A note is a contract by which a borrower promises to repay capital borrowed from a lender. The borrower may promise to pay interest on the loan, in which case the interest obligation is included in the note.

Notes are similar to bonds and debentures in that they are also debt contracts. Notes are often available with longer terms than bonds.

In Switzerland, medium-term notes offered by banks accomplish much the same purpose as the fixed deposits offered by banks in other countries.

More on this topic:
Medium-term note comparison