An Arizona promissory note is a written promise to repay borrowed money. It names the lender, the borrower, the amount, the interest rate and the payment terms. This free Arizona promissory note template covers each of those details and lets you choose an unsecured or a secured loan. In Arizona, interest on most loans is ten percent a year unless the parties contract for a different rate in writing.[1.4]
Last Updated: October 2026. This guide is reviewed and updated regularly to reflect current Arizona law. If you notice an error or outdated information, please contact us.
Build Your Document
Answer a few simple questions to make your document in minutes
Save and Print
Save progress and finish on any device, download and print anytime
Sign and Use
Your valid, lawyer-approved document is ready
A secured promissory note lists collateral, which is property that backs the loan. The form has lines where you describe that property. Collateral can be a vehicle, jewelry or another valuable item the borrower owns. The idea is that the lender has something to fall back on if the loan is not repaid.
An unsecured promissory note has no collateral behind it. The lender relies only on the borrower's promise to repay, so the lender takes on more risk. In practice, people use unsecured notes between family members and close friends who trust each other.
Whichever type you choose, a promissory note usually covers these points:
Many people put any special conditions on an attached page, so the note itself stays short.
Popular Local Promissory Note Forms
A promissory note (sometimes referred to as just note) is a common lending instrument used regularly by many companies and individuals throughout all states as a money source and an alternative to loan providers. Discover more about the most popular US states searched by our users when it comes to promissory note templates.
Arizona sets interest by statute in A.R.S. 44-1201. For any loan other than medical debt, interest is ten percent a year unless a different rate is contracted for in writing. When the parties do contract for a different rate in writing, any rate of interest may be agreed to.[1.1]
For any loan, indebtedness or obligation other than medical debt, interest shall be at the rate of ten percent a year, unless a different rate is contracted for in writing, in which event any rate of interest may be agreed to.
Here are the interest rules in plain terms:
If your note does not state a rate in writing, the ten percent a year rate applies.[1.1] Write the rate you agreed on into the note so both sides see it.
| Document Name | Arizona Promissory Note Form |
| Other Name | AZ Promissory Note |
| Max. Rate | 10% a year, unless a different rate is contracted for in writing. Then any rate may be agreed to.[1.1] |
| Relevant Laws | Arizona Revised Statutes, Section 44-1201 |
| Avg. Time to Fill Out | 10 minutes |
| # of Fillable Fields | 28 |
| Available Formats | Adobe PDF |
The FormsPal Arizona promissory note has 28 fillable fields. Enter the date, the parties, the amount and the interest rate on page 1, choose the payment terms, choose unsecured or secured on page 2, and sign on page 3. Download the PDF above, or build it online with our form builder. You can then fill in and sign the PDF on any device.
The screenshots under each step show the FormsPal Arizona promissory note template filled with sample entries in blue, so you can see where each answer goes. The names, addresses, dates and amounts are examples only.
Page 2 also holds fixed terms with nothing to fill in, such as the late fee, prepayment, governing law and assignment. Read them with the other party before you sign.
A few plain terms appear throughout the form. Knowing what each one means makes the form quicker to complete. It also helps the lender and the borrower read the same document the same way before anyone signs.
Take a few minutes to review the finished form with the other person. A careful read-through helps both sides agree on what the loan terms are, and it catches simple slips such as a wrong name or a missing date before the form is signed.
Arizona sets the interest on a promissory note by statute. On a loan other than medical debt the rate is ten percent a year unless a different rate is contracted for in writing, and then any rate of interest may be agreed to.[1.1] These answers cover the questions people ask most.
Interest on a loan other than medical debt follows two rules:
Write the rate into your note so both sides can see it.
When the parties have not contracted for a different rate in writing, interest is ten percent a year.[1.1]
Yes. The maximum interest rate on medical debt is the lesser of the weekly average one-year constant maturity treasury yield for the calendar week before the consumer was first provided with a bill, or three percent a year.[1.2]
A person who contracts for, reserves or receives, directly or indirectly, a greater sum of value than the law allows must forfeit all interest.[2]
General information, not legal or tax advice.
