A promissory note is a borrower’s unconditional written promise to pay a specific sum to a lender — principal, interest, repayment terms and a maturity date, signed by the borrower alone. Download the ready-to-fill template below, or read the field-by-field checklist first, including how it differs from a bilateral loan agreement.
A complete, ready-to-fill PDF — 10 clauses, blanks for every detail, and a signature block for each party. Free, no email, no account. Read it and adapt it before you use it; the cover page explains what it can and cannot do for you.
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This document is a general-purpose template provided for information only. It is not legal advice, it does not create a lawyer–client relationship, and nobody has reviewed it against your situation.
Laws differ by country, state and province, and they change. A clause that is standard in one place can be unenforceable — or illegal — in another. Terms that are ordinary between two businesses can be void in a consumer or employment context.
Read every clause before you use it, fill in every blank, and delete anything that does not apply. For anything high-value, unusual, or that you could not afford to lose a dispute over, have a qualified lawyer in your jurisdiction review it before it is signed.
Borrower and lender names and addresses
Full legal name and address for the borrower, who signs the note, plus the lender’s name and address as the payee the promise runs to.
Principal amount
The exact sum being lent — the number every later calculation (interest, installments, payoff) is measured against.
Interest rate, if any
A stated annual rate, or an explicit “0% (no interest)” — leaving it blank is the kind of ambiguity that turns a simple note into a dispute later.
Repayment terms
Lump sum on the maturity date, or installments — state it plainly rather than leaving the schedule to be inferred.
Maturity date
The date the full unpaid balance is due if not paid off earlier.
Late fee and default terms
What happens if a payment is missed — a grace period, a late fee, and the lender’s right to accelerate the full balance on default.
Governing law
Which state’s law governs the note — relevant if it ever needs to be enforced.
Borrower’s signature and date
A promissory note is signed by the borrower alone. There is no lender signature line — the lender’s promise to lend isn’t what this document records.
A promissory note has exactly one signature line: the borrower’s. It records the borrower’s unconditional promise to pay a stated sum, on stated terms — principal, interest if any, a repayment schedule, and a maturity date. The lender doesn’t sign it, because the lender isn’t promising anything the note needs to bind them to; lending the money is what the lender does in exchange for holding the borrower’s promise. That’s why it’s called a note rather than an agreement — it’s the borrower’s instrument, not a mutual one.
A loan agreement is different in kind, not just in length. Because both the lender and the borrower sign it, it can carry obligations that run in both directions: conditions the lender must meet before advancing funds, a security interest pledging collateral, representations and warranties from each side, and a fuller set of events of default and remedies beyond simple acceleration. None of that fits into a document only the borrower signs — which is also why a loan agreement is naturally longer and more detailed than a note.
Use a promissory note for a straightforward loan — one person lends another a sum of money, on agreed terms, with nothing to secure and no conditions to satisfy before the money changes hands. Reach for a loan agreement when the lender needs collateral, covenants, or other obligations the borrower has to actively agree to, not just promise to repay.
Fill in the template above and send it to the borrower for signature with a free Evenseal account — 3 documents a month, no card required. If you’re the borrower and only need your own copy signed, self-sign for free with no account at /sign-pdf.
Not legal advice — interest-rate limits, notarization and enforcement requirements vary by state; check your state’s requirements before relying on this template alone.