Payday Loans in South Carolina: Laws, Costs, and Your Options (2026)

Payday loans in South Carolina are legal and licensed under the state’s deferred presentment law, S.C. Code Title 34, Chapter 39. A lender can advance no more than $550 at one time, the fee is capped at 15% of the amount advanced, the loan runs 31 days or less, and you can have only one loan outstanding at a time, which every lender checks against a statewide database. South Carolina also gives borrowers a no-cost extended payment plan once a year. This page covers what the law allows, what a loan costs, your rights, and which of the lenders we review serve South Carolina. For how South Carolina compares with every other state, see payday loan laws by state.

South Carolina payday loan rules at a glance

Rule	South Carolina
Legal status	Permitted, through a licensee of the State Board of Financial Institutions (Section 34-39-130)
Regulator	Consumer Finance Division, State Board of Financial Institutions, 803-734-2020
Maximum loan	$550 at one time, not counting the fee (Section 34-39-180(B))
Fee cap	15% of the amount advanced, charged once per agreement; $82.50 on $550
Maximum term	31 days (Section 34-39-180(A))
Loans at a time	One, with any lender, verified in a statewide database (Section 34-39-270)
Renewals	Banned, and a loan cannot be paid off with another loan from the same lender
Waiting period	Next business day after repaying; two business days from the eighth loan in a calendar year
Extended payment plan	Once every 12 months: four or more equal installments, no added cost (Section 34-39-280)
Right to cancel	Until close of the following business day, at no cost (Section 34-39-270(K))
Returned check	No returned check charge, and no criminal liability for the borrower (Section 34-39-180(G))
Online lenders	Must hold a South Carolina license to serve residents (Section 34-39-130(C))
Military borrowers	36% federal MAPR cap under the Military Lending Act

How a South Carolina payday loan works

You write the lender a personal check, dated the day you sign, for the amount advanced plus the fee. The lender pays you the money and agrees in writing to hold the check until a specific date, no more than 31 days out. The agreement must state the fee both in dollars and as an APR. The lender cannot require any other security or a guaranty from another person (Section 34-39-200).

Before lending, the lender must check the state’s deferred presentment database, which tracks every open loan and payment plan in South Carolina, and it must tell you that it is doing so (Sections 34-39-175 and 34-39-270). The database answers only whether you are eligible and why. If it says you are not, you can ask the database provider directly for a more detailed explanation. The lender can pass on half of the database verification fee, which is capped at $1, so no more than 50 cents.

What a payday loan costs in South Carolina

The fee is a flat 15% of the amount advanced, whatever the term:

Amount advanced	Maximum fee	APR over 14 days	APR over 31 days
$100	$15	About 391%	About 177%
$300	$45	About 391%	About 177%
$550	$82.50	About 391%	About 177%

The APR columns are our own arithmetic, not a quote; your written agreement states the actual APR. A longer term lowers the APR but not the dollar fee, so ask for the latest due date the law allows.

The cost that adds up is repetition. The law blocks a new loan on the same business day you repay one, and from your eighth loan in a calendar year it adds another business day, but a $550 loan repaid and retaken every two weeks would still cost $82.50 each time.

If you cannot repay: the extended payment plan

Once in any 12-month period, you can convert a payday loan to an extended payment plan (Section 34-39-280):

• Ask before the due date. You must request the plan and sign an amendment to your agreement before the loan is due.
• At least four installments. The plan spreads the loan and its fee over at least four substantially equal payments, each due on or after a day you receive regular income.
• No added cost. The lender cannot charge any interest or additional fees during the plan, and you can prepay it in full at any time without penalty.
• No new loans meanwhile. Neither that lender nor any other can make you a new payday loan until the plan is paid.

If you miss a plan installment, you are in default and the lender can demand the remaining balance at once. Every licensed location must post a notice of this right, and the first page of your agreement must say it in bold type.

Your rights at the counter

1. A licensed lender. Confirm the license with the Consumer Finance Division at 803-734-2020 or consumerfinance.sc.gov.
2. A capped loan and a capped fee. No more than $550 advanced at once and no more than 15% in fees, charged once.
3. One loan at a time. No lender can make you a second loan while one is outstanding.
4. An extended payment plan. Once every 12 months, at no added cost; ask before the due date.
5. Next-day cancellation. Rescind the loan at no cost by the close of the following business day.
6. No returned check charge and no prosecution. If your check bounces, the lender can pursue civil collection but cannot add a returned check charge, and you are not subject to criminal liability for the check (Section 34-39-180(G)).
7. The federal Truth in Lending box. The APR, finance charge, amount financed, and total of payments must be disclosed before you sign.

What happens if you cannot repay

Ask for the extended payment plan before the due date; it is the cheapest way out. If your check has already bounced, the lender can pursue the debt in civil court but cannot charge a returned check fee, and you are not subject to criminal liability for the check. Read what happens if you default on a payday loan for how collection works, and how to escape the payday loan cycle if one loan keeps leading to the next. If the real problem is a bill you cannot cover, start with what to do when you can’t make this month’s payment. The Board can impose civil penalties of up to $1,000 per violation and order a lender to repay unlawful fees (Section 34-39-230), so report a problem to the Consumer Finance Division at 803-734-2020.

Alternatives worth trying first in South Carolina

These are roughly cheapest first, with the payday loan last for comparison:

Option	What it costs	The catch
Payment plan on the bill itself	Often nothing	You have to ask before the due date
211 referral to rent, utility, or food help	Nothing	What is funded varies by area
Federal credit union PAL I	Up to 28% APR plus an application fee of up to $20; $200 to $1,000, 1–6 months	One month of membership first; one PAL at a time
Federal credit union PAL II	The same caps; up to $2,000, 1–12 months	Not every federal credit union offers one
South Carolina payday loan	$45 fee on $300 (15% of the amount advanced), up to 31 days (above)	About 177% APR over 31 days; no renewals

The credit union limits come from federal regulation (12 CFR 701.21(c)(7)): no more than three PALs in six months, and no rollovers. Call 211 to reach the local referral line. Employer pay advances and earned-wage apps cost more than their small fees suggest; payday loan alternatives that actually work has the numbers for each option. If an installment loan is on the table, installment loans vs. payday loans explains how to compare total cost.

If you do borrow, borrow the smallest amount, take the latest due date allowed, and confirm the lender’s South Carolina license before you sign.