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.
Document Type: Microsoft Word
Last Updated: 13-May-2022
SKU: 6510
$2.49
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Canada Demand Note with Floating Interest Rate

Document a loan and protect your rights as a creditor in Canada with this easy-to-use Demand Promissory Note form which provides for floating interest rate.

  • Interest is calculated based on the current prime lending rate of the lender's bank.
  • The loan can be prepaid at any time without penalty or premium.
  • The form can be easily filled in and printed for signature. Use it as many times as you like.
  • This a Canadian legal form template that can be used in any part of the country. A French language version may be required for the Province of Quebec.

To get the Demand Note form, add it to your cart and go through the checkout. Once the transaction is processed, you'll be automatically directed to the download page to get your form.

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