The Simple Promissory Note No Interest is a fundamental financial instrument widely used in Pakistan's business and personal transactions. This document type is particularly relevant in Pakistan's legal framework, which recognizes both common law principles and Islamic financial practices. It serves as a legally binding promise to pay a specified sum without interest, making it compliant with Islamic finance principles while maintaining enforceability under the Negotiable Instruments Act 1881. The document is commonly used for personal loans, business financing, or documenting financial obligations between parties who wish to avoid interest-based transactions. It includes essential information such as the amount promised, payment terms, maker and payee details, and execution requirements. The Simple Promissory Note No Interest provides a clear, straightforward method of documenting monetary obligations while respecting religious and cultural preferences regarding interest-free transactions.

1. Promise to Pay: Unconditional promise to pay a specific sum, including the amount in both numbers and words

2. Maker Details: Full legal name, address, and identification details of the person making the promise to pay

3. Payee Details: Full legal name, address, and identification details of the person to whom payment is to be made

4. Payment Terms: Specific date or timeline when the payment is due, including whether it's payable on demand or at a fixed future date

5. Place of Payment: Specified location where the payment should be made

6. Governing Law: Statement that the note is governed by Pakistani law

7. Signature Block: Space for signature, name, and date of execution by the maker