DOWNLOAD this Kentucky Promissory Note Form which allows two people to agree to terms for the lending and borrowing of funds for a period of time at a negotiated interest rate. The form also allows the choice of securing the loan with collateral or not.
The legal rate of interest in Kentucky is eight percent (8%) per annum, but parties may agree in writing to an amount not to exceed four percent (4%) in excess of the discount rate on ninety (90) day commercial paper in effect at the Federal Reserve Bank in the Federal Reserve District where the transaction is consummated or nineteen percent (19%), on amounts $15,000 or less. Parties may agree in writing to higher rates of interest if the amount of the loan exceeds $15,000. Ky. Stat. Title XXIX § 360.010