Promissory Note with Monthly Payments, Compound Interest | Canada
Set up a series of monthly payments for a borrower under a Promissory Note with this template form for Canada.
- The principal and interest are to be repaid in equal monthly installments.
- Interest is calculated and compounded monthly.
- Any amount of principal and/or interest not paid on time bears interest at the same rate as the loan balance.
- You can use this legal form template anywhere in Canada except the Province of Quebec.
- This form is downloadable, editable and reusable.
Last Updated: 16-July-2021