Promissory Note in Nebraska

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 Nebraska law says

Maximum interest rate (usury limit)	The general maximum agreed interest rate is 16% a year on the unpaid principal, unless an exception in § 45-101.04 applies. The legal rate on a loan when no other rate is contracted is 6% a year. Separately, unless otherwise agreed, money due on a written instrument bears interest at 12% a year. If a contract charges more than the maximum, the lender may recover only the principal, without interest, and any interest paid is deducted. A usurious contract is not void. Source: Neb. Rev. Stat. §§ 45-101.03, 45-102, 45-104, 45-105
Time limit to sue on a written contract	5 years for an action on a written agreement, contract or promise. Source: Neb. Rev. Stat. § 25-205(1)

Maximum interest rate (usury limit)

The general maximum agreed interest rate is 16% a year on the unpaid principal, unless an exception in § 45-101.04 applies. The legal rate on a loan when no other rate is contracted is 6% a year. Separately, unless otherwise agreed, money due on a written instrument bears interest at 12% a year. If a contract charges more than the maximum, the lender may recover only the principal, without interest, and any interest paid is deducted.

A usurious contract is not void.

Source: Neb. Rev. Stat. §§ 45-101.03, 45-102, 45-104, 45-105

Time limit to sue on a written contract

5 years for an action on a written agreement, contract or promise.

Source: Neb. Rev. Stat. § 25-205(1)

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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 · Nebraska 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.