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Promissory note template — fill in and print

Enter the lender, the borrower, the amount, the interest and how it will be paid back to get a promissory note ready to sign, with a governing-state line and two witness lines. Save it as a PDF or Word file. The page also explains when the IRS looks at a low-interest loan between family members.

Rules of

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Blank form

An empty promissory note in English with lines to write on.

Lender

Name

Address

Phone

Borrower

Name

Address

Phone

The loanAmount (dollars)Date lent

Repayment

Due dateLeave it empty if no date was agreed.

InterestRate (% a year)0 for an interest-free loan.Late-payment interest (% a year)Interest added from the day after the due date until paid. Leave empty to leave the clause out.

Paid back by

BankAccount numberAccount holder

Add a joint guarantorSomeone who guarantees the borrower's payments. They sign the note too.Other termsPrinted exactly as typed. The note is in English, so write it in English.Governing law (state)The note says it is governed by this state's law. Leave it unchosen to write the state by hand.Date written

Checks

Amount: —
Interest a year (simple): —

Nothing to flag.

Promissory Note

Principal: $

Date:

For value received, the Borrower named below promises to pay the Lender named below the principal above, on these terms:

Loan.The Lender lent the principal to the Borrower on .
Repayment.No repayment date has been agreed.
Interest.None. This loan is interest-free.
Payment.Payments are made to the Lender's account below.
- Bank:
- Account number:
- Account holder:
Prepayment.The Borrower may prepay all or part of the principal at any time without penalty.
Governing law.This note is governed by the laws of the State of .

Borrower
Name		Phone
Signature
Address
Lender
Name		Phone
Signature
Address
Witness (if required)
Name		Date
Signature

Print two copiesOne for the lender and one for the borrower, each on its own sheet.

A print window opens. Choose “Save as PDF” as the printer to keep a file. The note prints in English.

Promissory notes in the United States

There is no federal form for a promissory note. Whether a note binds is a matter of state law, so the note names the state whose law governs it. The sheet has a witness line in case one is needed.

Family loans at low or no interest: under IRC §7872 (IRS Publication 550), the below-market loan rules do not apply to a gift loan between individuals on any day the loans between them total $10,000 or less, unless the money goes directly to buy income-producing assets. For gift loans up to $100,000, the forgone interest is limited to the borrower's net investment income, and treated as zero if that is $1,000 or less, unless avoiding tax is one of the main purposes.

The applicable federal rate (AFR) those rules use changes every month. For November 2026 (Rev. Rul. 2026-21, annual compounding): short-term 4.67%, mid-term 5.08%, long-term 5.52%. Check the rate for the month you lend in; this page does not print it in the note.

Sources

IRS — Publication 550, below-market loans (IRC §7872)read 2026-10-31
IRS — Rev. Rul. 2026-21, applicable federal rates for November 2026read 2026-10-31

A form, not legal advice. For a dispute, ask a lawyer.

Quick questions

Is there an official promissory note form?

No. There is no federal form; whether a note binds is a matter of state law, so the note names the state whose law governs it. This one has witness lines in case your state needs them.

Do I have to charge interest on a loan to a family member?

Under IRC §7872 (IRS Publication 550), the below-market loan rules do not apply to a gift loan between individuals on any day the loans between them total $10,000 or less, unless the money goes directly to buy income-producing assets. For gift loans up to $100,000, the forgone interest is limited to the borrower's net investment income, and treated as zero if that is $1,000 or less, unless avoiding tax is one of the main purposes.

What is the IRS applicable federal rate for November 2026?

Under Rev. Rul. 2026-21, with annual compounding: short-term 4.67%, mid-term 5.08% and long-term 5.52%. The rate changes every month, so check the one for the month you lend in.

What goes in a promissory note?

The principal, the date, how it is repaid (in full by a date or in monthly installments), the interest, how payments are made, any late-payment interest, the governing state and the signatures. This note also lets the borrower prepay without penalty and can add a guarantor.