Promissory Note Template

Lending money to a friend or family member? A handshake is nice, but a written note is better. This one-page promissory note spells out the amount, the interest, and the payment plan — so everyone remembers the deal the same way. Print it free before money changes hands.

PROMISSORY NOTE

Date: ______________________

This is a general template for personal use and is not legal advice. For binding agreements, consult a qualified attorney.

1. Borrower

Full name	Phone number
Address

2. Lender

Full name	Phone number
Address

3. Principal Amount

The Borrower promises to pay the Lender the principal sum of:

Principal $ (numbers)

Principal (in words)

4. Interest Rate

Annual interest rate %

Interest accrues at the rate above per year on the unpaid principal balance.

5. Payment Schedule

Monthly payment amount $	Due on the ___ of each month
Number of payments	First payment date

6. Late Fee

A late fee of $ __________ applies to any payment received more than __________ days after its due date.

7. Signatures

Borrower signature

Date

Lender signature

Date

📄 1 page · Fits US Letter & A4 · Free

⬇️ Download options

Print — best for paper · choose “Save as PDF” to download

How to use it

Agree on the amount, interest, and payment schedule before anyone signs.
Print two copies and fill in every blank — no empty lines.
Both parties sign and date both copies; each keeps one.
Keep a simple log of payments received on the back of your copy.

Questions about this form?

Not sure which template fits your situation, or need something customized? Contact us — we read every message.

Frequently Asked Questions

Is a promissory note legally enforceable?

A signed promissory note is a real written promise to repay, and courts generally treat it that way — but enforceability depends on your state and the details. This template is a starting point for personal loans, not a substitute for legal advice.

Should I charge interest on a loan to family?

That's up to you — many family loans are interest-free. But writing down “0% interest” is still worth doing, because it removes the one thing people misremember later: whether interest was ever part of the deal.

What if the borrower misses a payment?

That's what the late-fee line is for. Agree on it upfront, write it down, and it stops being personal — it's just what the note says. Talk to the borrower first, though; most missed payments are forgetfulness, not malice.