# Promissory Note Template, Free to Fill Source: https://nerix.ai/templates/promissory-note Put a loan or a promise to pay in writing, with the amount, interest and dates. Before you send it Rules on interest rates, consumer loans, licensing, witnesses and stamp duty differ by country, and some places cap interest. Check them where you and the borrower live, and see a lawyer for a large sum or a loan secured on property. ## Fill it in and preview You are signed in. Fill it in your workspace and it is kept as a document you can send, share and have signed. [Open in your workspace](https://app.nerix.ai/documents/templates/promissory-note) ### Promissory Note **Amount:** CAD 12,000 **Date:** 7 November 2026 **Place:** Toronto ## 1. The promise 1.1 For value received on 1 December 2026 , I, **Daniel Okafor**, of 27 Maple Street, Toronto, Canada ("the Borrower"), promise to pay **Grace Mensah**, of 92 Birch Avenue, Toronto, Canada ("the Lender"), or anyone to whom the Lender transfers this note, the sum of CAD 12,000 ("the Loan"), together with interest as set out below. 1.2 The whole unpaid balance, with any interest and charges due, will be paid in full no later than 1 December 2028 ("the Final Date"). 1.3 Ruth Okafor, of 27 Maple Street, Toronto, Canada ("the Co-signer") also signs this note and is bound together with the Borrower, so that the Lender may ask either of them to pay the whole amount due. ## 2. Interest Interest: 4% a year on the unpaid balance, or none If no interest is written above, the Loan carries no interest. If any interest or charge under this note would be more than the law allows, it is reduced to the highest lawful amount. ## 3. Repayment In 24 equal monthly payments of CAD 521, on the 1st of each month, starting 1 January 2027. Payments are made: By bank transfer to the lender's account, details sent separately . Each payment is applied first to charges, then to interest, then to the Loan. Where a payment date is not a working day, the payment is due on the next working day. The Borrower pays in full, without set-off or deduction. ## 4. Early repayment The Borrower may repay all or part of the Loan at any time without penalty. Interest stops on the part repaid. An early payment is applied to the payments last due, unless the Lender agrees otherwise in writing. ## 5. Late payment A late charge of CAD 25 for any payment more than 10 days late ## 6. Default 6.1 The Borrower is in default if the Borrower does not pay an amount when due and does not put this right within 14 days of written notice from the Lender, or if the Borrower becomes bankrupt or insolvent or makes an arrangement with creditors. 6.2 If the Borrower is in default, the Lender may demand the whole unpaid balance at once, with interest and charges due. The Borrower will also pay the Lender's reasonable costs of collecting it, where the law allows. ## 7. Security The Borrower's car, a 2020 Honda Civic, VIN 2HGFC2F59LH000000, is pledged as security. If no security is written above, this note is unsecured. ## 8. Waiver To the extent the law allows, the Borrower and any Co-signer waive presentment for payment, protest, notice of protest and notice of non-payment. The Lender does not lose a right by delaying to use it, and a waiver by the Lender is valid only in writing and for that occasion. ## 9. Statement of the Borrower The Borrower states that the Borrower is an adult with the legal capacity to sign this note, has read it, has understood it, and has had the chance to take advice before signing. The Borrower states that the Loan has been received on the date given in section 1.1, and that the information the Borrower gave about the ability to repay is true. The Borrower will tell the Lender in writing within 14 days of any change of address while the Loan is unpaid. ## 10. General 10.1 This note is the whole agreement about the Loan. It may be changed only in writing signed by the Borrower and the Lender, and by any Co-signer if the change affects the Co-signer. 10.2 The Lender may transfer this note. The Borrower may not transfer the Borrower's duties under it. If any part of this note cannot be enforced, the rest still applies. 10.3 Notices are in writing and go to the address of the other party in this note, or to a new address given in writing. 10.4 The Borrower will pay any stamp duty or tax that the law places on this note, unless the law requires the Lender to pay it. Each party pays its own costs of preparing this note. 10.5 A copy of this note that is signed and sent electronically is as effective as an original, where the law allows it. If the original is lost, the Borrower will sign a replacement on the same terms at the Lender's request. 10.6 The Lender will mark this note as paid and return it to the Borrower when the Loan is repaid in full. ## 11. Governing law and disputes The parties will first try to settle any dispute by discussing it in good faith for 30 days after one of them gives written notice of it. This note, and any dispute that arises from it, is governed by the law of Ontario, Canada . The place for deciding any dispute under this note is Toronto . How disputes are decided ## Signatures **The Borrower: Daniel Okafor** Signature: ______________ Date: ______________ **The Co-signer: Ruth Okafor, of 27 Maple Street, Toronto, Canada**, signature ______________, date ______________ **The Lender: Grace Mensah** Signature: ______________ Date: ______________ **Witness:** Priya Nair Address: 14 Cedar Court, Toronto, Canada Signature: ______________ Templates are a careful starting point, not legal