Payday loan laws in South Dakota

  • Status: Legal (S.D. Codified Laws 54-4-36 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: $500
  • Loan tenure: Not specified
  • Fees and finance charges: Not specified
  • Finance charge on a 14-day $100 loan: No Limit
  • APR on 14-day $100 loan: No Limit

Collection restrictions:

  • Collection fees: Not specified
  • Criminal procedures: Not specified
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: Not Specified
  • Rollovers allowed: Four

Complaint cell:

  • Regulator: South Dakota Division of Banking
  • Address: Division of Banking, 1601 N. Harrison Avenue, Suite 1, Pierre, SD 57501
  • Phone: 605-773-3421
  • Fax: 866-326-7504
  • Regulatory contact: Jim Copeland, Assistant Commissioner of Consumer Finance
  • Website:
  • File complaint:

Last Updated on: Thu, 7 Apr 2016

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