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    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 that is easy to use. Buy the form, download, print, fill in the details and sign.
    Download Type: Microsoft Word
    Last Updated: 26-March-2021
    SKU: 6510
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    Canada Promissory Note for Interest Only


    Secure the repayment of a loan made in Canada with this Promissory Note for Interest Only.

    • This form of Note allows the borrower to make payments against interest only, with no payments to be made against the principal amount until the date specified in the Note.
    • Interest payments will be made in arrears, at regularly scheduled dates.
    • The principal may be repaid at any time without a penalty (fee) being charged.
    This Canada Promissory Note for Interest Only template is in MS Word format, and can be edited as necessary to include all the specifics of your transaction.