Pennsylvania Promissory Notes
Create a legally compliant Pennsylvania 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.
Browse by document type across all states →
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 Pennsylvania usury limits (max 6%). 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.
Pennsylvania statute of limitations: 6 years. Max interest rate: 6%.
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 Pennsylvania usury law (6% 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 Pennsylvania law. Includes usury savings clause and default provisions.
Create Demand Promissory NotePennsylvania Usury Law and Note Requirements
Verified against official Pennsylvania usury statutes and Pennsylvania Courts of Common Pleas guidance. Last reviewed May 2026. How we verify our legal data.
A Pennsylvania promissory note is governed by the state's Loan Interest and Protection Law, which caps interest at 6 percent per year on loans of $50,000 or less where no other rate is legally allowed. Larger loans and certain regulated lenders fall outside the cap.
The same 6 percent serves as the default legal rate. A lender who charges usurious interest can be liable for triple the excess, a claim a borrower must bring within four years. The statute of limitations to enforce the note itself is six years. Our documents include a usury savings clause and record the terms that keep a Pennsylvania note enforceable.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Pennsylvania?
Pennsylvania caps the maximum interest rate at 6% (6% maximum for loans under $50,000). Exceeding this limit may result in penalties: Treble excess interest penalty (usury-recovery claims must be brought within four years). If no rate is specified, the default legal rate is 6%. Our documents include a usury savings clause for additional protection.
Does a promissory note need to be notarized in Pennsylvania?
Notarization is not legally required in Pennsylvania, 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 Pennsylvania 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, Pennsylvania-compliant PDF instantly. Re-download available for 5 days.
What is Pennsylvania's usury limit for private loans?
Pennsylvania's Loan Interest and Protection Law (Act 6) limits consumer loan interest to 6% per year for loans under $50,000 unless made by a licensed lender - though many consumer transactions are exempt by other statutes. For non-consumer business loans between private parties, Pennsylvania courts apply a reasonableness standard. For a negotiable promissory note, Pennsylvania applies the Uniform Commercial Code six-year period (13 Pa.C.S. 3118); a note under seal can run longer. Licensed lenders may charge higher rates under separate licensing laws.
Create Your Pennsylvania Promissory Note
Usury-compliant, professionally formatted, and ready to sign. Download your PDF instantly for $7.99.
Get Started