An Interest Only Promissory Note is a specialized financial instrument used in Australian lending arrangements where parties wish to structure a loan with interest-only payments during the term. This document is particularly useful for situations where borrowers require capital but prefer to defer principal repayment, such as property development, business expansion, or investment purposes. The note must comply with Australian federal and state legislation, including the Bills of Exchange Act 1909 and relevant consumer protection laws. It typically includes detailed terms regarding the principal amount, interest calculations, payment schedules, default provisions, and enforcement mechanisms. This type of promissory note is commonly used in commercial lending, property development, and investment scenarios where cash flow management is a priority.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of the Lender (Payee) and Borrower (Maker) with full legal names and addresses
2. Background: Brief context of the loan arrangement and acknowledgment of receipt of funds
3. Definitions: Key terms used in the note including 'Interest Rate', 'Maturity Date', 'Principal Sum', 'Interest Only Period'
4. Promise to Pay: Clear statement of the promise to pay the principal sum and interest
5. Principal Amount: Specification of the loan amount in numbers and words
6. Interest Rate and Calculations: Interest rate, calculation method, and payment frequency
7. Payment Terms: Details of interest-only payments and principal repayment at maturity
8. Event of Default: Conditions constituting default and consequences
9. Remedies: Lender's rights and remedies upon default
10. Governing Law: Specification of Australian law as governing law
11. Execution: Signature blocks and execution requirements
1. Security: Details of any collateral or security interests - include when the note is secured
2. Guarantor Provisions: Terms relating to guarantors - include when there are third-party guarantors
3. Prepayment Terms: Conditions for early repayment - include if early repayment is allowed
4. Late Payment Charges: Additional fees for late payments - include if applicable
5. Assignment: Terms for transferring the note - include if the note is intended to be negotiable
6. Notices: Communication requirements - include for more formal arrangements
7. Costs and Expenses: Allocation of legal and enforcement costs - include for larger loans
1. Payment Schedule: Detailed schedule of interest payment dates and amounts
2. Interest Calculation Methods: Detailed explanation of interest calculations and examples
3. Security Details: Description of security or collateral (if applicable)
4. Guarantor Details: Information about guarantors and their obligations (if applicable)
5. Compliance Certificate: Template for periodic compliance certification (if required)
Relevant legal definitions
Business Day
Default Interest Rate
Event of Default
Interest Only Period
Interest Payment Date
Interest Rate
Lender
Maker
Maturity Date
Note
Payment Date
Principal Amount
Principal Sum
Related Entity
Security
Security Interest
Outstanding Amount
Interest Period
Late Payment Fee
Permitted Purpose
Guarantor
Secured Property
Government Agency
Insolvency Event
Material Adverse Effect
Repayment Schedule
Working Capital
Default Interest Rate
Event of Default
Interest Only Period
Interest Payment Date
Interest Rate
Lender
Maker
Maturity Date
Note
Payment Date
Principal Amount
Principal Sum
Related Entity
Security
Security Interest
Outstanding Amount
Interest Period
Late Payment Fee
Permitted Purpose
Guarantor
Secured Property
Government Agency
Insolvency Event
Material Adverse Effect
Repayment Schedule
Working Capital
Clauses
Promise to Pay
Principal Amount
Interest Rate
Interest Calculation
Payment Terms
Interest Only Payments
Principal Repayment
Security
Default
Acceleration
Representations and Warranties
Covenants
Events of Default
Remedies
Notice Requirements
Assignment
Set-Off Rights
Costs and Expenses
Amendment and Waiver
Severability
Governing Law
Jurisdiction
Execution
Guarantee
Further Assurance
Registration and Stamp Duty
Prepayment
Late Payment
Indemnification
Principal Amount
Interest Rate
Interest Calculation
Payment Terms
Interest Only Payments
Principal Repayment
Security
Default
Acceleration
Representations and Warranties
Covenants
Events of Default
Remedies
Notice Requirements
Assignment
Set-Off Rights
Costs and Expenses
Amendment and Waiver
Severability
Governing Law
Jurisdiction
Execution
Guarantee
Further Assurance
Registration and Stamp Duty
Prepayment
Late Payment
Indemnification
Relevant Industries
Financial Services
Banking
Real Estate
Commercial Property
Construction
Small Business
Private Lending
Investment
Professional Services
Agricultural
Relevant Teams
Legal
Finance
Credit
Risk Management
Compliance
Treasury
Loan Operations
Commercial Lending
Corporate Banking
Investment
Business Development
Relevant Roles
Finance Manager
Legal Counsel
Credit Manager
Commercial Loan Officer
Investment Manager
Property Developer
Business Development Manager
Risk Manager
Compliance Officer
Treasury Manager
Financial Controller
Chief Financial Officer
Corporate Lawyer
Banking Executive
Loan Administrator
Find the exact document you need
Promissory Note For Real Estate Purchase
An Australian-compliant financial instrument documenting a buyer's promise to pay for real estate purchase, including payment terms and security interests.
find out more
Promissory Note For Vehicle Purchase
An Australian-compliant promissory note documenting a buyer's legally binding promise to pay for a vehicle purchase, including payment terms and vehicle details.
find out more
Promissory Note
An Australian-compliant financial instrument containing a written promise to pay a specified sum of money under defined terms and conditions.
find out more
Promissory Note For Remaining Balance
An Australian law-compliant financial instrument documenting a promise to pay a remaining balance after initial payment, including specific repayment terms and conditions.
find out more
Hospital Promissory Note
An Australian-compliant promissory note documenting a patient's commitment to pay for hospital services received, incorporating healthcare regulations and payment terms.
