Promissory Note for Interest Only | Canada

Secure repayment of a loan with this Demand Promissory Note template for Canada.

This is a simple form of Promissory Note, which is:

• payable on demand,
• accrues interest at a specified rate, and
• can be prepaid without penalty.

You can use this Demand Promissory Note anywhere in Canada. Download the file, fill in the details and print. Use it as often as you need to.

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.

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.

Secure the repayment of a loan with this Term Promissory Note template for Canada.

• The Note allows the borrower to repay the loan amount in regular payments of blended principal and interest.
• The interest is calculated monthly and compounded yearly.
• This is a reusable legal form. Buy it, download it, re-use it as often as you require.
• Available in MS Word format.
• Intended for use only in Canada.

When you lend money, be sure you get paid back. Get the borrower to sign this Promissory Note form for Canada.

• This is a Canadian legal form that can be used anywhere in Canada. Quebec law may require a French language version.
• The borrower agrees to repay the debt in equal monthly payments of combined principal and interest, with the balance due on the maturity date specified in the Note.
• The borrower has the option to prepay the outstanding balance at any time without penalty. No early payment fee or premium will be charged.
• Available in MS Word format. Editable and reusable.