Canada Promissory Note with Monthly Payments, Compound Interest

Set up a series of monthly payments for a borrower under a Promissory Note with this template form for Canada.

• The principal and interest are to be repaid in equal monthly installments.
• Interest is calculated and compounded monthly.
• Any amount of principal and/or interest not paid on time bears interest at the same rate as the loan balance.
• You can use this legal form template anywhere in Canada. A French language version may be required in Québec.

If you're a lender with a Canadian client base, you'll find this Promissory Note form useful for your business. Download it immediately after purchase.