Promissory Note for Interest-Free Loan | Canada
Sometimes when you lend money, you may decide not to charge interest. But you still need to get a promise from the borrower to repay the loan. Get the borrower to sign this Demand Promissory Note for principal only.
- This form is only for use in Canada. It can be used in any province or territory except Québec.
- This type of Promissory Note is most commonly used when the loan is between two persons who have a close relationship, such as family members.
- Because no interest is being charged on the loan, the borrower is only required to pay back the principal amount of the loan.
- The Demand Promissory Note for an interest-free loan is a digital download in MS Word format.
Last Updated: 13-May-2022