Massachusetts Promissory Notes

Create a legally compliant Massachusetts 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 Massachusetts usury limits (max 20%). Includes collateral description and default remedies.

Create Secured Promissory Note

Unsecured Promissory Note

For loans based solely on the borrower's promise to pay, with no collateral pledged. Common for personal and family loans.

Massachusetts statute of limitations: 6 years. Max interest rate: 20%.

Create Unsecured Promissory Note

Installment 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 Massachusetts usury law (20% max rate).

Create Installment Promissory Note

Demand Promissory Note

Payable in full when the lender demands repayment. No fixed schedule or maturity date. Common for informal arrangements.

Payable on demand under Massachusetts law. Includes usury savings clause and default provisions.

Create Demand Promissory Note

Massachusetts Usury Law and Note Requirements

Max Interest Rate 20%

Rate Description 20% criminal usury threshold

Default Rate 6%

Penalty for Exceeding Usury Limit Criminal felony; contract voided

Statute of Limitations 6 years

Notarization Required Not required (recommended)

Witness Required Not required

Governing Agency Massachusetts Superior Courts

Massachusetts usury law is governed by Massachusetts Superior Courts. The maximum allowable interest rate is 20% (20% criminal usury threshold). Penalties for exceeding the usury limit include: Criminal felony; contract voided. The statute of limitations for enforcing a promissory note in Massachusetts is 6 years. Notarization is not required but recommended. Our documents are designed to comply with Massachusetts law and include all required provisions.

Create Your Massachusetts Promissory Note

Usury-compliant, professionally formatted, and ready to sign. Download your PDF instantly for $7.99.

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