Free Legal Form

Promissory Note

A written promise by a borrower to pay back a loan, with the amount, the interest if any, and when it is due. It is valid even without a notary.

Borrower

Borrower's Full Name

Borrower's AgeIn years, for example 34.

Borrower's Civil Status

Borrower's Address

Lender

Lender's Full Name

Lender's AgeIn years, for example 34.

Lender's Address

The Loan

Amount Borrowed in Pesos

Date the Borrower Received the Money, If Already ReceivedFor example, 8 October 2026. Leave empty if it is received on signing.

Interest Rate, in Words and FiguresFor example, one percent (1%) a month, or twelve percent (12%) a year. Leave empty for no interest.

Payment

When and How Much the Borrower PaysFor example: in full on or before 31 March 2027. Or: in twelve (12) equal monthly instalments of ₱4,500.00 each, every 30th day of the month, starting 30 November 2026.

Where or How Payments Are Made, If You Want to SayFor example, by deposit to the lender's BDO savings account, or in cash at the lender's address against a written receipt.

Days Late Before the Whole Balance Must Be Paid at OnceFor example, fifteen (15).

Penalty for Late Payment, If AnyFor example, one percent (1%) a month on the overdue amount. Leave empty for none. Courts may lower penalties they find unfair.

Where

City or Municipality Where It Is Signed

Notarizing (Optional)

Borrower's Government ID, Only If It Will Be NotarizedFill this in to add the notary's part (the acknowledgment). For example, PhilSys ID No. 1234-5678-9012-3456.

What you type is kept on this device only, so you can come back and finish later. Nothing is sent anywhere. Press Clear to erase it, especially on a shared phone or computer.

PROMISSORY NOTE

FOR VALUE RECEIVED, I, borrower's full name, age years old, Filipino, civil status, and residing at borrower's address, hereinafter called the BORROWER, promise to pay lender's full name, age years old, Filipino, and residing at lender's address, hereinafter called the LENDER, the sum of amount in words (₱amount borrowed), Philippine Currency, which I received from the LENDER as a loan, on the following terms:

Interest. The loan shall earn no interest.
Payment. The BORROWER shall pay the loan payment schedule. The LENDER shall issue a receipt for every payment.
Early payment. The BORROWER may pay all or part of the loan ahead of schedule without any charge.
Default. If the BORROWER fails to pay any amount within number of days days after it falls due, the whole unpaid balance shall at once become due and demandable, at the option of the LENDER.

Signed this ____ day of ______________ 20___ at city or municipality, Philippines.

borrower's full name
Borrower

SIGNED IN THE PRESENCE OF:

Witness

Before You Print

Not legal advice. This is a general form. For your own situation, consult a lawyer, especially if your case is unusual or a lot of money is involved.
It does not need a notary to be valid. Sign it, and keep a signed copy.
Under Article 1956 of the Civil Code, no interest is due unless it is agreed in writing. If you leave the interest empty, the note says the loan earns no interest.
A Promissory Note does not have to be notarized. Notarizing it makes it a public document, which is easier to rely on if you ever have to go to court. The borrower confirms before the notary that they signed it (an acknowledgment). Fill in the borrower's ID below and the notary's part is added.
Keep the signed original with the lender and give the borrower a copy. Write receipts for every payment. See the guide Loans and Promissory Notes.

If you have it notarized, what it usually costs →

For the steps around this document, see the guide Loans and Promissory Notes.

Promissory Note

PROMISSORY NOTE

Before You Print

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