Download the Alaska promissory note form that is used as a loan agreement between an individual advancing money to someone else in return for interest and their funds paid back within an agreed upon time-frame.
Under Sec. 45.45.010, the rate of interest in the state is 10.5 percent a year and no more on money after it is due except as provided in (b) of this section. (b) Interest may not be charged by express agreement of the parties in a contract or loan commitment that is more than five percentage points above the annual rate charged member banks for advances by the 12th Federal Reserve District on the day on which the contract or loan commitment is made. A contract or loan commitment in which the principal amount exceeds $25,000 is exempt from the limitation of this subsection.