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Mississippi Promissory Note Templates

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The Mississippi promissory note templates are documents that structure and organize the details regarding a loaned amount of money between two parties. Covered in the template are topics such as interest rates, payment types, late fees, and the parties’ personal information. The lender profits from the deal by earning interest on top of the the original balance of the note.


Secured Promissory Note – Protects the lender in the case of a default by allocating a possession of the borrower such as a home, vehicle, or boat to security. This item is guaranteed to the lender if the borrower cannot recover from the default.

Unsecured Promissory Note – Includes all of the aspects of the secured version, but is different in the fact that there is no security section for the parties to complete. This adds considerable risk to the lender, as he or she is not guaranteed a return of the original balance if the borrower defaults on the note.

Usury Rate

Under Mississippi law, the legal rate of interest, unless otherwise agreed is 8% per year, although parties can contract in writing for an interest rate not to exceed 10% per year of 5% over the federal reserve discount rate, whichever is greater. Miss. Code § 75-17-1. Legal rate of interest; finance charges.

How to Write

Step 1 – Begin with the downloading of the Mississippi note form – Submit the required as follows:

  • The Document’s start date in mm/dd/yyyy format
  • The Borrower’s name
  • Mailing address
  • AND
  • Lender’ name
  • Mailing address
  • AND
  • The sum of the principal of the agreement
  • The unpaid sum – annual percentage rate

Step 2 – Payments – Enter the following information:

  • The balance of the note that to be paid in full
  • The amount of all (if any); late fees as well, all accrued interest

Installments –Select the method of payment (by checking the applicable box) – Also enter:

  • The amount that’s payable in full by date due
  • The principal amount of the note
  • Indicate preferred payment frequency
  • Enter the required late payment fee

Step 3 – Security-

  • Check the box stating the type of the note (secured or unsecured)
  • If the document requires that the note would be“secured,” enter information regarding the secured property

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A.)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Submit a Co-signer’s name (if necessary)
  • Execution
  • Governing Law – (will be governed by the laws of the state of Mississippi)

Step 5 – Signatures – Provide signatures before a witness –

  • Lender’s signature
  • Date of signature – in mm/dd/yyyy format
  • Printed name
  • AND
  • Borrower’s signature
  • Date of signature – in mm/dd/yyyy format
  • Print name
  • AND
  • Co-signer’s signature (if required)
  • Date of signature in dd/mm/yyyy format
  • Printed name
  • AND
  • Witness’ signature (one all signatures have been witnesses)
  • Date of witness’ signature in mm/dd/yyyy format
  • Print name

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