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South Dakota Promissory Note Templates

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The South Dakota promissory note templates bind a borrower and a lender into a legal deal requiring the borrower of a monetary balance to reimburse the lender in a scheduled and complete fashion. The lender in the transaction makes a profit by receiving interest on top of the original balance.


Secured Promissory Note – Includes a section where the borrower sets aside an item such as a home, vehicle, or boat. This item is given to the lender to help cover the unpaid balance if the borrower is unable to recover after entering into default.

Unsecured Promissory Note – Does not include a section on security. This adds financial risk to the transaction for the lender; it is recommended that the lender is careful in selecting a borrower by ensuring the potential borrower has a strong credit score and positive referrals.

Usury Rate

Under South Dakota law, parties may agree to any interest rate as long as the agreement is in writing. The legal interest rate, if it is not in writing is 12% per year. SD ST § 54-3-16 and SD ST § 54-3-4

How to Write –

Step 1 –  Download the South Dakota note agreement – Provide:

  • The beginning date of the note – dd/m/yy format
  • The borrower’s name
  • Mailing address
  • AND
  • The Lender’s name
  • Mailing address
  • AND
  • Provide the amount of the principal on the note
  • Enter the remaining sum of the annual percentage rate

Step 2 – Payments – Specify:

  • Specify the amount of the note to be paid by the due date
  • Be certain to include accrued interest on unpaid balance

Installments – Submit the final due date of the note in dd/m/yy format

  • Provide the full amount of the note
  • Submit the principal amount of the note agreement
  • Specify the preferred payment frequency, check the appropriate box
  • Provide the amount required for late payments

Step 3 – Security –

  • Check the box indicating the selected type of agreement (secured/unsecured)
  • If the note will be“secured,” describe the property that shall be used as security

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (6A – Security)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Co-signer’s name (if any)
  • Execution
  • Governing Law – (South Dakota State Laws)

Step 5 – Signatures – Submit the following:

  • Lender’s signature
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Borrower’s signature
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Co -Signer’s signature (if any)
  • Signature dated in mm/dd/yyyy format
  • Printed name
  • AND
  • Signature of Witness
  • Signature dated in mm/dd/yyyy format
  • Printed name

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