Free Promissory Note Generator
Write a free promissory note (loan agreement) in minutes. Enter the borrower, lender, amount, interest, and due date, then download it. Your entries stay on your device.
Write a free promissory note (loan agreement) in minutes. Enter the borrower, lender, amount, interest, and due date, then download it. Your entries stay on your device.
How the Promissory Note works
- Name the borrower and the lender.
- Enter the principal amount and the interest rate.
- Set the due date and the payment terms.
- Name the state, then download or print the note.
State notes
Rules for this document change from state to state. Choose your state in the form above, or read the short notes below for the states where this document is prepared most often.
California
California uses form REG 135 for vehicle bills of sale, signed by buyer and seller. A Los Angeles buyer submits it with the title to the DMV. A smog check usually accompanies the private sale.
Texas
Texas bills of sale should list the VIN, odometer, and sale price for the title. A Houston buyer submits it to the county tax office. Notarization is not mandatory.
New York
New York uses form MV-912 for vehicle registration, and a notary is not mandatory. A Buffalo buyer submits the bill of sale with the title. The sale price supports tax.
Fixed rate versus simple interest
A fixed-rate note states one rate for the whole term. A simple-interest note charges interest only on the unpaid balance, which is usually cheaper for the borrower who pays early.
Staying within the state cap
Each state sets a maximum lawful rate. Charging above it can void the extra interest or, in some states, the whole note. The rate by state is summarized on our promissory note by state page.
Common uses
Lending to a family member
A lender writes a five thousand dollar note at six percent, repayable in twelve monthly payments, with a late fee only after ten days.
Friend-to-friend loan
Two friends document a small loan with a clear due date so there is no confusion about when repayment is expected.
Business bridge loan
A company borrows from a founder with a stated maturity and prepayment right, recorded so the books stay clean.
Important disclaimer
This is a free template for general informational use only. It is not legal advice, and it does not create an attorney-client relationship. Laws vary by state; have a licensed attorney in your state review any document before you sign it.
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Frequently Asked Questions
Is a promissory note legally enforceable?
Yes, a signed note is a real debt obligation. If payments are missed, the lender may pursue collection under state law.
What interest rate can I charge?
You can agree on a rate, but each state caps the maximum. Keep it at or below that limit to avoid usury problems.
Do I need a witness?
Not always, but signatures from both parties are essential, and a witness or notary adds proof of the signing.