Types (2)
Secured Promissory Note – This document sets forth the repayment terms of a loan secured by collateral.
Download: PDF, Word (.docx), OpenDocument
Unsecured Promissory Note – A loan agreement between two (2) parties that is not secured by any form of collateral.
Download: PDF, Word (.docx), OpenDocument
Laws
- Interest & Usury Laws: Chapter 673
- Usury Rate With Contract (excluding pawnbrokers) (§ 37-4): 12%
- Usury Rate Without Contract (§ 37-1): 8%
- Usury Rate for Loans (pawnbrokers only) (§ 21-44): For loans of $15 or less, the usury rate is 5% per month; for loans between $15 and $50, usury rate is 3% per month; and for loans over $50, usury rate is 2% per month.
- Usury Rate for Damages in Civil Actions/Arbitration (§ 37-3a(a)): 10%
- Usury Rate for Damages in Negligence Actions (§ 37-3b(a)): 10%
- Usury Rate for Hospital Services Debt (§ 37-3a(b)): 5%
- Usury Rate for Income Tax Refund Anticipation Loans (§ 42-480(d)): 60% for initial 21 days; 20% after 21 days.
- Usury Rate for Community Residential Facilities Loans (§ 17a-220(9)): 6%