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Canadian Legal Forms > Promissory Notes & Loan Agreements > Promissory Note - Monthly Payments w/ No Interest
Promissory Note - Monthly Payments w/ No Interest
When a person or entity (“Lender”) loans money to another person or entity (“Borrower”), the loan is typically formalized with a promissory note. A promissory note will set forth, among other things, the repayment schedule and the interest rate.
This particular Promissory Note requires the Borrower to pay off the principal amount of the note in equal monthly payments. This is a no interest loan.
See form: Promissory Note - Monthly Payments w/ No Interest
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