Promissory Note Generator
Write a clear promissory note in seconds. Enter the borrower, the lender, the amount and the interest rate, and the simple interest, total repayable and monthly payment update as you type. Pick lump-sum or installment repayment, name the governing state, then copy the note, download it as a text file, or print it. Everything runs in your browser, so the names and amounts never leave your device.
How to write a promissory note
- Enter the borrower and lender names, the principal amount, the annual interest rate and the term in months.
- Choose lump-sum or installment repayment, set the date and the governing state, and check the live totals.
- Review the note preview, then copy it, download it as a .txt file, or print it for signing.
Examples
1,000 loan at 12% over 12 months, installments
principal: 1000, annual interest rate: 12%, term: 12 months, repayment: installments
Interest 120.00, Total repayable 1,120.00, Monthly payment 93.33
Frequently asked questions
What is a promissory note?
A promissory note is a written promise by a borrower to repay a set amount of money to a lender on agreed terms. It records the principal, the interest rate, how and when repayment happens, and the maturity date. People use them for personal loans, business loans and IOUs between friends or family.
How is the interest and total calculated?
This tool uses simple interest. Interest equals principal times the annual rate divided by 100, times the term in months divided by 12. The total repayable is principal plus that interest. For installment notes the monthly payment is the total repayable divided by the number of months. For example, 1,000 at 12% for 12 months gives 120 interest, 1,120 total and about 93.33 per month.
Is my information private?
Yes. The whole note is built in your browser with JavaScript. Nothing you type, including names, amounts and the governing state, is uploaded, sent to a server or stored anywhere, so your details stay on your device.
Is this a legal template or legal advice?
This generator produces a plain promissory note template to help you put a loan in writing. It is not legal advice and it is not a substitute for a lawyer. Interest caps, usury limits and signing or notarization rules vary by state and country, so review the result and check local requirements before you rely on it.
What is the difference between lump-sum and installment repayment?
With lump-sum repayment the borrower pays the full amount, principal plus interest, in one payment on or before the maturity date. With installments the borrower pays the total in equal monthly amounts over the term. Switching repayment type updates the wording of the note and shows the monthly payment when relevant.
How do I save, sign or send the note?
Use the Copy button to paste it into an email or document, the Download button to save it as a plain-text .txt file, or the Print button to print it or save it as a PDF through your browser. Both the borrower and lender should sign and date the printed note, and you can have it witnessed or notarized if your jurisdiction requires it.
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