DOWNLOAD this Missouri Promissory Note Form to set up a lendng agreement between a borrower and a lender of funds for a period of time. The parties to the note may contract for a secured agreement or an unsecured agreement and choose how the loan shall be paid back, either in regular payments or with a balloon payment at the end. The parties may specify an interest rate that will be charged.
The maximum rate of interest one can charge is 10% or the market rate, whichever is greater. The market rate is “equal to the monthly index of long term United States government bond yields for the second preceding calendar month prior to the beginning of the calendar quarter plus an additional three percentage points rounded off to the nearest tenth of one percent.” Mo. St. Title XXVI CH. 408.030