# South Carolina Payday Loans: 2026 Laws, Rates & Options | PayKedge > South Carolina payday loan guide: $550 max, ~391% APR, regulated by SC Division. Costs, rules, 5.37M residents' best alternatives. Источник: https://paykedge.com/by-region/south-carolina/ --- # South Carolina Payday Loans **Payday loans remain legal in South Carolina: expect roughly $33.21 per $100 borrowed for 31 days (~391% APR), meaning a $300 advance carries about $99.62 in charges.** The ceiling sits at 391% APR. Below: actual dollar costs across loan amounts, your statutory safeguards, and more affordable paths 5.37M South Carolinians should weigh first. PayKedge is paid by the lenders we match you with. We rank options by cost, not commission. JC **Reviewed by [Jared Castellano, AFC®](/authors/jared-castellano/)** · Reviewed by [Laura Castellano, CFP®](/authors/laura-castellano/) · Last updated 2026-05-24 **On this page** Is it true that lenders in South Carolina can charge whatever they want? What does a $500 payday loan really cost in South Carolina? Can I just extend my loan if I can't pay it back on time? How does South Carolina stop me from taking out multiple loans at once? Are there cheaper ways to cover a short-term gap? What if I have a problem with a lender? South Carolina Payday Loan FAQ When immediate funds are needed in South Carolina, several paths exist. Payday borrowing represents one possibility, though the state imposes strict guardrails. Grasping these regulations empowers sound decisions and steers you clear of frequent pitfalls. ### South Carolina Payday Loan Snapshot - **Maximum Loan Amount:** $550 - **Maximum Loan Term:** 31 days - **Rollovers:** Prohibited by law - **Cooling-Off Period:** 1 day between loans - **Regulator:** South Carolina State Board of Financial Institutions, Consumer Finance Division ## Do South Carolina payday lenders face any limits on what they charge? No. State law sets clear limits. The Deferred Presentment Services Act (34-39-130) draws the line on what any licensed lender may charge. The South Carolina State Board of Financial Institutions, Consumer Finance Division polices it, capping the principal at $550 and the term at 31 days. This law also sets the maximum fee. ## What will you actually pay for a $500 payday advance in South Carolina? The total repayment would be $666.04. State law caps the fee at 15% of the loan's face amount. For a $500 loan, that's a maximum fee of $75. Add that to the $500 you borrowed, and you pay back $575. The numbers in the table below reflect the statutory cap, showing the total cost based on the 391% APR. | Loan amount | Term | Typical fee | Total cost | APR | $100 | 31 days | $33.21 | $133.21 | 391% | $300 | 31 days | $99.62 | $399.62 | 391% | $500 | 31 days | $166.04 | $666.04 | 391% ## Is rolling over a payday loan allowed if repayment proves difficult? No, rollovers are prohibited. This is a key protection for South Carolina borrowers. A lender cannot simply extend your due date and charge you another full fee. If you can't repay, don't let it default silently. Contact your lender immediately. You may be able to work out a payment plan. Taking out another loan to cover the first one is also prevented by the state's one-loan-at-a-time rule. ## What prevents borrowers from stacking several loans simultaneously? The state uses a central database called Veritec to enforce a one-loan-at-a-time rule. When you apply for a loan, the lender must check this database. If you already have an outstanding payday loan, you cannot get another. The state database catches stacking even when an individual lender doesn't. ## What less expensive options exist for bridging a brief cash shortage? Yes, most save you 80–95% over a storefront advance. A payday loan is one option, but it's often the most expensive. Before you decide, run the options below. For more ideas, see our guide on [alternatives to payday loans](/beyond-payday/). 1. **Check with Local Nonprofits:** Organizations like the Salvation Army of South Carolina and the United Way Association of South Carolina offer emergency aid for rent, utilities, and prescriptions at a $0 cost. 2. **Use Free Tax Prep Services:** South Carolina residents earning under about $60,000 qualify for free tax prep. Many recover refunds or Earned Income Tax Credit (EITC) of $1,000–$6,400, usually within 21 days of e-filing. 3. **Ask About Earned Wage Access (EWA):** This service, popular with South Carolina employers, lets you access pay you have already earned before payday. It typically has a $0 APR. 4. **Contact Your Bill Provider:** Utility companies, landlords, and medical offices may offer grace periods or payment plans that cost nothing. ## Where can you turn if a lender treats you unfairly? You can file a complaint with the state regulator. The South Carolina State Board of Financial Institutions, Consumer Finance Division accepts resident complaints. You can submit a complaint through their portal at [consumerfinance.sc.gov](https://consumerfinance.sc.gov). The regulator can order restitution, suspend a license, or refer a case for enforcement. Most complaints resolve within 30–60 days. ## Frequently Asked Questions: South Carolina Payday Loans Here are clear answers to common questions borrowers in the state have. What if I'm in the military? Are the rules different? Yes. The federal Military Lending Act’s 36% Military APR cap covers active-duty South Carolina service members and their dependents. This rate is much lower than the state's 391% cap, which excludes most standard payday products here. Lenders are required to check your military status. Is there a waiting period between loans? Yes. State law requires a 1-day cooling-off period. After you pay off a loan, you must wait at least one day before taking out another one from any lender. Where are payday loans most common in South Carolina? Demand for short-term credit is higher in urban areas. If you're looking for local options, you can check our directories for [Charleston](/city-directory/sc/charleston-sc/) and [Columbia](/city-directory/sc/columbia-sc/). How much can I actually borrow? Most loans in South Carolina land between $100 and $550. The legal maximum you can borrow is $550. You cannot borrow more than that from a single licensed lender under the state's payday loan law. Where can I learn more about how these loans work? For a full breakdown of the process and what to consider, our main [payday-loans guide](/payday-loans/) has detailed information. #### See your SC options We'll match you to South Carolina-licensed lenders only, and show lower-cost alternatives side by side. [See my options](/apply/) 🔒 256-bit encrypted · South Carolina State Board of Financial Institutions, Consumer Finance Division-aware --- #### Lower-cost first Always compare: [15 alternatives ranked by APR](/beyond-payday/). --- #### Compare cost See the 50-State Cost Index or read [the main payday-loans guide](/payday-loans/).