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DOWNLOAD this North Carolina Promissory Note Form in order to show an arrangement between two parties loaning and borrowing money.  Within the parameters of North Carolina law, the parties may decide how much interest wil be paid back with the principal and how long the borrower will have to pay back the loan.  There is no penalty for pre-payment with this form.  The parties may decide how the loan will be repaid as well, whether in a balloon payment at the end of the term or with regular payments.


In North Carolina, if the loaned amount is over $25,000, the parties may agree to any interest rate.  If it is under $25,000, the parties shall consult the Commissioner of Banks notice published on the 15th of each month for the maximum rate allowed. NC ST § 24-1.1