The Non Interest Bearing Promissory Note is a crucial financial instrument in Indian business and personal transactions, governed by the Negotiable Instruments Act, 1881, and related Indian legislation. This document is commonly used when parties wish to formalize a debt obligation without incorporating interest charges, making it suitable for interest-free loans between related parties, short-term business financing, or personal loans. The document must include specific components to be legally valid in India, such as an unconditional promise to pay, a definite sum, proper identification of parties, and appropriate stamp duty payment. It serves as evidence of debt and can be used for enforcement in Indian courts within the limitation period of three years from the due date.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Heading and Date: Clear identification as a 'Non-Interest Bearing Promissory Note' and the date of execution
2. Parties: Full legal names and addresses of the maker (promisor) and payee (promisee)
3. Promise to Pay: Unconditional promise to pay with specified amount in both figures and words
4. Payment Terms: Due date or payment schedule, specifying that no interest is payable
5. Place of Payment: Specific location where payment is to be made
6. Execution: Signature block with maker's signature, name, and date
1. Security/Collateral: Details of any security or collateral provided against the promise to pay, used when the note is secured
2. Co-signers: Details and signatures of any co-signers or guarantors, included when there are additional parties guaranteeing the payment
3. Default Provisions: Consequences of default and remedies available, included when specific default terms are desired
4. Prepayment Terms: Terms allowing early payment of the note, included when prepayment is specifically allowed or restricted
5. Governing Law: Specific jurisdiction governing the note, included when parties are from different states or specific jurisdiction needs to be established
1. Payment Schedule: Detailed schedule of installment payments if applicable, showing dates and amounts
2. Collateral Description: Detailed description of any security or collateral provided, including identification numbers or specific characteristics
3. Witness Details: Names and details of witnesses, if required based on amount or jurisdiction requirements
Find the exact document you need
Construction Promissory Note
An Indian law-compliant promissory note specifically designed for construction-related payments and obligations, governed by the Negotiable Instruments Act and construction regulations.
Download
Straight Note (Real Estate)
An Indian law-governed promissory note secured by real estate property, documenting terms of loan repayment and property security details.
Download
Promissory Note For Lending Money
A legally binding financial instrument under Indian law that documents an unconditional promise to pay a specified sum of money, including loan terms and repayment conditions.
Download
Promissory Note For Housing Loan
An Indian legal document containing a borrower's unconditional promise to repay a housing loan, governed by the Negotiable Instruments Act, 1881.
Download
Promissory Note For Bank Loan
A legally binding financial instrument under Indian law that documents a borrower's promise to repay a specific loan amount to a bank with defined terms and conditions.
Download
Iou Promissory Note
A legally binding financial instrument under Indian law wherein one party promises to pay a specified sum to another party, either on demand or at a fixed future date.
Download
Promissory Note For Real Estate Purchase
An Indian law-compliant promissory note documenting a buyer's promise to pay for real estate property, including payment terms and property details.
Download
Promissory Note
A legally binding financial instrument under Indian law containing an unconditional written promise to pay a specified sum of money to a named party.
Download
Secured Demand Note
An Indian law-governed financial instrument combining a demand promissory note with security arrangements, enabling secured lending with on-demand repayment features.
Download
Promissory Letter For Work
An Indian legal document combining a promissory note with work commitments, governed by Indian contract law and negotiable instruments legislation.
Download
International Promissory Note
An Indian law-governed promissory note for international transactions, containing an unconditional promise to pay a specified sum with cross-border payment provisions.
Download
Loan Note
An Indian law-governed debt instrument documenting loan terms, repayment obligations, and security arrangements between lender and borrower.
Download
Unsecured Promissory Note
An Indian law-governed financial instrument containing an unconditional written promise to pay a specified sum without any security or collateral.
Download
Secured Promissory Note
An Indian law-governed financial instrument combining a promise to pay with security interests in assets, documenting a secured debt obligation with specified payment and enforcement terms.
Download
Promissory Note With Notary
An Indian law-governed notarized financial instrument containing an unconditional written promise to pay a specified sum of money under defined terms.
