Promissory Note Generator

Create a lump-sum or installment promissory note, with the monthly payment calculated for you.

Not legal advice. Some states cap interest rates on private loans (usury limits) — check your state's rules before setting a rate, and consider having larger loans reviewed by a licensed attorney.

Lender full name Lender address Borrower full name Borrower address Principal amount ($) Annual interest rate (%) Enter 0 for an interest-free loan. Note date Governing state / jurisdiction

Repayment structure

Due date

Late fee (flat $ per missed payment)

Prepayment allowed without penalty

When you need a promissory note

A promissory note is a written, signed promise to repay a loan — useful for a loan between family or friends, a small business loan from an individual investor, or any private loan where you want clear terms in writing. Choose lump sum for a single repayment by a set date, or monthly installments to spread repayment over time — the calculator works out the monthly payment for you using standard amortization math, the same formula lenders use.

Watch your state's usury limit

Most states cap the interest rate that can be charged on a private loan without a lending license — rates above that limit can make the note unenforceable or even illegal in some states. Look up your state's usury limit before setting a rate above a few percentage points.

Promissory Note Generator

When you need a promissory note

Watch your state's usury limit

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