Personal loans in South Dakota
Consumer lending in South Dakota is regulated by the South Dakota Department of Labor and Regulation, Division of Banking. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.
Lending rules in South Dakota
| Payday lending | Permitted and regulated — maximum loan amount: $500. Finance charges: No licensee may contract for or receive finance charges pursuant to a loan in excess of an annual rate of 36%, including all charges for any ancillary product or service and any other charge or fee incident to the extension of credit. A violation of this section is a Class 1 misdemeanor. Any loan made in violation of this section is void and uncollectible as to any principal, fee, interest, or chargeSource: National Conference of State Legislatures · as of 2023 |
|---|---|
| Small-loan / installment licensing | Consumer lenders must obtain a state license (Yes). Statutory basis: S.D. Codified Laws §§ 54-4 et seq. Licensing administered through NMLS: Yes.Source: Conference of State Bank Supervisors · as of 2026 |
| Interest rate cap (usury limit) | Usury limit: No maximum interest rate if made by written agreement (S.D. Codified Laws § 54-3-1.1 (2020)); 12% absent an agreement (S.D. Codified Laws § 54-3-4 (2020)). Finance rates and fees for licensed lenders: 36% per annum. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026 |
| Consumer lending regulator | Consumer lenders in South Dakota are licensed and supervised by the South Dakota Department of Labor and Regulation, Division of Banking.Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the South Dakota Office of the Attorney General. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: South Dakota Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024 |
| Complaint / licensing lookup | Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the South Dakota Department of Labor and Regulation, Division of Banking; consumers can file complaints with the South Dakota Department of Labor and Regulation, Division of Banking or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026 |
Calculate your loan
Use the personal loan calculator to estimate your monthly payment, or check your debt-to-income ratio to see how a lender is likely to view your application.
Cities in South Dakota
Sioux FallsRapid CityAberdeenBrookingsWatertownMitchellYanktonPierreHuronSpearfishBox ElderVermillionBrandonRapid ValleySturgisHarrisburgMadisonBelle FourcheTeaDell RapidsDakota DunesMilbankHot SpringsHartfordMobridgePine RidgeBlackhawkCantonLeadNorth Sioux CityWinnerSummersetLennoxSissetonFort PierreColonial Pine HillsChamberlainBeresfordFlandreauElk PointNorth SpearfishRedfieldVolgaSpringfieldCusterRosebudWebsterParkstonNorth Eagle ButteFreemanGrotonWagnerGettysburgEagle ButteKyleClear LakeGarretsonCrooksAuroraMillerDeadwoodGregoryPorcupineFort ThompsonBalticLemmonSalemMissionMartinTyndallGreen ValleyIpswichPlatteOglalaClarkDe SmetBrittonAgency VillageLake AndesPiedmont
Recommended reading
- 1000 Dollar Loan Bad Credit
- 1500 Loan No Credit Check
- 2nd Chance Loans Bad Credit
- 300 Loan Bad Credit
- 400 Loan Bad Credit
Compare personal loan options in South Dakota
Check your rate with a lending partner in about two minutes. Checking does not affect your credit score.
Check your rateWe may be paid a commission if you apply through this link. This does not affect our calculators or guides, which are free and independent.