Create Document - $7.99
How It Works States Document Types Tools Guides Blog About Create Document - $7.99

Ohio Demand Promissory Note

Create Ohio Demand Promissory Note - $7.99

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

Draft a legally valid Demand Promissory Note for Ohio that features all required terms under Ohio promissory note law. Fill in your loan details and download your completed, ready-to-sign Demand Promissory Note as a professional PDF.

Ohio law governs promissory notes with specific usury limits and enforcement rules that protects both lender and obligor. The usury limit in Ohio is 8% maximum. For a demand note in Ohio, the 6-year limitation period runs from the date demand for payment is made. Ohio law requires 3 specific elements in a valid promissory note.

Ohio Promissory Note Requirements

Max Interest Rate 8%
Rate Details 8% maximum
Usury Penalty Usurious interest paid is applied to reduce the principal (Ohio Rev. Code 1343.04)
Statute of Limitations 6 years
Notarization Recommended
Witnesses Recommended (1)
Governing Agency Ohio Common Pleas Courts
Required Elements Written agreement signed by borrower; Demand notice period; Interest rate disclosure

Ohio Demand Promissory Note Signing Checklist

Print this or save it as a PDF and use it at the signing. Review every item before any party puts pen to paper.

Before you sign

  • Both the lender and borrower read the full note before signing.
  • Confirm the principal amount, interest rate, and repayment terms match what was agreed.
  • Confirm any late fee amount and grace period are correct.
  • The lender keeps the original signed note in a safe place.
  • Each party keeps a signed copy for their own records.

Ohio rules to know

  • Keep the interest rate at or below Ohio's usury cap of 8% per year (8% maximum).
  • Notarization is not required in Ohio but is strongly recommended. A notarized note is self-authenticating in court and harder to dispute.
  • 1 witness is recommended in Ohio even though not legally required.
  • In Ohio, the lender has 6 years from the date demand is made to file suit to collect.

In the note itself

  • Borrower's full legal name and current address.
  • Lender's full legal name and current address.
  • Principal loan amount written out in both numbers and words.
  • Annual interest rate (expressed as a percentage).
  • A statement that repayment is due upon the lender's written demand.
  • Late fee amount and grace period, if any.
  • Signatures of both parties (and witnesses if required).
  • Minimum notice period before repayment must be made (e.g., 30 days), if the parties agreed to one.

This checklist is a reference aid only. Consult an attorney for advice specific to your situation. Usury and enforcement rules for Ohio may change; verify current rates before signing.

What to Include in a Ohio Demand Promissory Note

Every Demand Promissory Note in Ohio should include the following necessary provisions: the full legal names and addresses of both the creditor and borrowing party, the principal loan amount, the interest rate (which must not exceed 8% maximum under Ohio law), the repayment schedule and due dates, any late payment penalties, the consequences of default, and the governing law clause. A demand note should clearly state that repayment is due upon the lender's written demand, with any minimum notice period the parties have agreed to before demand is made.

Ohio requires the following elements in a valid promissory note: written agreement signed by borrower, demand notice period, interest rate disclosure.

How to Complete a Ohio Demand Promissory Note

To complete a Demand Promissory Note in Ohio, 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 8% maximum in Ohio), the repayment terms, and any collateral details if applicable.

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

Frequently Asked Questions

What is the maximum interest rate for a promissory note in Ohio?
Ohio caps interest at 8% maximum. Charging above the legal limit is usury - in Ohio, the penalty is: usurious interest paid is applied to reduce the principal (ohio rev. code 1343.04). Always confirm the current rate with an attorney, as usury laws can change.
Do I need a notary for a promissory note in Ohio?
Notarization is not required in Ohio for a promissory note to be legally valid. Notarizing it anyway is strongly recommended - it deters forgery claims, simplifies court enforcement, and makes the note self-authenticating as evidence. Having 1 witness is also recommended.
What happens if a borrower defaults on a promissory note in Ohio?
Upon default, the lender may demand immediate repayment of the full outstanding balance, charge any default interest rate specified in the note, and file suit in Ohio court. For a demand note, the 6-year limitation period runs from the date demand for payment is made.
How much notice must a lender give before demanding repayment in Ohio?
A demand promissory note is due whenever the lender demands repayment - there is no fixed maturity date. The amount of notice required depends on what is written in the note itself; if no notice period is specified, repayment may be demanded immediately. Many demand notes include a minimum notice period (e.g., 30 days) as a courtesy term. In Ohio, lenders have 6 years from when demand was first due to file suit.
What is the difference between a demand note and an installment note?
A demand promissory note has no fixed repayment schedule - the lender can call the loan at any time. An installment note has a set schedule of regular payments over a defined period. Demand notes are common for informal loans between family or friends, while installment notes are more common for larger, structured loans. Demand notes give lenders more flexibility but give borrowers less certainty.
What must be included in a Ohio Demand Promissory Note?
A valid Demand Promissory Note in Ohio must include: Written agreement signed by borrower; Demand notice period; Interest rate disclosure. Our platform automatically includes all required elements formatted to Ohio standards.
What interest rate can I charge on a private promissory note in Ohio?
Ohio caps interest on written contracts at 8% per year unless a higher rate is agreed to in writing (Ohio Revised Code §1343.01). When a rate is agreed to in writing, there is no strict statutory maximum for commercial loans - courts apply a reasonableness standard. Consumer loans have additional protections under the Ohio Consumer Sales Practices Act. Ohio's 6-year statute of limitations applies to written promissory notes.

Ready to Create Your Ohio Demand Promissory Note?

State-compliant interest rate limits, all required terms, and professional formatting included. Download your PDF instantly.

Create Ohio Demand Promissory Note - $7.99
Usury-compliant rates State-specific provisions Instant PDF download