Payday loans in South Dakota: what's allowed instead
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
South Dakota payday loan rules at a glance
| Governing law | A licensed money lender may not charge finance charges above 36% a year, including all charges for ancillary products and any other fee incident to the loan. A violation is a Class 1 misdemeanor and the loan is void and uncollectible. (SDCL 54-4-44 (Initiated Measure 21, SL 2017, ch 221)) |
|---|---|
| Fees / interest cap | 36% a year, counting all fees and charges. (SDCL 54-4-44) |
Your options in South Dakota
Payday loans aren't offered by state-licensed lenders here, but you can still request a personal installment loan of $100 to $5,000 through our form. Installment loans spread repayment over several months, so each payment is smaller. See South Dakota personal loans.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Status | Max loan |
|---|---|---|
| Iowa | Legal | A lender may not hold checks from you totaling more than $500 at any one time. |
| Minnesota | Legal | A consumer small loan is $350 or less, and one borrower may not owe more than $350 in total on such loans at one time. |
| Montana | Not available | A payday loan must be at least $50 and no more than $300, not counting the fee. |
| Nebraska | Not available | A lender may not hold checks from one borrower totaling more than $500 at any one time. |
| North Dakota | Legal | A lender may not give you more than $500 in one payday loan. |
| Wyoming | Legal | — |
Personal loans by city in South Dakota
Counties in South Dakota
Show all 66 counties
Also see: Personal Loans in South Dakota · Title Loans in South Dakota · All South Dakota loan options
Frequently asked questions
Are payday loans legal in South Dakota?
Payday loans are effectively prohibited in South Dakota by the 36% rate cap adopted by voters in Initiated Measure 21 (effective November 16, 2016). Every licensed money lender is limited to 36% a year including all fees, and loans above the cap are void.
How much do payday loans cost in South Dakota?
36% a year, counting all fees and charges.
What do I need to get a payday loan in South Dakota?
Most lenders ask for a few basics: you must be a legal adult, with a valid government-issued ID, a steady source of income, an active checking account in your name, and a phone number and email. Some lenders also ask for recent pay stubs or bank statements. Having these ready makes our 3-minute form quick, and many South Dakota applicants get a decision in minutes.
Can I get a payday loan on the weekend in South Dakota?
You can submit our online form any time, including nights and weekends, and some lenders review requests right away. Funding depends on banking days, though, so money requested on a Saturday or Sunday typically arrives the next business day. Submitting early helps you get in line for the first available deposit. South Dakota residents can start a request now; it takes about 3 minutes.
Can I get a payday loan online in South Dakota?
Yes. You can request a payday loan online from anywhere in South Dakota, using your phone or computer. Our secure form takes about 3 minutes and connects you with lenders in our network that serve South Dakota residents. If you're approved, funds go straight to your checking account, often by the next business day. There's no cost to apply and no obligation to accept.
Do payday loans in South Dakota affect your credit score?
Usually only a little, if at all. Because many payday lenders don't use a traditional hard credit pull and often don't report to the major bureaus, a payday loan repaid on time typically has little effect on your score. A balance that goes unpaid and reaches collections could hurt it, so borrow an amount you can repay on your due date. South Dakota residents can see their options with our 3-minute form.