Mississippi Promissory Notes

Create a legally compliant Mississippi 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 Mississippi usury limits (max 10%). 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.

Mississippi statute of limitations: 3 years. Max interest rate: 10%.

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 Mississippi usury law (10% 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 Mississippi law. Includes usury savings clause and default provisions.

Create Demand Promissory Note

Mississippi Usury Law and Note Requirements

Max Interest Rate 10%

Rate Description 10% or 5% above Federal Reserve rate

Default Rate 8%

Penalty for Exceeding Usury Limit Forfeiture of all interest

Statute of Limitations 3 years

Notarization Required Not required (recommended)

Witness Required Not required

Governing Agency Mississippi Circuit Courts

Mississippi usury law is governed by Mississippi Circuit Courts. The maximum allowable interest rate is 10% (10% or 5% above Federal Reserve rate). Penalties for exceeding the usury limit include: Forfeiture of all interest. The statute of limitations for enforcing a promissory note in Mississippi is 3 years. Notarization is not required but recommended. Our documents are designed to comply with Mississippi law and include all required provisions.

Frequently Asked Questions

What is the maximum interest rate for a promissory note in Mississippi?

Mississippi caps the maximum interest rate at 10% (10% or 5% above Federal Reserve rate). Exceeding this limit may result in penalties: Forfeiture of all interest. If no rate is specified, the default legal rate is 8%. Our documents include a usury savings clause for additional protection.

Does a promissory note need to be notarized in Mississippi?

Notarization is not legally required in Mississippi, 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 Mississippi 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, Mississippi-compliant PDF instantly. Re-download available for 5 days.

Create Your Mississippi Promissory Note

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

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