DOWNLOAD this West Virginia Promissory Note Form to establish an agreement to lend and borrow money between West Virginia residents. The note form allows pre-payment of the loan without penalty as well as a choice as to whether or not collateral will be used to secure the loan. The parties may also negotiate the method of repayment and the term of the loan.
The legal rate of interest in West Virginia is 6% per year when there is no written agreement between the parties. The maximum amount of interest allowed with a written agreement is 8% per year. WV ST § 47-6-5