25 Personal Loan Promissory Note Template

Written By Anonymous Tuesday, February 26, 2019 Add Comment Edit

Our business and legal templates are regularly screened and used by professionals. In this note a borrower makes a promise to pay the money back to the lender at the pre decided time at the pre agreed interest rate and with the predetermined repayment schedule.

Promissory Note Forms And Instructions

A promissory note is short simple and used for smaller loans.

Personal loan promissory note template. A promissory note or promise to pay is a note that details money borrowed from a lender and the repayment structurethe document holds the borrower accountable for paying back the money plus interest if any. There are 2 types of promissory notes secured and unsecured. It is typically used for personal loans where the borrower and the lender know each other.

Scroll to the bottom for a blank repayment schedule that you can fill in. The promissory note for a personal loan is written evidence which is usually used when a lender is lending to a relative or a friend. While both of them aim to secure the principal amount a loan agreement is more complex than a promissory note.

If time or quality is of the essence this ready made template can help you to save time and to focus on the topics that really matter. A loan agreement is different from a promissory note. We provide this sample personal loan promissory note template to help professionalize the way you are working.

If youre lending to a relative or friend youll want to craft a written agreementthis sample promissory note also available in microsoft word pdf and plain text downloadable files spells out how and when you are to be paid and what happens if the borrower doesnt repay the loan.

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