Washington Promissory Notes
Create a legally compliant Washington 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 Washington 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.
Washington 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 Washington 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 Washington law. Includes usury savings clause and default provisions.
Create Demand Promissory NoteWashington Usury Law and Note Requirements
Washington usury law is governed by Washington Superior Courts. The maximum allowable interest rate is 12% (12% or 4% above T-bill rate). Penalties for exceeding the usury limit include: Forfeiture of all interest; double penalty. The statute of limitations for enforcing a promissory note in Washington is 6 years. Notarization is not required but recommended. Our documents are designed to comply with Washington law and include all required provisions.
Frequently Asked Questions
What is the maximum interest rate for a promissory note in Washington?
Washington caps the maximum interest rate at 12% (12% or 4% above T-bill rate). Exceeding this limit may result in penalties: Forfeiture of all interest; double penalty. If no rate is specified, the default legal rate is 12%. Our documents include a usury savings clause for additional protection.
Does a promissory note need to be notarized in Washington?
Notarization is not legally required in Washington, 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 Washington 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, Washington-compliant PDF instantly. Re-download available for 5 days.
What is Washington State's usury limit for private loans?
Washington caps interest at 12% per year for written contracts unless the parties agree to a higher rate in writing (RCW §19.52.020). When agreed to in writing, there is no strict statutory maximum for most commercial loans. Consumer loans have additional protections under the Consumer Loan Act. Washington's criminal usury statute applies to rates above 25%. Washington's 6-year statute of limitations applies to written promissory notes.
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