advice. Where the law matters, check what applies where you are. Money and payments ## What this template is for A promissory note you fill in online: the amount, interest, repayment dates, late payment, early repayment, default and signatures. Download it as Word or PDF. It is free to fill in online, needs no account, and downloads as a Word document or a PDF. [See all Money and payments templates](https://nerix.ai/templates/money) Money and payments ## What you fill in The form asks for 19 details. The document fills itself in as you type. - ### Borrower: name For example: Daniel Okafor - ### Borrower: address For example: 27 Maple Street, Toronto, Canada - ### Lender: name For example: Grace Mensah - ### Lender: address For example: 92 Birch Avenue, Toronto, Canada - ### Amount borrowed For example: CAD 12,000 - ### Interest Write 'no interest' if there is none. For example: 4% a year on the unpaid balance, or none - ### How it will be repaid For example: In 24 equal monthly payments of CAD 521, on the 1st of each month, starting 1 January 2027. - ### Where to pay For example: By bank transfer to the lender's account, details sent separately - ### Date the money is lent For example: 1 December 2026 - ### Date the whole amount must be paid For example: 1 December 2028 - ### If a payment is late For example: A late charge of CAD 25 for any payment more than 10 days late - ### Security for the note (optional) optional Many places need a separate document or registration for security. For example: The Borrower's car, a 2020 Honda Civic, VIN 2HGFC2F59LH000000, is pledged as security. - ### Guarantor or co-signer (optional) optional A person who promises to pay if the borrower does not. The person also signs. For example: Ruth Okafor, of 27 Maple Street, Toronto, Canada - ### Place of signing For example: Toronto - ### Country or state whose law applies For example: Ontario, Canada - ### Place for disputes For example: Toronto - ### How disputes are decided - ### Witness's full name (optional) optional Some places require or recommend a witness who is neither the lender nor the borrower. For example: Priya Nair - ### Witness's address (optional) optional For example: 14 Cedar Court, Toronto, Canada Money and payments ## What is inside The parts of this document, in order. - 1 1. The promise - 2 2. Interest - 3 3. Repayment - 4 4. Early repayment - 5 5. Late payment - 6 6. Default - 7 7. Security - 8 8. Waiver - 9 9. Statement of the Borrower - 10 10. General - 11 11. Governing law and disputes - 12 Signatures Templates ## How it works - 01 ### Fill in Type your details in the form. The document fills itself in as you type; click any gap to jump to its field. - 02 ### Check Read it through. Gaps you have not filled stay marked, so nothing goes out half done. - 03 ### Download Save it as a Word document to edit further, or as a PDF to send or print. ### Make it yours with AI Open it in the chat and ask for changes: shorter, firmer, another situation, another language. [Adapt it with nerix](https://nerix.ai/try?template=promissory-note) ### Was this template helpful? Money and payments ## Questions people ask ### What details does this template ask for? The form asks for 19 details, starting with Borrower: name, Borrower: address, Lender: name, Lender: address, Amount borrowed. 4 more are optional. ### Can I download this template as Word or PDF? Yes. When you have filled in the form, save it as a Word document to keep editing, or as a PDF to send or print. It is free and needs no account. ### Is what I type sent anywhere? No. What you type stays in your browser while you fill in the document. It only goes to nerix if you choose to open the template in the chat. ### What should I check before I use this template? Rules on interest rates, consumer loans, licensing, witnesses and stamp duty differ by country, and some places cap interest. Check them where you and the borrower live, and see a lawyer for a large sum or a loan secured on property. ### Are these invoice and payment templates free? Yes. Each one is free to fill in and download as Word or PDF, with no account. ### What must an invoice include? Your details, the customer's details, an invoice number and date, a description of what was sold, the amount and how to pay. Tax rules differ by country, so add what your local rules require. ### How polite should a payment reminder be? Start friendly and factual, with the invoice number, amount and due date. Only move to firmer wording if the first reminder is ignored. ### Can I use these for a business in any country? Yes. The templates assume no country, and you enter your own currency, tax details and payment instructions. Templates ## More in Money and payments - [Acknowledgement of debt A signed note in which a person or company admits owing a sum and says how and when it will be paid. Money and payments](https://nerix.ai/templates/acknowledgement-of-debt) - [Bill of sale Record a private sale of a car, phone or other item, with the price and condition. Money and payments](https://nerix.ai/templates/bill-of-sale) - [Demand letter for an unpaid invoice Send a firm final demand for an overdue invoice before you take further steps. Money and payments](https://nerix.ai/templates/demand-letter-for-unpaid-invoice) - [Popular Invoice Bill a client clearly with items, tax, total, due date and how to pay. Money and payments](https://nerix.ai/templates/invoice) - [Payment receipt Confirm money received, such as rent or a deposit, with the amount, date and method. 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