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Louisiana Promissory Note Templates (2)

A Louisiana promissory note template is a document designed to ensure a lender is reimbursed for a loaned amount of money from a borrower within a predetermined time frame. Before the note can go into effect, both parties will need to agree on the terms of the deal, such as payment types, interest rates, and late fees, and sign the document.
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Usury Rate

General usury rate is 12%.

By Type (2)


Secured Promissory Note – Includes security, which is an item or items that are given to the lender in the case of a default on the note. Items typically used as security include homes, vehicles, or boats.

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Unsecured Promissory Note – Does not include security, which puts the lender at a far greater financial risk. To help combat this, the lender should personally know the borrower and ensure he or she has worthy credit.

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Usury Statute

A. Interest is either legal or conventional.

B. Legal interest is fixed at the following rates, to wit:

(1) At the rate fixed in R.S. 13:4202 on all sums which are the object of a judicial demand, whence this is called judicial interest; and

(2) On sums discounted at banks at the rate established by their charters.

C.(1) The amount of the conventional interest cannot exceed twelve percent per annum. The same must be fixed in writing; testimonial proof of it is not admitted in any case.

(2) Except in the cases herein provided, if any person shall pay on any contract a higher rate of interest than the above, as discount or otherwise, the same may be sued for and recovered within two years from the time of such payment.

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