Delaware Promissory Notes
Create a legally compliant Delaware promissory note that complies with state usury limits and includes all required provisions. Choose the note type that fits your lending situation, fill out the guided form, and download your professional PDF for $7.99.
Secured Promissory Note
For loans backed by collateral such as a vehicle, property, or equipment. The lender can seize the collateral if the borrower defaults.
Complies with Delaware usury limits (max 5%). Includes collateral description and default remedies.
Create Secured Promissory NoteUnsecured Promissory Note
For loans based solely on the borrower's promise to pay, with no collateral pledged. Common for personal and family loans.
Delaware statute of limitations: 3 years. Max interest rate: 5%.
Create Unsecured Promissory NoteInstallment Promissory Note
For loans repaid in fixed periodic payments over a set term. Includes a detailed payment schedule with amounts and due dates.
Includes amortization-ready payment terms compliant with Delaware usury law (5% max rate).
Create Installment Promissory NoteDemand Promissory Note
Payable in full when the lender demands repayment. No fixed schedule or maturity date. Common for informal arrangements.
Payable on demand under Delaware law. Includes usury savings clause and default provisions.
Create Demand Promissory NoteDelaware Usury Law and Note Requirements
Delaware usury law is governed by Delaware Superior Courts. The maximum allowable interest rate is 5% (5% above Federal Reserve discount rate). Penalties for exceeding the usury limit include: Forfeiture of all interest. The statute of limitations for enforcing a promissory note in Delaware is 3 years. Notarization is not required but recommended. Our documents are designed to comply with Delaware law and include all required provisions.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Delaware?
Delaware caps the maximum interest rate at 5% (5% above Federal Reserve discount rate). Exceeding this limit may result in penalties: Forfeiture of all interest. Our documents include a usury savings clause for additional protection.
Does a promissory note need to be notarized in Delaware?
Notarization is not legally required in Delaware, but it is strongly recommended. A notarized note is easier to enforce in court and helps verify the identities of all parties. While not required, having 1 witness is recommended.
How much does a Delaware promissory note cost?
Each promissory note costs $7.99. Choose your note type, fill in your details through our guided form, and download your completed, Delaware-compliant PDF instantly. Re-download available for 5 days.
Why is Delaware known for having no usury cap?
Delaware has no general usury cap for written contracts between parties (5 Del. C. §2301) - parties may agree to any interest rate in writing. This is a major reason why major credit card companies (Citibank, JPMorgan Chase) incorporated in Delaware: they can charge any interest rate to cardholders nationwide under the "most favored lender" doctrine. For private promissory notes, Delaware's freedom of contract means your agreed rate is enforceable without a statutory ceiling. Delaware's 3-year statute of limitations applies to written contracts.
Create Your Delaware Promissory Note
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