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Promissory Note

Consultation on loan terms
Professionally drafted promissory note
Interest calculation guidance
Stamping and execution guidance

1-2 working days

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About This Service

A Promissory Note is a financial instrument defined under Section 4 of the Negotiable Instruments Act, 1881. It is a written promise by one party (maker) to pay a specified sum of money to another party (payee) either on demand or at a specified future date. Our legal team drafts promissory notes that are legally valid and enforceable, covering all essential elements including the unconditional promise to pay, the principal amount, interest rate (if applicable), repayment schedule, and consequences of default. Whether you are lending money to a friend, family member, or business associate, a properly drafted promissory note protects your financial interests and serves as admissible evidence in case of non-payment disputes.

What's Included & Excluded

Inclusions

Consultation on loan terms
Professionally drafted promissory note
Interest calculation guidance
Stamping and execution guidance

Exclusions

Stamp duty charges
Notarization fee
Debt recovery proceedings

How It Works

1
{ "step": 1, "title": "Term Discussion", "description": "We discuss the loan amount, interest rate, repayment schedule, and any special conditions between the parties." }
2
{ "step": 2, "title": "Drafting", "description": "Our legal expert drafts the promissory note with all mandatory elements as required under the Negotiable Instruments Act." }
3
{ "step": 3, "title": "Review & Finalization", "description": "The draft is reviewed for accuracy, shared with you for confirmation, and finalized for execution." }
4
{ "step": 4, "title": "Execution Guidance", "description": "We guide you on stamping requirements (varies by state and loan amount) and proper execution by the maker." }

Documents Required

Please keep the following documents ready before proceeding.

Identity proof of both parties (maker and payee)
Details of the loan amount and terms
Agreed interest rate and repayment schedule
Any collateral details (if applicable)

What You Get

Legally compliant promissory note
Digital copy in PDF format
Stamp duty calculation guide

Frequently Asked Questions

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