Personal loans in South Carolina
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
South Carolina personal loan rules at a glance
| Governing law | South Carolina Consumer Protection Code supervised-loan rules (Title 37, Chapter 3) and the Consumer Finance Act for restricted lenders (Title 34, Chapter 29). (S.C. Code §§ 37-3-201, 37-3-501, 34-29-140) |
|---|---|
| Rate cap | Supervised lenders: on cash advances over $600, any rate filed and posted with the Department of Consumer Affairs (no statutory maximum); on $600 or less, no more than the Consumer Finance Act charges. Consumer Finance Act (restricted) lenders, per year: $25 per $100 on the first $600, $18 per $100 on $600-$1,000, and $12 per $100 on $1,000-$2,000, plus an initial charge of up to 7% or $56, whichever is less. Different rates apply to larger loans up to $7,500. (S.C. Code §§ 37-3-201(2), 34-29-140(a)) |
| License required | 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. (S.C. Code §§ 37-3-501(1), 37-3-502, 34-29-20(a)) |
| Loan sizes covered | Consumer Finance Act: loans of $7,500 or less. Supervised loan rules: any consumer loan above 12% a year. (S.C. Code §§ 34-29-10(a), 34-29-140(a), 37-3-501(1)) |
| Origination / other fees | Consumer Finance Act loans: an initial charge of up to 7% of the cash advance or $56, whichever is less. It covers expenses including attorney's and broker's fees. (S.C. Code § 34-29-140(a)) |
Bad credit loans in South Carolina
Bad credit doesn't automatically rule you out in South Carolina. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| Georgia | Loans $3,000 or less need an installment lender license; above $3,000, any written rate. |
| North Carolina | Tiered caps: 33% on first $4,000, 24% to $8,000, 18% above. |
Personal Loans by city in South Carolina
Counties in South Carolina
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Also see: Payday Loans in South Carolina · Title Loans in South Carolina · All South Carolina loan options
Frequently asked questions
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.
Can I get a personal loan with bad credit in South Carolina?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in South Carolina must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
How do installment loans work in South Carolina?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. South Carolina residents can see installment loan offers with our free 3-minute form.
Can I get a personal loan in South Carolina with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. South Carolina residents can see if they qualify for $100 to $5,000 in about 3 minutes.
How can I get an emergency loan in South Carolina?
Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.
Where can I find a loan for bad credit in South Carolina?
You can apply at local banks and lenders in South Carolina, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.