This Simple Promissory Note For Personal Loan is designed for use in Hong Kong when one party (the lender) provides a personal loan to another party (the borrower). It creates a legally binding obligation for the borrower to repay the specified amount according to agreed terms. The document is particularly useful for personal lending situations where a formal record of debt is required but a full loan agreement might be too complex. It includes essential elements such as the loan amount, interest rate, payment schedule, and default provisions, while complying with Hong Kong's Bills of Exchange Ordinance and Money Lenders Ordinance. This type of document is commonly used for personal loans between individuals or small-scale lending situations where simplicity and clarity are prioritized.

1. Promise to Pay: Clear statement of the unconditional promise to pay a specific sum of money

2. Loan Amount: The principal amount of the loan stated in both numbers and words

3. Interest Rate: The agreed-upon interest rate and calculation method

4. Payment Terms: Schedule of payments, including due dates and payment amounts

5. Default Provisions: Consequences of missing payments or defaulting on the loan

6. Signature Block: Space for maker's signature, date, and witness signatures