<p data-start="204" data-end="594">The primary difference in SAFE note vs convertible note<strong data-start="230" data-end="277"> (AngelSchool) is that a SAFE (Simple Agreement for Future Equity) is not considered debt, while a convertible note is a debt instrument that converts into equity later. Convertible notes usually include interest rates and maturity dates, whereas SAFE notes are simpler agreements without repayment obligations or accrued interest.