Promissory Note in Nevada

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 Nevada law says

Maximum interest rate (usury limit)	Nevada has no general usury cap for private loans: parties may agree to any interest rate, compounding, and other charges, but must state the agreed rate in writing. When there is no written contract fixing a rate, the legal rate is the prime rate at the largest bank in Nevada (as set by the Commissioner of Financial Institutions) plus 2 percent, adjusted each January 1 and July 1. A separate cap (the lesser of 36% APR or the federal maximum) applies to consumer credit extended to covered service members and their dependents; a contract violating it is void and unenforceable (NRS 99.050(2)). Source: NRS 99.040, 99.050
Time limit to sue on a written contract	6 years for an action on a contract, obligation or liability founded on a written instrument. Source: NRS 11.190(1)(b)

Maximum interest rate (usury limit)

Nevada has no general usury cap for private loans: parties may agree to any interest rate, compounding, and other charges, but must state the agreed rate in writing. When there is no written contract fixing a rate, the legal rate is the prime rate at the largest bank in Nevada (as set by the Commissioner of Financial Institutions) plus 2 percent, adjusted each January 1 and July 1.

A separate cap (the lesser of 36% APR or the federal maximum) applies to consumer credit extended to covered service members and their dependents; a contract violating it is void and unenforceable (NRS 99.050(2)).

Source: NRS 99.040, 99.050

Time limit to sue on a written contract

6 years for an action on a contract, obligation or liability founded on a written instrument.

Source: NRS 11.190(1)(b)

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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 · Nevada 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.