The Installment Promissory Note details the principle amount of the loan, the rate of interest, the timetable for repayment, and more. The Installment Promissory Note requires the borrower to repay the loan according to a specified monthly payment schedule unt
The Promissory Note: Term requires the borrower to pay back the entire principal amount of the loan on a specific date. Interest payments will be made yearly, and the accrued interest for the year in which the principal amount of the loan is to be paid back,
The Promissory Note (On Demand) details the amount of the loan, terms of the loan, the interest rate, and more. It states that the loan must be repaid upon demand and allows the borrower to repay the loan early without a penalty.