(last updated 11/20/2019)
South Carolina Personal Loan Laws and Regulations in (SC)
South Carolina Code of Laws 34-31-20: Legal Rate of Interest
Legal Maximum Rate of Interest
Penalty for Usury (Unlawful Interest Rate)
Usury penalty laws repealed June 25, 1982, but old law may apply to transactions before then (formerly §34-31-50)
Interest Rates on Judgments
See South Carolina Consumer Protection Code (§37-1-101 et seq.)
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in South Carolina, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the South Carolina State Board of Financial Institutions.
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of South Carolina. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.