Printable IOU Blank Letter


A simple promissory note is a brief document written in simpler terms between two people over a loan or transaction.

Thinking about bailing out family or friends?

With the economy the way it is right now many of us have been asked by family members and friends for loans. When the "I'll pay you back on Friday" does not happen, having a signed loan contract can improve the chances of getting your money back.

A promissory letter or IOU is a written promise made by the borrower to the creditor to pay a certain amount of money on a specific date.

Below you'll find a Simple Promissory Note sample. It's also a Promise to Pay Letter or Printable IOU. Just copy and paste to your word processor, making the changes and corrections necessary.

IMPORTANT: Consult a licensed attorney near you for a more detailed document tailored for your specific needs. It'll have a better chance of holding up in court in case of legal dispute.

PRINCIPAL AMOUNT: $ ____________________ DUE DATE: ___________,_____ of 20___.

On this _______ day of _______________ in the year two thousand and ___________, I, __________________________________ (Borrower’s name) promise to pay to the order of ____________________________________ (Payee’s name) resident of ______________ ________________________________________ City: _____________________________, State: _____ Zip :________

OR its HOLDER to the amount of: ______________________________________ DOLLARS.

Interest at the yearly rate of _____% will be added to the unpaid balance. A late charge of $_____________ Dollars will be added to the principal if payment is not made within _____ days of the due date.

Payable on: __________________ (city) - _____________ (state)


Sample Promissory Note - Long Version

Common terms of a simple promissory note, IOU, promise to pay, loan agreement:

  • Borrower, promisor, obligor - person who receives the money and must pay back the loan.
  • Lender, promisee, obligee - person who lends the money, receives the payments for the loan.
  • Principal, consideration - amount that is lent by the lender to the borrower, the amount that must be paid, the value of the note.
  • Secured Promissory Note - offers collateral to the lender such as, a house, car, personal property.
  • Unsecured Promissory Note - offers NO collateral to the lender.
  • Collateral - property offered in case payment cannot be made.
  • Due date, maturity date - The day borrower must make payment.
  • Security agreement - describes in detail the collateral offered (if it is a car, the make, model, VIN, year, mileage, etc.)
  • Acceleration clause - stipulates that the note’s remaining total becomes due if a payment is missed.
  • Usury laws - dictates the highest amount of interest that may be charged to the borrower, among other regulations.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, D.C., Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.

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DISCLAIMER: The law will vary depending on your state, jurisdiction and the specifics of your case. The information provided by is intended for educational purposes only. The content on this site should NOT be considered professional legal advice or a substitute for professional legal advice. For such services, we recommend getting a free initial consultation by a licensed Attorney in your state.

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