When lending money for personal reasons, it’s essential to use a clearly written promissory note to protect both parties. Below are five expertly crafted sample notes designed for different personal loan scenarios, including lump sum repayment, installment agreements, interest-bearing loans, and even secured lending.
✅ 5 Sample Promissory Notes for Personal Loans
Sample 1: Personal Loan Promissory Note – Interest-Free, Lump Sum
Date: April 1, 2025
Borrower: Jonathan Miles, 147 Cedar Lane, Nashville, TN 37211
Lender: Olivia Roberts, 210 Pine Circle, Nashville, TN 37212
Loan Amount: $3,000.00
Interest Rate: 0% (No interest charged)
Repayment Terms: Borrower agrees to repay the full amount in one lump sum payment of $3,000.00 by August 1, 2025.
Late Fee: A one-time late fee of $50.00 will apply if payment is more than 10 days late.
Governing Law: State of Tennessee
Borrower’s Signature: ___________________________
Lender’s Signature: ___________________________
Sample 2: Personal Loan Promissory Note – Monthly Installments with Interest
Date: March 15, 2025
Borrower: Alicia Greene, 920 Brookstone Dr, Tampa, FL 33647
Lender: Monica Liu, 450 Sunrise Blvd, Tampa, FL 33613
Principal Amount: $5,500.00
Annual Interest Rate: 6.5%
Repayment Schedule:
12 monthly payments of $482.12 each, due on the 1st of each month beginning May 1, 2025.
Early repayment allowed without penalty.
Late Charges: $25 per missed payment after a 5-day grace period.
Default Clause: Full balance due immediately upon default.
Borrower’s Signature: ___________________________
Lender’s Signature: ___________________________
Sample 3: Secured Personal Loan Promissory Note
Date: January 10, 2025
Borrower: Robert Jenkins, 305 Elmwood Ave, Seattle, WA 98103
Lender: Patrick Fields, 1042 Beach Ave, Seattle, WA 98104
Principal Amount: $8,000.00
Interest Rate: 5% annually
Security: Borrower pledges their 2020 Yamaha Jet Ski, VIN #YAM123456789, as collateral.
Repayment Terms: $400 monthly, beginning March 1, 2025, for 20 months.
Default Terms: If borrower defaults for more than 30 days, lender may claim the collateral.
Jurisdiction: State of Washington
Borrower’s Signature: ___________________________
Lender’s Signature: ___________________________
Sample 4: Personal Loan Between Family Members
Date: February 20, 2025
Borrower: Nicole Perez, 90 Seaside Blvd, San Jose, CA 95112
Lender: Daniel Perez, 102 Garden St, San Jose, CA 95113
Loan Amount: $1,500.00
Interest: None (Interest-free loan)
Repayment Terms: Borrower agrees to repay $500 every two months starting March 20, 2025, until the total is repaid in full by July 20, 2025.
Family Clause: Both parties acknowledge this agreement does not impact their familial relationship.
Governing Law: California
Borrower’s Signature: ___________________________
Lender’s Signature: ___________________________
Sample 5: Personal Loan Promissory Note with Balloon Payment
Date: April 25, 2025
Borrower: Christina Allen, 214 Forest Way, Denver, CO 80205
Lender: Samuel Bennett, 130 Hillcrest Dr, Denver, CO 80203
Loan Amount: $10,000.00
Interest Rate: 7% annually
Repayment Plan:
Monthly interest-only payments of $58.33 for 11 months
Final balloon payment of $10,000.00 due on April 25, 2026
Early Payment Option: Permitted with 30 days written notice
Penalty for Default: 2% of unpaid balance, plus legal costs
Borrower’s Signature: ___________________________
Lender’s Signature: ___________________________
Promissory Note Quiz