Quick answer
South Dakota is served by the South Dakota Division of Banking (Department of Labor and Regulation). Most loan types are available, each with its own limits and licensing requirements. Call (800) 236-7761 or use the form to see which lenders are active in South Dakota today.
South Dakota loan rules at a glance
- Payday max amount
- No dollar cap stated in sources reviewed
- Payday term
- Not stated in sources reviewed
- Payday cost cap
- State-licensed money lenders may not impose total interest, fees and charges at an annual rate greater than 36% (Initiat
- Payday licensing
- Money Lender license under SDCL ch. 54-4 required from the Division of Banking
- Title loan term
- not captured
- Title loan rate
- Title lenders are regulated lenders under ch. 54-4 (South Dakota title lender defined by statute); the 36% cap applies t
- Governing statutes
- Chapter 54, SDCL ch. 54-4, chapter 54, for ch. 54-4
Regulator: South Dakota Division of Banking (Department of Labor and Regulation) · Phone: 605-773-3421 · Statutes: Chapter 54, SDCL ch. 54-4, chapter 54, for ch. 54-4 · Last verified: 2026-10-08
Loan products in South Dakota
The table below summarises each product's legal status and key limits under South Dakota law. Click a product to see the detailed guide.
| Loan type | Status | Key limits |
|---|---|---|
| Payday loans | Restricted | State-licensed money lenders may not impose total interest, fees and charges at an annual rate great |
| Cash advance | Restricted | No separate cash-advance rule found in sources reviewed; money-lender 36% cap applies to state-licen |
| Title loans | Restricted | Title lenders are regulated lenders under ch. 54-4 (South Dakota title lender defined by statute); t |
| Installment loans | Restricted | State limits apply |
| Bad credit loans | Restricted | Same legal rules as installment unless noted; no separate bad-credit statute found in sources review |
| Debt consolidation | Unclear | Check with the state regulator |
| Refinance | Restricted | Regulated lenders are exempt from interest-rate limitations and usury statutes (SDCL 54-3-13), excep |
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Cities in South Dakota
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