Tennessee Promissory Notes
Create a legally compliant Tennessee 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 Tennessee usury limits (max 10%). 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.
Tennessee statute of limitations: 6 years. Max interest rate: 10%.
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 Tennessee usury law (10% 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 Tennessee law. Includes usury savings clause and default provisions.
Create Demand Promissory NoteTennessee Usury Law and Note Requirements
Tennessee usury law is governed by Tennessee Circuit Courts. The maximum allowable interest rate is 10% (10% or 4% above prime rate). Penalties for exceeding the usury limit include: Forfeiture of all interest; triple penalty if willful. The statute of limitations for enforcing a promissory note in Tennessee is 6 years. Notarization is not required but recommended. Our documents are designed to comply with Tennessee law and include all required provisions.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Tennessee?
Tennessee caps the maximum interest rate at 10% (10% or 4% above prime rate). Exceeding this limit may result in penalties: Forfeiture of all interest; triple penalty if willful. 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 Tennessee?
Notarization is not legally required in Tennessee, 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 Tennessee 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, Tennessee-compliant PDF instantly. Re-download available for 5 days.
What usury limits apply to private promissory notes in Tennessee?
Tennessee caps interest at 10% per year as a default, but parties may agree in writing to any rate up to 24% per year for most loans (T.C.A. §47-14-103). Rates above 24% are subject to Tennessee's usury penalty - forfeiture of all interest and a fine equal to twice the interest charged. Tennessee's 6-year statute of limitations applies to written contracts. Business loans between sophisticated parties may have more flexibility under Tennessee's commercial lending statutes.
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