find out more
Form Of Secured Promissory Note
An Australian law-governed financial instrument combining a promise to pay with security interests, documenting a secured debt obligation between lender and borrower.
find out more
Promissory Note For Rent Owed
An Australian legal document establishing a tenant's binding promise to pay outstanding rent arrears, governed by federal and state legislation.
find out more
Note Payable Form
An Australian-compliant legal document evidencing a promise to pay a specific sum of money, detailing payment terms and conditions between a borrower and lender.
find out more
Guarantor Promissory Note
An Australian law-governed document combining a promissory note with a guarantee agreement, where a guarantor backs the maker's promise to pay a specified sum to the payee.
find out more
Promissory Note For Services Rendered
An Australian legal document combining a promissory note with acknowledgment of services rendered, providing a binding payment promise governed by federal and state laws.
find out more
Mortgage Note Form
An Australian legal document that establishes the terms and conditions of a property-secured loan between a lender and borrower, compliant with federal and state mortgage regulations.
find out more
Unconditional Promissory Note
An Australian law-governed financial instrument containing an unconditional written promise to pay a specific sum of money, regulated under the Bills of Exchange Act 1909.
find out more
Cash Promissory Note
An Australian-compliant financial instrument containing a written promise to pay a specific sum of money, governed by the Bills of Exchange Act 1909.
find out more
Bill Of Sale With Promissory Note For Automobile
An Australian legal document combining vehicle sale documentation with a promissory note for installment payments, conforming to Australian federal and state vehicle transfer regulations.
find out more
Installment Promissory Note
An Australian law-governed document establishing a formal promise to repay a specified sum through scheduled installment payments, including interest terms and security provisions.
find out more
International Promissory Note
An Australian law-governed formal promise to pay a specified sum in an international context, compliant with the Bills of Exchange Act 1909.
find out more
Simple Promissory Note For Personal Loan
An Australian-compliant promissory note documenting terms and conditions for a personal loan agreement between a lender and borrower.
find out more
Loan Note
An Australian law-governed financial instrument documenting terms of a loan between an issuer and noteholder, including principal, interest, and repayment conditions.
find out more
Unsecured Promissory Note
An Australian law-governed financial instrument documenting an unsecured promise to pay a specified sum of money, with defined repayment terms and conditions.
find out more
Standard Promissory Note
An Australian-compliant financial instrument documenting a formal promise to pay a specified sum of money under defined terms and conditions.
find out more
Promissory Note With Notary
An Australian legal document containing a notarized promise to pay a specified sum of money, governed by federal and state legislation including the Bills of Exchange Act.
find out more
Promissory Note For Delayed Payment
An Australian-compliant financial instrument documenting a promise to pay a specified sum at a future date, governed by federal and state legislation.
find out more
Promissory Letter For Hospital Bill
An Australian-compliant legal document where a patient or guarantor formally commits to paying outstanding hospital bills according to specified terms and conditions.
find out more
Negotiable Promissory Note
An Australian-compliant financial instrument containing a written promise to pay a specified sum, governed by the Bills of Exchange Act 1909 (Cth).
find out more
Hospital Bill Promissory Note
An Australian-compliant promissory note documenting a patient's legally binding commitment to pay outstanding hospital bills according to agreed terms.
find out more
Financial Promissory Note
An Australian law-governed financial instrument documenting a formal promise to pay a specified sum of money, including payment terms and conditions.
find out more
Convertible Promissory Note
An Australian law-governed debt instrument that converts to equity shares under specified conditions, commonly used for startup bridge financing.
find out more
Balloon Promissory Note
An Australian-compliant financial instrument documenting a debt obligation with regular payments and a large final balloon payment, including all terms and conditions of the lending arrangement.
find out more
Shareholder Promissory Note
An Australian law-governed promissory note documenting a company's promise to pay a specified sum to a shareholder, including payment terms and security arrangements.
find out more
Promissory Note With Personal Guarantee
An Australian-law governed financial instrument combining a promise to pay a specified sum with a personal guarantee, establishing primary and secondary payment obligations.
find out more
Promissory Note Secured By A Mortgage
An Australian legal document combining a promissory note with a mortgage security interest, establishing both a promise to pay and a property security arrangement under Australian federal and state laws.
find out more
Promissory Note Repayment Schedule
An Australian legal document that outlines the structured repayment terms of a debt, including payment schedules, amounts, and interest calculations.
find out more
Promissory Note Letter
An Australian law-governed financial instrument documenting a written promise to pay a specific sum of money, including payment terms and conditions.
find out more
Payable On Demand Promissory Note
An Australian law-governed financial instrument containing an unconditional promise to pay a specified sum on demand to the payee.
find out more
Full Recourse Promissory Note
An Australian law-governed financial instrument containing an unconditional promise to pay a specified sum, with full recourse rights against the maker's assets.
find out more
Personal Guarantee On Promissory Note
An Australian law-governed personal guarantee agreement securing a promissory note, establishing the guarantor's commitment to fulfill the debtor's obligations upon default.
find out more
Promissory Note For Business Purchase
An Australian legal document establishing a promise to pay a specified sum for a business purchase, governed by federal and state laws.
find out more
30 Day Promissory Note
An Australian-compliant financial instrument documenting a promise to pay a specified sum within 30 days, governed by federal legislation.
find out more
Interest Only Promissory Note With Balloon Payment
An Australian-governed promissory note featuring interest-only payments with a final balloon payment, incorporating required consumer protection elements and payment terms.
find out more
Business Promissory Note
An Australian-law governed financial instrument documenting a business's written promise to pay a specified sum under defined terms and conditions.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)