Montana Promissory Notes
Create a legally compliant Montana 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.
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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 Montana usury limits (max 15%). 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.
Montana statute of limitations: 6 years. Max interest rate: 15%.
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 Montana usury law (15% 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 Montana law. Includes usury savings clause and default provisions.
Create Demand Promissory NoteMontana Usury Law and Note Requirements
Verified against official Montana usury statutes and Montana District Courts guidance. Last reviewed May 2026. How we verify our legal data.
Montana usury law is governed by Montana District Courts. The maximum allowable interest rate is 15% (15% or 6% above NY prime rate). Penalties for exceeding the usury limit include: Forfeiture of double the interest; twice the interest paid may be recovered within two years (MCA 31-1-108). The statute of limitations for enforcing a promissory note in Montana is 6 years. Notarization is not required but recommended. Our documents are designed to comply with Montana law and include all required provisions.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Montana?
Montana caps the maximum interest rate at 15% (15% or 6% above NY prime rate). Exceeding this limit may result in penalties: Forfeiture of double the interest; twice the interest paid may be recovered within two years (MCA 31-1-108). If no rate is specified, the default legal rate is 10%. Our documents include a usury savings clause for additional protection.
Does a promissory note need to be notarized in Montana?
Notarization is not legally required in Montana, 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 Montana 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, Montana-compliant PDF instantly. Re-download available for 5 days.
What is Montana's usury limit for private loans?
Montana caps interest at the contracted rate in writing, but no rate can exceed 15% per year unless the loan is a business loan between non-consumers (MCA §31-1-107). Consumer loans are subject to the Montana Consumer Loan Act. For a negotiable promissory note, Montana applies the Uniform Commercial Code six-year period (Mont. Code 30-3-118); a non-negotiable written contract runs eight years. Montana's relatively low 15% cap makes it important to clearly document the agreed rate - courts will not enforce rates above the statutory maximum for consumer transactions.
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