Canada Promissory Note for Interest-Free Loan


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
SKU: 6510
Last Updated: 14-Apr-2016
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This Installment Promissory Note form is for a loan that is backed by collateral belonging to the borrower.

  • The template is for use in Canada only.
  • The principal and interest will be repaid by a series of regular fixed (non-variable) installment payments.
  • The borrower has the option to prepay the Note, but the lender will charge a prepayment premium (fee) if the loan is paid out before the due date.
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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 .....

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.
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