A New Hampshire promissory note is a document that ensures that a lender is repaid the borrowed amount plus interest by the borrower promptly. For this, both parties must agree on key details like payment methods, interest rates, penalties, and more. Furthermore, these notes are legally binding, requiring signatures from both parties and a witness.
By Type
Usury Laws and Interest Rates
The promissory note must adhere to New Hampshire’s usury laws as outlined in Chapter 336:
- With a Contract (§ 336:1): No limit.
- Without a Contract (§ 336:1): 10%.
- For Judgments (§ 336:1): 2% higher than the interest discount rate on 26-week US Treasury bills.
