commissioner (R.C. §1343.03 and §5703.47) — check the current rate.
- Time limit to sue
- Ohio: 6 years for a written contract (R.C. §2305.06).
- 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: Ohio Revised Code §1343.01 · Ohio Revised Code §2305.06 · Last reviewed: October 2026
Frequently asked questions
- What is the maximum interest rate on a personal loan in Ohio?
- 8% per year (R.C. §1343.01(A)); a higher rate may be allowed when the original principal is over $100,000 or in other cases in §1343.01(B). Our form blocks rates above the safe limit for your state.
- Does a promissory note need to be notarized in Ohio?
- 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 Ohio?
- Ohio: 6 years for a written contract (R.C. §2305.06).
- 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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