South Carolina at a glance
- Personal loansAllowed 18% APR
- Installment loansAllowed 18% APR
- Emergency loansAllowed 18% APR
- Payday loansAllowed Fee cap
- Title loansAllowed No numeric cap
Loan options in South Carolina
Every loan type we cover is listed, including the ones South Carolina law does not allow, so you can see why and what else can work.
- Personal loansAllowedA lump sum you repay in fixed monthly payments. See what your state allows and what a loan can cost.
- Installment loansAllowedFixed payments over months, not weeks. See your state's rate limits and a worked cost example.
- Emergency loansAllowedMoney for an urgent bill, usually a smaller installment loan. Check your state's limits before you borrow.
- Payday loansAllowedA short loan usually due in one payment on your next payday. Allowed in fewer states, so read the fee limits first.
- Title loansAllowedA loan secured by your car title. Allowed in fewer states, and your car is at risk if you cannot repay.
Other ways to borrow
- Credit union payday alternative loans: small loans from federal credit unions with an APR capped at 28% under NCUA rules. (12 CFR 701.21)
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
- Payment plans: many utilities, hospitals and lenders offer hardship plans if you ask before you miss a payment.
What a loan can cost in South Carolina
Worked examples at an illustrative rate, never above South Carolina's rate cap for that loan amount where the law sets one. They are examples, not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 18%
- Repayment
- 12 monthly payments
- Payment
- $45.84
- Finance charge
- $50.08
- Total of payments
- $550.08
Example: a $500 installment loan at 18% APR repaid in 12 monthly payments of $45.84 costs $550.08 in total, including a finance charge of $50.08. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 18%
- Repayment
- 12 monthly payments
- Payment
- $91.68
- Finance charge
- $100.16
- Total of payments
- $1,100.16
Example: a $1,000 installment loan at 18% APR repaid in 12 monthly payments of $91.68 costs $1,100.16 in total, including a finance charge of $100.16. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $3,000
- Annual percentage rate (APR)
- 18%
- Repayment
- 12 monthly payments
- Payment
- $275.04
- Finance charge
- $300.48
- Total of payments
- $3,300.48
Example: a $3,000 installment loan at 18% APR repaid in 12 monthly payments of $275.04 costs $3,300.48 in total, including a finance charge of $300.48. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in South Carolina
Free and low-cost places to turn in South Carolina, each linked to its official source and dated when we last checked it.
Lending regulator and complaints
South Carolina State Board of Financial Institutions, Consumer Finance Division (Office of the Commissioner of Consumer Finance) licenses lenders in South Carolina. Check a lender's license here, and file a complaint if something goes wrong.
Check a lender's license File a complaint
consumerfinance.sc.gov Checked September 23, 2026
Attorney general consumer protection
The attorney general's consumer protection office takes complaints about scams, unfair debt collection and other business practices.
scag.gov Checked September 23, 2026
211
Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.
sc211.org Checked September 23, 2026
Legal aid
Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.
sclegal.org Checked September 23, 2026
Nonprofit credit counseling
Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.
nfcc.org Checked September 23, 2026
Benefits portal
The official site for checking whether you qualify for food, cash or other benefits in South Carolina, and for signing up.
benefitsportal.dss.sc.gov Checked September 23, 2026
Federal complaints
Submit a complaint about any lender to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in South Carolina.
The rules lenders follow in South Carolina
These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.
Allowed in South Carolina: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3] | Allowed | 18% APR | Not set by statute | Not set by statute | Restricted lender license under the SC Consumer Finance Act | S.C. Code Ann. Sections 37-3-201, 37-3-305, 37-3-501; S.C. Code Ann. Title 34, Chapter 29 |
| Title loans[1][4] | Allowed | No numeric cap | Not set by statute | 30 days to 8 months | Supervised lender license | S.C. Code Ann. Section 37-3-413; Section 37-3-201 |
| Payday loans[5][4] | Allowed | Fee cap | Up to $550 | Up to 31 days | Deferred Presentment Services license under S.C. Code Title 34, Chapter 39, a separate... | S.C. Code Ann. Section 34-39-180; Section 34-39-130 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.
