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New Jersey Promissory Note Templates

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The New Jersey promissory note templates are for situations where one individual (called the ‘lender’) plans on lending money to another individual (called the ‘borrower’). The lender profits from the deal by earning interest on top of the original balance of the note.


Secured Promissory Note – Includes a section that requires the parties to agree on an item to be put into security. If the borrower enters into default on the balance and cannot recover, the item in security will be given to the lender to aid in recovering the remaining balance on the note.

Unsecured Promissory Note – Very similar to the secured version, but differs in the fact that there is no section on security. The lender is at a far greater financial risk when using this version because there is no regimented plan for being reimbursed if the borrower cannot make payments on the note. Lenders are strongly recommended to ensure a trustworthy and financially secure borrower is chosen.

Usury Rate

New Jersey statute says, “Except as herein and otherwise provided by law, no person shall, upon contract, take, directly or indirectly for loan of any money, wares, merchandise, goods and chattels, above the value of $6.00 for the forbearance of $100.00 for a year, or when there is a written contract specifying a rate of interest, no person shall take above the value of $16.00 for the forbearance of $100.00 for a year.” NJ ST 31:1-1

How to Write

Step 1 – Begin by downloading a New Jersey note form –

  • Enter the document’s start date, in mm/dd/yyyy format
  • Name of Borrower
  • Mailing address
  • AND
  • Name of Lender
  • Mailing address
  • AND
  • Submit the full amount of the principal of the note
  • Submit the unpaid portion of the annual percentage rate amount

Step 2 – Payments –

  • Enter the total amount of the note, payable on the due date
  • Include any late fees and accrued interest

Installments – Select and check the applicable payement method –

  • Submit the due date in dd/m/yy format
  • Enter the complete note amount
  • Submit the the note’s princial amount
  • Select payment frequency
  • Provide required fee amount for late payments

Step 3 – Security- (check the applicable box)

  • Check the applicable box indicating the type of loan
  • If the note will be“secured,” submit a description of the property used as security

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A.- Security)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Name of Co-signer (if any)
  • Execution
  • Governing Law – (New Jersey state law)

Step 5 – Signatures – Shall be witnessed:

  • Signature of lender
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Signature of borrower in mm/dd/yyyy format
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Signature of any Co-signer(s)
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Signature of Witness (must first witness signatures ) in mm/dd/yyyyformat
  • Printed name

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