Promissory Note
Lending or borrowing money? Fill in the amount, interest rate and number of payments — the promissory note works out each payment and the final date for you.
Your promissory note
Edit it as much as you like — downloading the finished document is part of every plan.
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What's included
- Borrower and lender
- Amount, interest and payment schedule
- Each payment worked out for you
- Late fee and prepayment
- Secured or unsecured
A promissory note with the math done for you
A promissory note is a written promise to repay a loan — between family members, friends, a business and a client, or a buyer and seller. This promissory note template names the borrower and lender and sets out the amount borrowed, the interest rate, how often and how many times the borrower pays, the first payment date, the late fee, and whether the loan is secured by a vehicle or property. The payment amount of the loan and the date of the last payment are worked out for you as you type. Open it in Mega Word Studio to change any wording, then download it as a PDF or Word document to sign.
Payments worked out
Each payment and the final date, calculated.
Secured or unsecured
Back the loan with a car or property if you like.
Ready to sign
Signature lines for borrower and lender.
Frequently asked questions
As a standard fully repaid (amortizing) loan: each payment is the same, covering that period's interest and part of the amount borrowed, so the loan is paid off with the last one. With 0% interest it's the amount divided by the number of payments.