Loans in South Carolina: payday, personal & title loan laws (2026)
Payday Loans Legal
Payday loans (deferred presentment services) are legal in South Carolina from lenders licensed by the State Board of Financial Institutions under Title 34, Chapter 39.
Personal Loans
No cap over $600 (filed and posted rates); Consumer Finance Act schedule up to $7,500.
Title Loans Legal
Title loans are legal in South Carolina.
South Carolina at a glance
Counties in South Carolina
Cities in South Carolina
Frequently asked questions
Are payday loans legal in South Carolina?
Payday loans (deferred presentment services) are legal in South Carolina from lenders licensed by the State Board of Financial Institutions under Title 34, Chapter 39. A license is required for each location and for lending to South Carolina residents from out of state.
How much can you borrow with a payday loan in South Carolina?
No more than $550 advanced to you at one time, not counting the fee.
How much do payday loans cost in South Carolina?
The fee may not exceed 15% of the principal and may be charged only once per agreement.
Are title loans legal in South Carolina?
Title loans are legal in South Carolina. Supervised lenders may charge any rate they file and post on loans over $600, and short-term vehicle-secured loans (under 120 days) have their own rules on renewals, ability to repay and repossession.
How much can you get for a title loan in South Carolina?
A short-term vehicle secured loan may not exceed the car's fair market retail value under common industry appraisal guides.
Is there a cap on personal loan interest rates in South Carolina?
No cap over $600 (filed and posted rates); Consumer Finance Act schedule up to $7,500.
Do personal loan lenders need a license in South Carolina?
Yes. A supervised lender license from the State Board of Financial Institutions is needed for consumer loans above 12% a year, and a Consumer Finance Act license for loans of $7,500 or less above the general usury rate.