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Indiana Unsecured Promissory Note

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Not a blank template — your details are filled in, formatted to Indiana law, and ready to sign.

Build a legally compliant Unsecured Promissory Note for Indiana that contains all required terms under Indiana promissory note law. Fill in your loan details and download your completed, ready-to-sign Unsecured Promissory Note as a professional PDF.

Indiana law governs promissory notes with specific usury limits and enforcement rules that shields both creditor and borrowing party. The usury limit in Indiana is 21% under UCCC. Lenders have 10 years to file suit to collect on a promissory note in Indiana. Indiana law requires 3 specific elements in a valid promissory note.

Indiana Promissory Note Requirements

Max Interest Rate 21%
Rate Details 21% under UCCC
Usury Penalty UCCC remedies only
Statute of Limitations 10 years
Notarization Recommended
Witnesses Recommended (1)
Governing Agency Indiana Circuit Courts
Required Elements Written agreement signed by borrower; Clear repayment terms; Interest rate disclosure

What to Include in a Indiana Unsecured Promissory Note

Every Unsecured Promissory Note in Indiana should include the following important provisions: the full legal names and addresses of both the lender and obligor, the principal loan amount, the interest rate (which must not exceed 21% under UCCC under Indiana law), the repayment schedule and due dates, any late payment penalties, the consequences of default, and the governing law clause.

Indiana requires the following elements in a valid promissory note: written agreement signed by borrower, clear repayment terms, interest rate disclosure.

How to Complete a Indiana Unsecured Promissory Note

To complete a Unsecured Promissory Note in Indiana, start by gathering the necessary information: the full legal names and addresses of both parties, the loan amount, the agreed-upon interest rate (must be at or below 21% under UCCC in Indiana), the repayment terms, and any collateral details if applicable.

Our platform walks you through each section with a guided form tailored to Indiana requirements. Once you have filled in all details, you can preview the document, choose from five professional document styles, and download your completed Unsecured Promissory Note as a PDF.

Frequently Asked Questions

Is a promissory note legally binding in Indiana?
Yes. A properly executed promissory note is a legally enforceable contract in Indiana. To be binding, it must identify both parties, state the loan amount and repayment terms, and be signed by the borrower. While notarization is not required in Indiana, it is recommended to add an extra layer of authenticity. Lenders have 10 years to pursue legal action to collect on a defaulted note.
What is the maximum interest rate for a promissory note in Indiana?
Indiana imposes a usury limit of 21% under UCCC. Charging interest above the legal limit is considered usury and can result in penalties — in Indiana, the consequence is: uccc remedies only.
Do I need a notary for a promissory note in Indiana?
Notarization is not required for a promissory note to be legally valid in Indiana. However, notarizing the document is strongly recommended — it deters forgery claims, simplifies enforcement in court, and makes the note self-authenticating as evidence. Having 1 witness is also recommended.
What happens if the borrower defaults on a promissory note in Indiana?
If the borrower defaults, the lender may demand immediate repayment of the full outstanding balance, charge any default interest rate specified in the note, and pursue legal action in Indiana court. Lenders have 10 years from the date of default to file a lawsuit under Indiana's statute of limitations for written contracts.
What must be included in a Indiana Unsecured Promissory Note?
A valid Unsecured Promissory Note in Indiana must include: Written agreement signed by borrower; Clear repayment terms; Interest rate disclosure. Our platform automatically includes all required elements for Indiana in your generated document, formatted to meet state standards.

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