Promissory note for a personal loan – free template (US)
A promissory note records a loan between private people: the amount, the interest, and how and when it will be repaid. Each state caps the interest rate that may be charged (usury laws), so check your state's limit before charging interest. Large interest-free loans can have tax consequences; see the IRS rules on below-market loans.
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Promissory Note
$4,000.00 · Date: October 31, 2026
FOR VALUE RECEIVED, Daniel Reyes, of 905 Elm Avenue, San Antonio, TX 78212 ("Borrower"), promises to pay to Maria Gonzalez, of 1820 Oak Street, Apt 4, Austin, TX 78701 ("Lender"), the principal sum of $4,000.00, without interest.
Payment. Borrower will pay monthly installments of $250.00, beginning on November 30, 2026 and continuing on the same day of each month until the balance is paid in full.
Prepayment. Borrower may prepay all or part of the balance at any time without penalty.
Default. If any payment is more than 30 days late, Lender may give written notice declaring the entire unpaid balance due within 30 days.
Governing law. This note is governed by the laws of the State of Texas.
Created with Pflichtblatt (pflichtblatt.com). General guidance under the law of the United States and the state you selected, legal position as of October 2026. Not legal advice. Please check that it is up to date and fits your situation.
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Questions
Is this template really free?
Yes. Pflichtblatt is free, has no ads, no sign-up and no tracking. Everything you type stays in your browser; the PDF is created on your device.
What does “Usury limits” mean?
Each state caps the interest that may be charged on private loans. Charging more can make the interest unenforceable. Large loans with no or very low interest can also have tax consequences under IRS rules.
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