A Utah promissory note is a written promise to repay borrowed money. The borrower and the lender sign it, and it sets the amount, the interest rate and the payment dates. Utah Code lets the parties agree on any rate of interest and sets a 10% yearly rate for a note that names no other rate.[1.1] Fill out the free Utah promissory note template below online, or download the PDF.
Last Updated: October 2026. This guide is reviewed and updated regularly to reflect current Utah law. If you notice an error or outdated information, please contact us.
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The person who lends the money is the lender. The person who receives it is the borrower. A promissory note is either secured or unsecured.
Both types ask for the same information, apart from the collateral in a secured note.
The rules on interest for a Utah promissory note are in Title 15, Chapter 1 of the Utah Code. The borrower and the lender may agree on any rate of interest. If the note names no other rate, the legal rate is 10% per annum.[1.1] A rate that is stated with no time period is counted per year.[1.2]
The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract.
The 10% figure applies only when the note names no other rate. Because the parties may agree on any rate, it is a default and not a limit on what the note can say.[1.1]
In plain words, the borrower and the lender choose the rate and write it into the note. Write the agreed rate as a yearly percentage on the interest line of the form.
The form already says the rate is per annum, so a number such as 8 on the interest line means 8% per year.
| Document Name | Utah Promissory Note Form |
| Other Name | UT Promissory Note |
| Agreed Rate | Any rate of interest the parties agree on[1.1] |
| Default Rate | 10% per annum when the note names no other rate[1.1] |
| Relevant Laws | Utah Code, Section 15-1-1 and Section 15-1-3 |
| Avg. Time to Fill Out | 10 minutes |
| # of Fillable Fields | 28 |
| Available Formats | Adobe PDF |
Popular Local Promissory Note Forms
In case you need to lend or borrow money, think about creating a promissory note form. It’s a useful legal document commonly used by businesses and individuals in many US states. Here are the state promissory note forms our visitors research most often.
The Utah promissory note template is a fillable PDF for a loan between one borrower and one lender. It has fields for the loan terms, the interest rate, the repayment schedule and the signatures. You can complete it on screen, print it and keep a copy for your records.
Before you start, agree the loan amount, the interest rate, the due day and the maturity date with the other party. Then print two copies of the signed note, so the borrower and the lender each keep one.
The Utah promissory note PDF has 28 fillable fields across three form pages. Work through it in order, from the date and principal amount to the two signatures. The six steps below follow the form, and each one shows a Utah promissory note example filled in with sample entries.
The screenshots under each step show the FormsPal Utah 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.
You can fill in the downloaded PDF in our online PDF editor. For a general overview of the document and a template for every state, see our standard promissory note form.
These questions cover the interest rate rules that apply to a Utah promissory note. They explain what rate the borrower and the lender may choose, what rate applies when the note names none, and how a stated rate is counted over time. The answers follow Utah Code Sections 15-1-1 and 15-1-3.
Yes. The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract, including a loan of money.[1.1]
The legal rate is 10% per annum. It applies unless the parties expressly specify a different rate of interest.[1.1]
Interest is calculated at the rate mentioned by the year. This applies when a contract or other instrument mentions a certain rate of interest and states no period of time.[1.2]
Other Promissory Note Forms by State
General information, not legal or tax advice.
