Idaho Unsecured Promissory Note Template

The Idaho Secured Promissory Note Template is a legal document that is entered into by two parties – a lender/borrower. The form serves to establish the details/terms of a loan (e.g. principal sum, interest rate information, payment method, etc.). What separates an unsecured promissory note from a secured note, is that the unsecured note does not have any backing from the borrower (i.e. pledged assets/collateral). Use the links near the top of this page to get the template in .PDF or Word format.

How to Write

Step 1 – Download the document.

Step 2 – On the first page submit the following details (within the first paragraph):

  • Date of agreement
  • Name of borrower (full legal name)
  • Address of borrower
  • Lender’s name
  • Address of lender
  • Principal sum of the note
  • Per annum interest rate (in accordance with Idaho State law).

Step 3 – Payments – The payment method must be selected by checking off the appropriate box (next to the payment method). Select the method from the following options:

  • No Installments
  • Installments (must include the payment amount)
  • Interest Only

Note: If the payment method is “Installments” or “Interest Only,” the payment schedule/due date must be submitted:

  • Enter the monthly OR weekly due date details.

Step 4 – Due Date:

  • Provide the due date (of the full principal sum – plus additional fees/interest).

Step 5 – Interest Due in Event of Default: Should the borrower default on the loan, the interest rate submitted in this subsection will be applied to the balance.

  • Enter the interest rate.

Step 6 – Late Fees:

  • Submit the amount of time (enter it in days) that the borrower will have to make a payment (after the first due date). If the borrower does not make the payment within this time frame, the lender has the right to apply a late fee to the account.
  • Provide the agreed upon late fee.

Step 7 – Acceleration:

  • When the borrower defaults on the loan, they will have a certain amount of time to “cure” the default before the lender can demand the full balance of the loan due immediately.
  • Provide the number of days in the allotted input field.

Step 8 – Signatures:

  • Provide the date.
  • The lender/borrower are required to provide their printed name, and their signatures.
  • The witnesses must print/sign their names in the appropriate input fields on the bottom of the last page.
Idaho Unsecured Promissory Note - Adobe PDF - Microsoft Word

Idaho Unsecured Promissory NoteAdobe PDFMicrosoft Word

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