This Promissory Note is used when the borrower is to repay the principal and interest in full, in a single payment (also known as a lump-sum payment) on the date the payment is due.

This Note is often used for a short-term loan or when the borrower and lender want to keep it simple.  The borrower isn't required to make installment payments with this Note.  The Note stipulates that there is no penalty if the borrower repays the loan before the due date.

A completed Promissory Note (Lump-sum Payment With Interest) will include the following information:

1. Date of loan
2. Amount of loan
3. Interest rate
4. Date that repayment is due
5. Name of lender and address where payment is to be sent
6. Name and signature of borrower