Demand Promissory Note
A demand promissory note is payable in full whenever the lender requests (demands) repayment. Unlike installment or fixed-term notes, there is no set repayment schedule or maturity date. The borrower must pay the full outstanding balance upon receiving a demand from the lender, typically within a specified notice period. Demand notes are commonly used for informal loans between family members or friends, short-term business arrangements, or lines of credit. Our platform generates demand notes that comply with your state's usury laws and include appropriate notice provisions.
Alabama
Max rate: 8%
Alaska
Max rate: 10.5%
Arizona
No usury cap
Arkansas
Max rate: 17%
California
Max rate: 10%
Colorado
Max rate: 45%
Connecticut
Max rate: 12%
Delaware
Max rate: 5%
🏛️ District of Columbia
Max rate: 24%
Florida
Max rate: 18%
Georgia
Max rate: 8%
Hawaii
Max rate: 12%
Idaho
No usury cap
Illinois
Max rate: 9%
Indiana
Max rate: 21%
Iowa
Max rate: 12%
Kansas
Max rate: 15%
Kentucky
Max rate: 19%
Louisiana
Max rate: 12%
Maine
No usury cap
Maryland
Max rate: 8%
Massachusetts
Max rate: 20%
Michigan
Max rate: 25%
Minnesota
Max rate: 8%
Mississippi
Max rate: 10%
Missouri
Max rate: 10%
Montana
Max rate: 15%
Nebraska
Max rate: 16%
Nevada
No usury cap
New Hampshire
No usury cap
New Jersey
Max rate: 16%
New Mexico
No usury cap
New York
Max rate: 16%
North Carolina
Max rate: 8%
North Dakota
Max rate: 12%
Ohio
Max rate: 8%
Oklahoma
Max rate: 10%
Oregon
Max rate: 12%
Pennsylvania
Max rate: 6%
Rhode Island
Max rate: 21%
South Carolina
Max rate: 8.75%
South Dakota
No usury cap
Tennessee
Max rate: 10%
Texas
Max rate: 18%
Utah
No usury cap
Vermont
Max rate: 12%
Virginia
Max rate: 12%
Washington
Max rate: 12%
West Virginia
Max rate: 8%
Wisconsin
Max rate: 12%
Wyoming
No usury cap
Create Your Demand Promissory Note
Select your state above or use the button to get started. Instant PDF download for $7.99.
Select Your State - $7.99
Usury-compliant rates
State-specific provisions
Instant PDF download