Oregon Promissory Notes
Create a legally compliant Oregon 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 Oregon usury limits (max 12%). 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.
Oregon statute of limitations: 6 years. Max interest rate: 12%.
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 Oregon usury law (12% 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 Oregon law. Includes usury savings clause and default provisions.
Create Demand Promissory NoteOregon Usury Law and Note Requirements
Oregon usury law is governed by Oregon Circuit Courts. The maximum allowable interest rate is 12% (12% 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 Oregon is 6 years. Notarization is not required but recommended. Our documents are designed to comply with Oregon law and include all required provisions.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Oregon?
Oregon caps the maximum interest rate at 12% (12% 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 9%. Our documents include a usury savings clause for additional protection.
Does a promissory note need to be notarized in Oregon?
Notarization is not legally required in Oregon, 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 Oregon 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, Oregon-compliant PDF instantly. Re-download available for 5 days.
What interest rate limits apply to Oregon promissory notes?
Oregon does not impose a general usury cap for written contracts between private parties - any rate agreed to in writing is generally enforceable (ORS §82.010). If no rate is specified, 9% per year applies as the default. Consumer loans are regulated under Oregon's consumer finance laws with specific rate limits. Oregon's 6-year statute of limitations applies to written promissory notes. Oregon courts may still refuse to enforce unconscionable interest rates.
Create Your Oregon Promissory Note
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