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.
Interest-Free Demand Promissory Note
Secure repayment of an interest-free loan with this downloadable Demand Promissory Note for principal only (no interest).
- This type of Promissory Note would most commonly be used when the borrower and the lender have a close relationship, such as family members, when no interest would be charged on the loan balance.
- The form is a generic template which can be used anywhere.
- This Demand Promissory Note with No Interest form is available in MS Word format and is easy to use. Just download, fill in with the details of the transaction, and print.
Line of Credit Promissory Note
If you are offering a line of credit to a customer, secure your interest with this Line of Credit Promissory Note form.
- The Note allows for multiple advances, up to a specified maximum amount.
- Interest on the secured amount is simple interest, accruing monthly.
- The Note is secured by a mortgage on the Borrower's property.
- There is no prepayment penalty.
- This is a generic legal template which is not specifically written for any country, state or province.
- This form is provided in MS Word format and is easy to customize.
Balloon Mortgage Promissory Note
Because a balloon mortgage does not amortize over its term, the borrower has to pay a balance at the end of the loan term. Use this Promissory Note template to set out the conditions covering repayment of the mortgage loan.
- The borrower agrees to make monthly payments against the balance, until the date of the final payment.
- The final payment will be a balloon payment which will pay the full amount of principal and interest outstanding at that date.
- The Note is secured by a mortgage on the borrower's property.
- This is a generic legal template which is not specific to any country, state or province.
- Purchase and download the Balloon Mortgage Promissory Note form, use it as often as you need to.
- Available in MS Word format.
Promissory Note for Interest Only | USA
Overview of the Promissory Note Form (for Interest Only)
Securing Loan Repayment
This Promissory Note for Interest Only is designed to provide security for the repayment of a loan. The structure of this note enables the borrower to make payments towards the interest only, with the repayment of the principal deferred until a date specified within the document.
Interest Payment Structure
Under this arrangement, the borrower is required to make interest payments in arrears, following a schedule of regular, predetermined dates. This ensures that interest obligations are consistently met throughout the term of the loan.
Principal Repayment Terms
The principal amount of the loan does not need to be repaid until the specified maturity date outlined in the Note. However, should the borrower wish to repay any or all of the principal before that date, they may do so without incurring any penalties or fees.
Template Format and Customization
The USA Promissory Note for Interest Only is provided in Microsoft Word format. This allows the document to be edited as necessary, so that all the particulars of your transaction can be accurately reflected within the Note.
