South Dakota at a glance
- Personal loansAllowed 36% APR
- Installment loansAllowed 36% APR
- Emergency loansAllowed 36% APR
- Payday loansAllowed 36% APR
- Title loansAllowed 36% APR
Loan options in South Dakota
Every loan type we cover is listed, including the ones South Dakota 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 Dakota
Worked examples at an illustrative rate, never above South Dakota'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)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $48.74
- Finance charge
- $84.88
- Total of payments
- $584.88
Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. 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)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $97.48
- Finance charge
- $169.76
- Total of payments
- $1,169.76
Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. 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)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $292.45
- Finance charge
- $509.40
- Total of payments
- $3,509.40
Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in South Dakota
Free and low-cost places to turn in South Dakota, each linked to its official source and dated when we last checked it.
Lending regulator and complaints
South Dakota Division of Banking, Dept. of Labor and Regulation licenses lenders in South Dakota. Check a lender's license here, and file a complaint if something goes wrong.
Check a lender's license File a complaint
dlr.sd.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.
consumer.sd.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.
helplinecenter.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.
dpls.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 Dakota, and for signing up.
eaportal.sd.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 Dakota.
The rules lenders follow in South Dakota
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 Dakota: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4] | Allowed | 36% APR | Not set by statute | Not set by statute | Money Lender license under SDCL Chapter 54-4, Division of Banking | SDCL Sections 54-4-36 to 54-4-44.1; SDCL 54-4-66 |
| Title loans[1][3][4] | Allowed | 36% APR | Not set by statute | Not set by statute | Money Lender license under SDCL Chapter 54-4, Division of Banking | SDCL 54-4-44 |
| Payday loans[1][3][4] | Allowed | 36% APR | Up to $500 | Not set by statute | Money Lender license under SDCL Chapter 54-4, Division of Banking | SDCL 54-4-66; SDCL 54-4-44 |
| 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 Dakota
Installment and personal loans
- Rate cap
- South Dakota Initiated Measure 21 (approved by voters Nov 8, 2016, ~76%) caps the annual percentage rate on loans made by state-licensed Money Lenders at 36%, inclusive of total interest, fees and charges. Applies to installment, payday, and title loans alike under a single Money Lender license framework; does not apply to traditional bank/credit union loans.
- Fees
- All fees and charges are folded into the 36% all-in APR cap; using a 'device, subterfuge, or pretense to evade' the maximum finance charge is separately prohibited (SDCL 54-4-44.1).
- License
- Money Lender license under SDCL Chapter 54-4, Division of Banking; retail installment contract servicers/purchasers must also hold a money lender license.
Title loans
- Rate cap
- Same 36% all-in APR cap as installment and payday loans, under the same Money Lender license (Initiated Measure 21, 2016). No separate title-loan-specific statute distinct from SDCL Chapter 54-4 was found.
- Fees
- Folded into the 36% all-in cap; see installment entry.
- License
- Money Lender license under SDCL Chapter 54-4, Division of Banking.
Payday loans
- Rate cap
- Same 36% all-in APR cap as installment loans, under the same Money Lender license (Initiated Measure 21, 2016). Payday lenders in South Dakota are licensed as Money Lenders; there is no separate payday-specific statute distinct from SDCL Chapter 54-4.
- Fees
- Folded into the 36% all-in cap; see installment entry.
- License
- Money Lender license under SDCL Chapter 54-4, Division of Banking.
Money snapshot for South Dakota
Guides for South Dakota borrowers
Check your options in South Dakota
South Dakota questions
Does South Dakota law allow payday loans?
South Dakota law allows payday loans. The cost limit is 36% APR. Source: SDCL 54-4-66; SDCL 54-4-44.
What is the most a lender can charge in South Dakota?
By loan type in South Dakota: Installment and personal loans: 36% APR. Title loans: 36% APR. Payday loans: 36% APR.
Where can I file a complaint about a lender in South Dakota?
You can file a complaint with South Dakota Division of Banking, Dept. of Labor and Regulation, and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in South Dakota on this page.
How do I check a lender's license in South Dakota?
South Dakota Division of Banking, Dept. of Labor and Regulation licenses lenders in South Dakota. Use the license link under Resources in South Dakota on this page to check a lender before you share your information.
Is there free help paying bills in South Dakota?
Yes. Resources in South Dakota on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Can I get a loan in South Dakota 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
- NebraskaAllowed 24% APR (top tier)
- North DakotaAllowed 36% APR
- MinnesotaAllowed 33% APR (top tier)
- IowaAllowed 36% APR (top tier)
- WyomingAllowed 36% APR (top tier)
Sources
- sdlegislature.gov/api/Statutes/54-4.html. Retrieved September 23, 2026.
- dlr.sd.gov/banking/money_lenders/default.aspx. Retrieved September 23, 2026.
- sdlegislature.gov. SDCL Sections 54-4-36 to 54-4-44.1. Retrieved September 23, 2026.
- dlr.sd.gov. South Dakota Division of Banking, Dept. of Labor and Regulation. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: South Dakota. 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 Dakota: APRs from 5.99% to 35.99%, where the state APR cap is 36%. 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.
- There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
- Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
- Our service is not available in all states, and not every loan type is available in every state.
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- Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
- Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
- BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
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- Questions about a lender licensed in South Dakota? Contact the South Dakota Division of Banking, Dept. of Labor and Regulation or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.