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South Carolina Payday Loans
Updated November 2026 · By Payday Loans Reviews Editorial Team · Not a lender
Payday loans are legal in South Carolina through licensed lenders regulated by the SC Board of Fin. Inst. under the SC Deferred Presentment Services Act. The most you'll be allowed to borrow from any single lender is $500, and you'll have up to 31 days to pay it back.
Lenders can charge a fee of up to 15% of the loan's face value. On a $300 loan, that fee is $45. You'll owe $345 total when the loan comes due. With 398 payday loan storefronts across the state, these loans are easy to find, but the costs add up fast.
South Carolina short-term loan laws
- Max loan amount
- $500
- Min loan term
- N/A
- Max loan term
- 31 days
- Finance charge cap
- 15% of face value
- Max absolute fee
- $75
- Typical APR
- ~391%
- Rollovers (extensions)
- Prohibited
- Simultaneous loans
- 1 active loan
- Right to rescind
- Next business day
- Governing law
- SC Deferred Presentment Services Act
- Regulator
- SC Board of Fin. Inst.
South Carolina in context
- Population rank
- 23rd
- of 50 states
- Median household income rank
- 42nd
- of 50 states
- Households earning under $25,000
- 17.7%
- ▲ 2.8 pts vs US
- Median home value
- $253,171
- ▼ 35% vs US
- Home value to income
- 3.6×
- A $400 emergency expense
- 2.1 days
- of median household income
Payday lending in South Carolina cities
A
B
C
E
F
G
L
M
N
R
S
W
Getting short-term cash in South Carolina
Unexpected costs can show up without warning. Our secure platform links you to lenders who carry proper licenses to operate in South Carolina.
You can apply online in just a few minutes, hear back quickly and, if a lender approves you, have money deposited into your bank account as early as the next business day.
Why borrowers in South Carolina use us
- Quick online application About five minutes is all you need to fill out the simple form, wherever you happen to be.
- Fast decision Your submission goes immediately to lenders who hold active licenses in South Carolina.
- All credit types considered You are not automatically rejected just because your credit record has problems.
- Transparent terms The SC Deferred Presentment Services Act governs every fee and every loan agreement.
South Carolina disclosure: These payday and short-term cash advance products address only momentary financial shortfalls; they are not substitutes for lasting solutions. Rates, term lengths and the highest allowable loan sizes are governed by South Carolina law (SC Deferred Presentment Services Act). Please borrow wisely and review all conditions before you put your name on the agreement.
What a $300 loan costs and how to repay
Here's exactly how a typical payday loan works in South Carolina. Say you borrow $300 for 14 days. The lender charges 15% of the face value, which is $45. You walk out with $300 cash, but you agree to repay $345 on your next payday. That's a 391% APR, meaning if you kept borrowing this way for a full year, the annual cost would be nearly four times what you originally borrowed.
You cannot roll this loan over. South Carolina law prohibits rollovers, so you can't pay just the $45 fee to extend the loan another two weeks. You also can't take out a second loan from the same or another licensed lender while you have one active loan outstanding. These rules are meant to stop debt from spiraling, which means you'll need the full $345 ready when payment is due.
If $345 will stretch your budget too thin, consider a credit union Payday Alternative Loan instead. PALs run from $200 to $2,000 with terms of 1 to 12 months and APR capped at 28%, plus an application fee up to $20. They take longer to qualify for, but the savings are substantial. Your next practical step: call one or two local credit unions today and ask if you qualify for a PAL before you visit a payday lender.
What a payday loan costs in South Carolina
- Fee on a $500 loan
- $75
- Share of a two-week household paycheck
- 2.8%
- Hours of work at the local median wage
- 4.2 hours
- Rollovers
- Not allowed in South Carolina
Example based on the South Carolina maximum fee for the maximum loan and local median incomes: two-week paycheck = household income ÷ 26, hourly wage = individual income ÷ 2,080. Actual terms vary by lender.
$500 payday loan vs options in South Carolina
| Option | Term | Cost | Details |
|---|---|---|---|
| Payday loan | 2 weeks | $75 fee | 390% APR |
| Credit card cash advance | 30 days | $37.33 (typical) | 5% fee + 30% APR |
| Credit union PAL | 6 months | $62 total | $90.27/mo at 28% APR, $20 fee |
| Installment loan at state max | 6 months | $93 total | $98.77/mo at 61% APR |
Calculated from state rules in our database; card terms are typical, not a quote.
Top South Carolina cities for payday storefronts
| City | Residents | Loan offices | Per 100,000 residents |
|---|---|---|---|
| Greenwood | 54,175 | 8 | 14.8 |
| Aiken | 75,039 | 8 | 10.7 |
| Charleston | 208,163 | 21 | 10.1 |
| Greenville | 231,120 | 18 | 7.8 |
| Columbia | 345,750 | 25 | 7.2 |
| Summerville | 164,613 | 11 | 6.7 |
Cities with 20,000+ residents; counts from our directory.
South Carolina at a glance
| Metric | South Carolina | United States |
|---|---|---|
| Population | 5.2M | 332.3M |
| Median household income | $69,406 | $85,275 |
| Median rent | $1,160/mo | $1,432/mo |
| Income spent on rent | 32.2% | 31.6% |
| Homeownership | 71.7% | 65.4% |
| Poverty rate | 14.4% | 12.6% |
| Unemployment rate | 5.0% | 5.3% |
| Without health insurance | 10.0% | 8.6% |
| Veterans | 8.6% | 6.5% |
- Max fee on a $500 loan vs. median monthly household income
- $75 = 1.3%
Source: U.S. Census Bureau, American Community Survey, by ZIP code. City and state figures are population-weighted averages of ZIP code data and are approximate.
Payday loan cost calculator for South Carolina
Move the sliders to see what a payday loan would cost under South Carolina rules and how it compares with local incomes.
South Carolina maximum: $500
South Carolina maximum: $15
Rollovers are not allowed in South Carolina.
- Fee
- $75
- Total to repay
- $575
- APR
- 391%
- Share of a two-week household paycheck in South Carolina
- 2.8%
Estimate only. APR = fee ÷ amount × 365 ÷ term. Lenders may charge less than the state maximum; actual terms vary.
South Carolina payday loan answers
What cash amounts can borrowers access in South Carolina?
For South Carolina borrowers who qualify, loan sizes typically run from $100 up to $500. The final sum hinges on your regular monthly earnings, your repayment ability and what South Carolina law permits.
What are the lowest requirements for submitting a request?
Applying for a loan in South Carolina requires the following:
- Be 18 or above—the legal age of majority.
- Hold a current government photo ID and show proof of South Carolina residence.
- Keep an active checking account in your name.
- Prove you have a steady, verifiable income.
Is bad credit or a prior bankruptcy a dealbreaker?
There is a chance. Numerous lenders we work with look past earlier credit trouble and zero in on your existing income and ability to repay. No one is assured approval.
At what point will the cash reach my bank account?
After a lender approves your application and you e-sign the agreement, funds frequently move to your checking account that same day or the following business day. Timing depends on the specific lender and your bank.
What method do I use for repayment and when does it happen?
State rules set up to 31 days as the repayment window. Come the due date—often your next payday—the lender withdraws the borrowed sum plus fees directly from your checking account.