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Promissory Note Template

Written promise to repay a stated sum on a stated date or by instalments, with interest and late-payment terms.

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Promissory Note Template - sample

PROMISSORY NOTE

For value received, I, Alex Morgan (the BORROWER), promise to pay ____________ (the LENDER), or to whomever the Lender names in writing, the principal sum of 5,000, together with interest at 6% per year on the unpaid balance, on or before 05/10/2026.

Repayment shall be made in instalments as follows: Monthly instalments of 500 starting 01/08/2026

If any payment is not made when due, the Lender may demand the whole unpaid balance at once. I agree to pay the reasonable costs of collecting an overdue amount. I may pay the whole or part of the balance early without penalty.

This note is the Borrower's unconditional promise to pay and is governed by the law of the place where it is signed.

Borrower


Alex Morgan

Date: 05/10/2026

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Promissory Note Template

A promissory note is the simplest evidence of a loan. It names the lender and borrower, the amount, the repayment date and the interest, and is signed by the borrower.

When to use it

  • Rent, sale and loan between individuals
  • Freelance and consulting work
  • Partnerships and shared housing

How to write Promissory Note Template

  1. Write the names and addresses of both parties exactly as on their identity documents.
  2. Fill in the money, dates and duration, and read every clause - delete what does not apply.
  3. Both parties sign every page or the last page; add two witnesses if you want extra proof.
  4. Where your local law requires stamp duty, registration or a notary for this kind of agreement, do that - a template cannot replace it.

Attach with it

  • IDs of both parties
  • Schedules and annexures

Common mistakes

  • No dates or amounts
  • One signature only
  • Skipping witnesses or stamp duty where required

Options you can choose

Tone and salutation, validity statement, ID-copies note, witness boxes, execution note (notary / stamp paper / oath), QR or reference box, four layouts and - in any language except English - a side-by-side English copy.

How to write a Promissory Note Template

  1. Fill in the form: Borrower (name and address), Lender (name and address), Principal amount, Interest rate per year, Repayment date, Instalment terms (if any).
  2. Add your letterhead, logo, footer or watermark if you like.
  3. Download a print-ready PDF - or send it for e-signature.

Agreements & contracts →

FAQ

Does an agreement need to be on stamp paper or notarised?

It depends on the country and the type of agreement. Property, long leases and some loans need stamp duty, registration or a notary. Even where not required, signing in front of witnesses adds proof.

Can I change the clauses?

Yes. Delete what does not apply and add what you agreed. Both parties should initial every change before signing.

What if the other party does not sign?

Then there is no agreement. Get both signatures and keep a copy each.

Is this Promissory Note Template template free?

Yes. You can fill it in online and download it as a PDF for free, without installing anything.

Can I change the wording?

Yes. Every sentence of the document can be edited on the page before you download it.

This is a general template, not legal advice. Check any requirements that apply in your country or organisation.

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