Promissory Note · Pennsylvania
Pennsylvania Secured Promissory Note (2026)
The borrower pledges property (a car, equipment) as security for the loan. Interest limit in Pennsylvania: 6% per year for loans of $50,000 or less (41 P.S. §201(a)). It does not apply to loans over $50,000, unsecured loans over $35,000, or business loans (§201(b)).
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Pennsylvania promissory note: key facts
- Maximum interest (usury limit)
- 6% per year for loans of $50,000 or less (41 P.S. §201(a)). It does not apply to loans over $50,000, unsecured loans over $35,000, or business loans (§201(b)).
- Legal rate when the note sets none
- 6% per year (41 P.S. §202).
- Time limit to sue
- Pennsylvania: 4 years for a note (42 Pa.C.S. §5525(a)(7)); a different period may apply to a negotiable note — 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: Pennsylvania Act 6 of 1974 (41 P.S. §201) · 42 Pa.C.S. §5525 · Last reviewed: October 2026
Frequently asked questions
- What is the maximum interest rate on a personal loan in Pennsylvania?
- 6% per year for loans of $50,000 or less (41 P.S. §201(a)). It does not apply to loans over $50,000, unsecured loans over $35,000, or business loans (§201(b)). Our form blocks rates above the safe limit for your state.
- Does a promissory note need to be notarized in Pennsylvania?
- 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 Pennsylvania?
- Pennsylvania: 4 years for a note (42 Pa.C.S. §5525(a)(7)); a different period may apply to a negotiable note — 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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