North Carolina Promissory Note Templates

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Updated June 13, 2022

A North Carolina promissory note templates are documents designed to assist the lender in a money-lending transaction with earning his or her money back (with the addition of interest) from a borrower in a timely fashion. Sections of the agreement like Late Fees, Interest Rates, and Acceleration help motivate the borrower to ensure all payments are made correctly and in full.

Usury Rate – For loans less for less than $25,000, the maximum is the amount announced on the 15th of each month by the North Carolina Commissioner of Banks. For loans greater than $25,000, the parties may agree in writing to any amount.

LawsN.C. Gen. Stat. § 24-1.1

Types (2)

Secured Promissory Note – The secured version of the template includes a section on security. Security requires the borrower to set aside an item of relative value to that of the loaned amount of money. This item is given to the lender if the borrower enters into default to help cover the remaining outstanding balance.

Download: Adobe PDFMS Word (.docx)OpenDocument



Unsecured Promissory Note – The unsecured version does not include a section on security, substantially increasing the financial risk for the lender. This is because the lender is not guaranteed a reimbursement on his loaned money if the borrower fails to pay back the balance. We recommend the lender in the agreement to only work with family, friends, and those with a strong credit score.

Download: Adobe PDFMS Word (.docx)OpenDocument



Usury Rate

In North Carolina, if the loaned amount is over $25,000, the parties may agree to any interest rate. If it is under $25,000, the parties shall consult the Commissioner of Banks notice published on the 15th of each month for the maximum rate allowed. NC ST § 24-1.1

(Video) What is a North Carolina Promissory Note?

How to Write

Step 1 – Begin by downloading a North Carolina note document –

  • Submit the start date of the document –in mm/dd/yyyy format
  • Borrower’s name
  • Mailing address
  • AND
  • Lender’s name
  • Mailing address
  • AND
  • Submit the principal amount of the note
  • Submit the remaining portion of the annual percentage rate

Step 2 – Payments – Enter the following information:

  • Provide the total amount of the note that would be payable on the stated due date
  • Also include any accrued interest as well as any late fees

Installments – Select the preferred payment method by checking the box preceding the selection

  • Provide the total amount of the note (all inclusive
  • Enter the principal amount on the note
  • Choose a payment frequency from one of the three (3) boxes
  • Submit the agreed amount that is required for late payments

Step 3 – Security-

  • Check the applicable box that would indicat the type of note to be used
  • If the note will be“secured,” Enter the description of property (to be secured)

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A.- Security)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Co-signer’s name (if required
  • Execution
  • Governing Law – (North Carolina state law)

Step 5 – Signatures – Shall be witnessed:

  • Lender’s signature
  • Signature dated – in mm/dd/yyyy format
  • Printed name
  • AND
  • Borrower’s signature
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Signature of the Co-signer(s)
  • Signature dated in mm/dd/yyyy format
  • Print Co – signer’s name
  • AND
  • Signature of Witness (first witness signatures ) in mm/dd/yyyy format
  • Printed name