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Payday Loans in South Carolina

Compare licensed lenders • Check SC regulations • Apply online

Last updated: June 2026

Max Loan
$550
Cities Covered
0
Legal Status
Legal
Population
5,118,425

South Carolina Payday Loan Regulations

Max Loan Amount:$550
Max Term:31 days
Typical APR:391%
Cooling-Off:None
Rollover Allowed:Yes

Payday loans in South Carolina are regulated by Board of Financial Institutions. Maximum $550.

Important: This information is current as of February 2026. State regulations may change. Always verify with your lender and state regulator before signing a loan agreement.

About Payday Loans in South Carolina

Payday loans in South Carolina are regulated by Board of Financial Institutions. Maximum $550.

South Carolina is located in the South region of the United States with a population of 5,118,425.

Key Regulations:

  • Maximum APR: 391%
  • Maximum loan amount: $550
  • Maximum term: 31 days
  • Rollovers allowed
  • Regulated by South Carolina Board of Financial Institutions

Regulatory Authority: South Carolina Board of Financial Institutions
Official Website: https://www.scconsumeraffairs.gov/bfi

Representative Example APR in South Carolina

Payday and small-dollar loan costs vary by lender, amount, and state rules. The example below shows how fees can translate into APR on a short-term loan.

Loan amount Term Fee per $100 Total repayment Equivalent APR
$500 14 days $15 $575 391%

Example only. Actual APR and total repayment in South Carolina depend on lender pricing, term length, and state compliance limits.

Cities in South Carolina

Browse all 0 city pages in South Carolina

Frequently Asked Questions – South Carolina

Are payday loans legal in South Carolina?
Yes, payday loans are legal in South Carolina. The state is regulated by the South Carolina Board of Financial Institutions, which oversees all payday lenders. Payday loans in South Carolina are regulated by Board of Financial Institutions. Maximum $550.
What is the maximum payday loan amount in SC?
The maximum payday loan amount in South Carolina is $550. Finance charges are capped at Varies by lender. Always verify with your lender before applying.
How long do I have to repay a payday loan in South Carolina?
In South Carolina, payday loans typically have a maximum term of 31 days. Some lenders offer installment loans with longer repayment periods. Check specific lender terms.
Can I have multiple payday loans at once in SC?
Payday loans in South Carolina are regulated by Board of Financial Institutions. Maximum $550.
How do I find licensed payday lenders in South Carolina?
All payday lenders in South Carolina must be licensed by the South Carolina Board of Financial Institutions. You can verify a lender's license at https://www.scconsumeraffairs.gov/bfi. Only work with licensed lenders to protect yourself.
What documents do I need for a payday loan in SC?
Most South Carolina payday lenders require: (1) Valid ID (driver's license or state ID), (2) Proof of income (pay stubs or bank statements), (3) Active checking account, (4) Social Security number, (5) Proof of residence.
What is the typical APR for payday loans in South Carolina?
In South Carolina, the maximum APR is 391%. Actual APR varies by lender and loan amount. Always review the loan agreement for total cost before signing.
Are there alternatives to payday loans in SC?
Yes. Consider: (1) Credit union loans (often lower rates), (2) Payment plans with creditors, (3) Local assistance programs, (4) Employer cash advances, (5) Friends or family loans. Explore all options before committing to a payday loan.

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Important Legal Notice

This information is current as of January 2026 and is for informational purposes only. Payday loan regulations in South Carolina may change. Always verify current regulations with the South Carolina Board of Financial Institutions before applying. Credizen is a comparison platform and we do not directly provide loans.

We may earn commission from lenders when you submit a loan request. This does not affect which lenders you are matched with.

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Rostislav Sikora

AI Orchestrator and loan comparison specialist

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