Download
Promissory Note Seller Financing
A legally binding financial instrument under Indian law documenting a buyer's promise to pay a seller over time, with specified payment terms and conditions.
Download
Note Trust Deed
An Indian law-governed document establishing a trust structure for note issuances, defining the relationship between issuer, trustee, and noteholders.
Download
Shareholder Promissory Note
An Indian law-governed financial instrument documenting a company's promise to pay a specified sum to a shareholder, including payment terms and conditions.
Download
Simple Note Payable Agreement
An Indian law-governed agreement documenting a promise to pay a specified sum of money, with defined payment terms and conditions.
Download
Senior Promissory Note
An Indian law-governed debt instrument containing a senior-ranking promise to pay a specified sum with defined terms and conditions.
Download
Recourse Promissory Note
An Indian law-governed financial instrument containing a written promise to pay a specified sum, with recourse rights against the maker or endorsers in case of default.
Download
Promissory Note Mortgage
An Indian legal instrument combining a promissory note with a mortgage deed, creating both a payment obligation and security interest in real property under Indian law.
Download
Promise To Pay Letter For Rent
An Indian law-compliant formal written commitment from a tenant acknowledging rental dues and promising payment according to a specified schedule.
Download
Note Agreement
An Indian law-governed promise to pay document that creates a legally binding debt obligation between a borrower and lender, including payment terms and conditions.
Download
Interest Only Balloon Note
An Indian law-governed loan document structuring interest-only payments with a final balloon payment, compliant with RBI regulations and Indian Contract Act.
Download
Legal Iou Form
A legally binding debt acknowledgment document under Indian law that records a borrower's promise to repay a specified amount to a lender under defined terms.
Download
Medical Promissory Note
An Indian legal document combining a financial promise to pay with medical service details, governed by the Negotiable Instruments Act and healthcare regulations.
Download
Standard Promissory Note Secured
An Indian law-governed financial instrument containing a promise to pay a specific sum with interest, secured by collateral, creating enforceable rights for the lender over the security in case of default.
Download
Business Loan Promissory Note
An Indian law-governed promissory note documenting a business borrower's unconditional promise to repay a specified loan amount with interest to a lender.
Download
Old Promissory Note
A legally binding written promise to pay a specified sum under Indian law, governed by the Negotiable Instruments Act, 1881.
Download
Multiple Advance Promissory Note
An Indian law-governed financial instrument that enables multiple drawdowns under a single promissory note, combining credit line flexibility with legal enforceability.
Download
Future Advance Promissory Note
An Indian law-governed financial instrument that combines a traditional promissory note with provisions for future monetary advances up to a predetermined maximum amount.
Download
Consolidated Promissory Note
An Indian law-compliant financial instrument that combines multiple promissory notes or debt obligations into a single legally binding document.
Download
Unsecured Demand Promissory Note
An Indian law-governed unsecured financial instrument containing an unconditional promise to pay a specified sum on demand, regulated under the Negotiable Instruments Act, 1881.
Download
Unsecured Promissory Note Issued By A Corporation
An Indian law-governed financial instrument containing a corporation's unconditional promise to pay a specified sum without security.
Download
Promissory Note Letter For Payment
A legally binding financial instrument under Indian law where one party promises in writing to pay a specified sum of money to another party, governed by the Negotiable Instruments Act, 1881.
Download
Credit Card Promissory Note
An Indian law-compliant financial instrument that documents a credit card holder's promise to repay outstanding credit card debt to the issuing bank.
Download
6 Month Promissory Note
An Indian law-governed promissory note containing an unconditional promise to pay a specified sum within six months, structured under the Negotiable Instruments Act, 1881.
Download
Simple Promissory Letter
A legally binding document under Indian law containing an unconditional promise to pay a specified sum of money to a designated party.
Download
Promissory Note With Balloon Payment
An Indian law-governed promissory note featuring regular payments and a larger final balloon payment, structured under the Negotiable Instruments Act, 1881.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)