AL · PROM-NOTE · Updated July 2026 · Free
Alabama Promissory Note PDF
✓100% FREE PERSONALIZED DOCUMENT
· NO REGISTRATION· NO CREDIT CARD· NO EMAIL REQUIRED· WORD & PDF DOWNLOAD
Alabama at a glance: Usury Limit: 8% per year (loans under $2,000) · Default Legal Rate: 6% per year · Governing Law: Ala. Code § 8-8-1
Path A · Instant Blank Form
Download Blank Template
Get a print-ready template instantly. Best if you want to print and fill the document by hand. No questions, no registration.
✓Effort: Immediate (Manual fill)
✓Formats: DOCX or PDF
Path B · Recommended Choice
Build Personalized Document
Answer simple questions to customize this document. Generates all required clauses, terms, and state-specific details for Alabama.
✦Effort: 5–10 minutes (guided wizard)
✦Outcome: Tailored PDF & editable Word file
✦Feature: Auto-saves in browser, start and stop anytime
Personalize Online →
100% Free · No registration or email required
Overview
Promissory Notes in Alabama
Alabama promissory notes are governed by Chapter 8 of the Alabama Code. The legal rate of interest defaults to 6% per year if not specified, but parties can contract in writing for an interest rate of up to 8% per year for standard loans under $2,000.
For loans exceeding $2,000, there is no statutory limit, provided the rate is agreed to in writing.
Key Facts
Alabama Promissory Note — Quick Reference
| Requirement | Alabama Rule |
|---|---|
| Usury Limit | 8% per year (loans under $2,000) |
| Default Legal Rate | 6% per year |
| Governing Law | Ala. Code § 8-8-1 |
Legal Requirements
Alabama Legal Requirements
- Interest rate cannot exceed 8% per year for loans under $2,000 unless exempt.
- Agreement must be in writing and signed by the debtor.
Governing Laws
Alabama Governing Laws
Ala. Code § 8-8-1
Maximum Interest Rate
Sets the legal rate of interest at 6% and allows up to 8% by written contract.
Read the full text of these laws at Cornell Law School's Alabama legal resources or your state legislature's official website.
Questions & Answers
Alabama Promissory Note — Frequently Asked Questions
What is the usury limit in Alabama?
The limit is 8% per year for loans under $2,000. For loans over $2,000, there is no limit if agreed in writing.