Payday & Title Loans in South Carolina

Lending rules in South Carolina

Payday loans (deferred presentment)

• The total a payday lender advances to a customer at one time cannot exceed $550, not counting the fee. Source: S.C. Code Ann. § 34-39-180(B) · verified Oct 8, 2026
• The fee on a deferred presentment transaction can be at most 15 percent of the principal amount, charged once per written agreement. Source: S.C. Code Ann. § 34-39-180(E) · verified Oct 8, 2026
• A licensee can defer presenting a check for up to 31 days. Source: S.C. Code Ann. § 34-39-180(A) · verified Oct 8, 2026
• A licensee cannot make a new deferred presentment transaction to a person who has one outstanding. Source: S.C. Code Ann. § 34-39-270(A)(1) · verified Oct 8, 2026
• A deferred presentment check cannot be repaid from the proceeds of another one from the same licensee or an affiliate, and presentment cannot be extended beyond the agreed date. Source: S.C. Code Ann. § 34-39-180(F) · verified Oct 8, 2026
• A customer who cannot repay may elect an extended payment plan of at least four substantially equal installments, at no extra cost. Source: S.C. Code Ann. § 34-39-280(C) · verified Oct 8, 2026
• A customer can use an extended payment plan once in any twelve month period. Source: S.C. Code Ann. § 34-39-280(A) · verified Oct 8, 2026
• An eighth or later deferred presentment transaction in a calendar year cannot be made on the same or next business day after the previous one is repaid. Source: S.C. Code Ann. § 34-39-270(B) · verified Oct 8, 2026
• A separate deferred presentment license is required for each location. Source: S.C. Code Ann. § 34-39-130(A) · verified Oct 8, 2026

Statewide loan database

• The Consumer Finance Division runs a common real-time database that licensees must check before each transaction. Source: S.C. Code Ann. § 34-39-175(A) · verified Oct 8, 2026

Installment and consumer finance loans

• Restricted lenders (Title 34 ch. 29) make loans of $7,500 or less and need a Board license to charge more than the general usury rate. Source: S.C. Code Ann. § 34-29-20(a) · verified Oct 8, 2026
• On the first $600 of a restricted loan over $150 and up to $2,000 (one-year term), the finance charge can be $25 per $100. Source: S.C. Code Ann. § 34-29-140(a)(2) · verified Oct 8, 2026
• On the part from $600 to $1,000, the finance charge can be $18 per $100 per year. Source: S.C. Code Ann. § 34-29-140(a)(2) · verified Oct 8, 2026
• On the part from $1,000 to $2,000, the finance charge can be $12 per $100 per year. Source: S.C. Code Ann. § 34-29-140(a)(2) · verified Oct 8, 2026
• A restricted lender can add an initial charge of at most 7 percent of the cash advance or $56, whichever is less. Source: S.C. Code Ann. § 34-29-140(a) · verified Oct 8, 2026
• Unless it is a supervised financial organization, a lender needs a license from the State Board of Financial Institutions to make supervised loans. Source: S.C. Code Ann. § 37-3-502 · verified Oct 8, 2026

Pawn loans

• If a pawn loan stays unpaid 60 days from the due date, title to the pledged property vests in the pawnbroker (with notice on the ticket and a mailed warning at least 10 days before). Source: S.C. Code Ann. § 40-39-110 · verified Oct 8, 2026
• Pawnbrokers are regulated by the Department of Consumer Affairs and need an authorization certificate for each location. Source: S.C. Code Ann. § 40-39-20(A) · verified Oct 8, 2026
• Pawn interest can be $2.50 per $10 per 30 days (25 percent) on the first $50 loaned. Source: S.C. Code Ann. § 40-39-100(A)(1) · verified Oct 8, 2026
• Pawn interest can be $2 per $10 per 30 days (20 percent) on the part over $50 up to $100. Source: S.C. Code Ann. § 40-39-100(A)(2) · verified Oct 8, 2026
• Pawn interest can be $1.50 per $10 per 30 days (15 percent) on the part over $100 up to $200. Source: S.C. Code Ann. § 40-39-100(A)(3) · verified Oct 8, 2026
• Pawn interest can be $1 per $10 per 30 days (10 percent) on the part over $200 up to $1,000. Source: S.C. Code Ann. § 40-39-100(A)(4) · verified Oct 8, 2026
• A pawnbroker cannot make a loan of more than $15,000. Source: S.C. Code Ann. § 40-39-100(C) · verified Oct 8, 2026

Lenders in South Carolina are licensed by the South Carolina State Board of Financial Institutions, Consumer Finance Division. See also online lenders and apps in South Carolina.