DOWNLOAD this Washington Promissory Note Form for creating a lending agreement between two people in the State of Washington. The form provides for a choice of whether it will be secured or unsecured as well as a choice of payment plans. In addition, the parties can agree to the interest rate that will be charged provided it is within the requirements of Washington law. This form allows the parties to determine whether or not the money lent will be secured by any form of collateral.
In Washington, “any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) twelve percent per annum; or (b) four percentage points above the equivalent coupon issue yield (as published by the Board of Governors of the Federal Reserve System) of the average bill rate for twenty-six week treasury bills.” WA ST 19.52.020