Rate, fee and license rules in South Carolina
Installment and personal loans
- Rate cap
- South Carolina Consumer Protection Code, 37-3-201: a loan is a 'supervised loan' once its finance charge exceeds 12% per year (unsupervised max is 12%/yr). Supervised lenders may charge up to 18% per year on unpaid balances for any loan amount, or, for loans under $600, a rate tied to the Consumer Finance Act schedule (34-29-140) or a filed rate, whichever is lower; for loans over $600, the lender's own filed rate schedule governs.
- Fees
- Rate/fee schedules must be filed and posted with the SC Dept. of Consumer Affairs (37-3-305); a creditor that fails to file is capped at 18% APR.
- License
- Restricted lender license under the SC Consumer Finance Act (S.C. Code Title 34, Chapter 29) for loans under $600 at higher rates; supervised lenders generally must file a maximum rate schedule with the Dept. of Consumer Affairs under 37-3-305.
Title loans
- Rate cap
- Regulated as 'short-term vehicle secured loans' under 37-3-413, layered on the general supervised-loan finance-charge rules (37-3-201). No separate title-loan-specific APR ceiling number was found in the section read; loans in this category are marketed and disclosed as 'higher interest' (required notice) and no interest may accrue after the sixth renewal.
- License
- Supervised lender license (S.C. Code Title 37, Chapter 3) covering short-term vehicle-secured loans.
Payday loans
- Rate cap
- No flat APR cap; South Carolina Deferred Presentment Services Act caps the fee instead. A licensee may not charge a fee or other consideration exceeding 15% of the principal amount of the transaction (S.C. Code 34-39-180(E)). This chapter is expressly exempt from other state interest/fee/loan-charge statutes.
- Fees
- Fee capped at 15% of the principal amount advanced per transaction (34-39-180(E)).
- License
- Deferred Presentment Services license under S.C. Code Title 34, Chapter 39, a separate license required per location.
Money snapshot for South Carolina
Guides for South Carolina borrowers
Check your options in South Carolina
South Carolina questions
Does South Carolina law allow payday loans?
South Carolina law allows payday loans. State law caps the fee rather than the APR. Source: S.C. Code Ann. Section 34-39-180; Section 34-39-130.
What is the most a lender can charge in South Carolina?
By loan type in South Carolina: Installment and personal loans: 18% APR. Title loans: No numeric cap. Payday loans: Fee cap.
Where can I file a complaint about a lender in South Carolina?
You can file a complaint with South Carolina State Board of Financial Institutions, Consumer Finance Division (Office of the Commissioner of Consumer Finance), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in South Carolina on this page.
How do I check a lender's license in South Carolina?
South Carolina State Board of Financial Institutions, Consumer Finance Division (Office of the Commissioner of Consumer Finance) licenses lenders in South Carolina. Use the license link under Resources in South Carolina on this page to check a lender before you share your information.
Is there free help paying bills in South Carolina?
Yes. Resources in South Carolina on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Can I get a loan in South Carolina with a 500 credit score?
Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.
Nearby states
- North CarolinaAllowed 33% APR (top tier)
- GeorgiaAllowed 60% APR
- VirginiaAllowed 36% APR
- West VirginiaAllowed 31% APR (top tier)
- TennesseeAllowed 24% APR
Sources
- scstatehouse.gov. S.C. Code Ann. Sections 37-3-201, 37-3-305, 37-3-501. Retrieved September 23, 2026.
- consumer.sc.gov/licensee-lookup. Retrieved September 23, 2026.
- consumer.sc.gov. South Carolina Department of Consumer Affairs (rate filings, supervised lenders); Office of the Commissioner of Consumer Finance (restricted lenders under.... Retrieved September 23, 2026.
- consumerfinance.sc.gov. South Carolina State Board of Financial Institutions, Consumer Finance Division. Retrieved September 23, 2026.
- scstatehouse.gov. S.C. Code Ann. Section 34-39-180. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: South Carolina. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
Illustrative range for installment loans in South Carolina: APRs from 5.99% to 18%, where the state APR cap is 18%. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
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- Questions about a lender licensed in South Carolina? Contact the South Carolina Department of Consumer Affairs (rate filings, supervised lenders); Office of the Commissioner of Consumer Finance (restricted lenders under Title 34-29) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.