DOWNLOAD this Montana Promissory Note Form for the documentation of a promise to pay back funds lent over a period of time at a specified rate of interest. The funds may be paid with regularly scheduled payments or with a large payment at the end of the term. The loan may be paid early without penalty. The parties may agree to have the loan secured with collateral or decide to leave it unsecured.
The legal rate of interest in Montana is 10% per year. The interest rate may not exceed the greater of 15% per year or 6% per year over the prime rate published by the federal reserve. MT ST 31-1-107