Promissory Note in Connecticut

A written promise to repay a personal loan, with the amount, interest and payment schedule. States limit how much interest a lender can charge; check your state's rules below before you set the rate.

What Connecticut law says

Maximum interest rate (usury limit)	Connecticut's general usury limit bars lending money at interest greater than 12% a year (pawnbrokers excepted; other exceptions are set elsewhere in the interest chapter). When there is no agreement on the rate, the legal rate is 8% a year. Interest recoverable as damages for late payment in a lawsuit is generally 10% a year. Text from the General Statutes revised to January 1, 2025; check the 2026 Supplement for changes made in 2025. Source: Conn. Gen. Stat. §§ 37-4, 37-1, 37-3a
Time limit to sue on a written contract	6 years for an action on a written contract, a simple or implied contract, or an account. Source: Conn. Gen. Stat. § 52-576(a)

Maximum interest rate (usury limit)

Connecticut's general usury limit bars lending money at interest greater than 12% a year (pawnbrokers excepted; other exceptions are set elsewhere in the interest chapter). When there is no agreement on the rate, the legal rate is 8% a year. Interest recoverable as damages for late payment in a lawsuit is generally 10% a year.

Text from the General Statutes revised to January 1, 2025; check the 2026 Supplement for changes made in 2025.

Source: Conn. Gen. Stat. §§ 37-4, 37-1, 37-3a

Time limit to sue on a written contract

6 years for an action on a written contract, a simple or implied contract, or an account.

Source: Conn. Gen. Stat. § 52-576(a)

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PROMISSORY NOTE

Amount: $[principal amount] Date: [date] Place: [city, state]

For value received, [borrower name], of [borrower address] ("Borrower"), promises to pay [lender name], of [lender address] ("Lender"), the sum of $[principal amount], with interest at [rate]% per year.

Payments: [e.g. $[amount] per month starting [date] until paid in full / one payment of the full amount on [due date]].

Late payment: [late fee or 'none']. Prepayment: Borrower may prepay all or part at any time without penalty.

If Borrower misses a payment for [number] days, Lender may [declare the full balance due].

Borrower signature: ____________________ Date: [date]

[Co-signer signature, if any] [Notary acknowledgment, if you choose to use one]

Promissory Note for other states · Connecticut tenant rights

General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.