Payday Loan Laws South Dakota, Best Personal Loans of March 2024

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Last Update: November 2, 2022 Loans By State
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Best Personal Loans for Bad Credit in South Dakota of March 2024

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 72 Months

Licensed in South Dakota:

Yes

Amount:

$1,000 - $50,000

Min. Credit Score:

300

APR:

5.6% - 35.99%

Approval:

5 Minutes

Terms:

3 - 5 Years

Licensed in South Dakota:

Yes

Amount:

$100 - $40,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in South Dakota:

Yes

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in South Dakota:

Yes

Amount:

$100 - $40,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in South Dakota:

Yes

Amount:

$200 - $5,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

12 - 120 Months

Licensed in South Dakota:

Yes

Amount:

$1,000 - $35,000

Min. Credit Score:

580

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

90 Days - 72 Months

Licensed in South Dakota:

Yes

Best Good Credit Loans in South Dakota of March 2024

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

4.99 - 35.99%

Approval:

1 Day

Terms:

12 - 120 months

Licensed in South Dakota:

Yes

Amount:

$2,000 - $40,000

Min. Credit Score:

640

APR:

7.95% - 35.99%

Approval:

1 - 3 Days

Terms:

36 - 60 months

Licensed in South Dakota:

Yes

Amount:

$1,000 – $100,000

Min. Credit Score:

0

APR:

4.99 - 35.99%

Approval:

1 Day

Terms:

12 - 120 months

Licensed in South Dakota:

Yes

Amount:

$1,000 – $35,000

Min. Credit Score:

580

APR:

5.99% – 35.99%

Approval:

< 1 Day

Terms:

90 Days – 72 Months

Licensed in South Dakota:

Yes

Amount:

$1,000 – $50,000

Min. Credit Score:

500

APR:

3.99% – 35.99%

Approval:

< 1 Day

Terms:

1 – 5 Years

Licensed in South Dakota:

Yes

Amount:

$1,000 – $50,000

Min. Credit Score:

600

APR:

7.99% - 35.97%

Approval:

< 1 Day

Terms:

3 - 5 Years

Licensed in South Dakota:

Yes

Amount:

$5,000 – $35,000

Min. Credit Score:

640

APR:

5.99% – 24.99%

Approval:

1 – 7 Days

Terms:

2 - 5 Years

Licensed in South Dakota:

Yes

Amount:

$2,500-$35,000

Min. Credit Score:

660

APR:

6.99-24.99%

Approval:

1 Day

Terms:

24 - 84 Months

Licensed in South Dakota:

Yes

Amount:

$7,500 - $40,000

Min. Credit Score:

680

APR:

6 - 15%

Approval:

1 - 7 Days

Terms:

36 - 84 months

Licensed in South Dakota:

Yes

Payday Loan Laws in South Dakota of March 2024

According to the official law in South Dakota, payday loans are legal but highly regulated.

In fact, they don’t actually exist in their real power …

Why?

To explain why we make such a claim, let’s go back to a few years ago.

Till 2016, payday loans have been legal but regulated. Till then, the law has allowed lenders to charge up to 574% interest on their loans. This has been a great environment for predatory payday lenders to develop their businesses.

Then things change!

But before explaining that change, let’s explain the difference between personal loans and payday loans. In brief, personal loans are capped at 35.99% APR, payday loans APR average at 400%.

If we go back to this serious change in payday loan law in South Dakota, it’s obvious that this business was completely legal before this chance. With an allowed 574% interest, all predatory lenders could continue running their business with no problems!

According to many studies, most payday loans lead people to a debt cycle or serious financial problems.

And one day, the laws in South Dakota have decided to stop that!

At this time, payday loans are technically legal if they are capped at 35.99%. But actually, this is the legit range for personal loans.

So we can conclude that the law in South Dakota only technically names payday loans legal. In fact, the law makes payday loans legit only if they stay very close to personal loans. That way, the law actually tries to protect people from the debt cycle.

Because of this change in 2017, 121 lenders did not renew their licenses and chose to leave the state. 75 stayed until they collected on existing loans.

The law in South Dakota allows payday loan lenders to release no more than $500. Only 4 rollovers are allowed.

How Can You Tell, Whether a Lender is Legit in South Dakota?

It’s easy. You only have to verify whether your lender is licensed in The Division of Banking in South Dakota. Here is the list of all licensed lenders in South Dakota. South Dakota requires all lenders to be licensed and abide by the actual laws. Here you can find the official law.

Allowed rates and fees in South Dakota:

In South Dakota, lenders can charge no more than $1.39 for a $100 loan given for 2 weeks.

Last, lenders are forbidden to take any criminal actions against borrowers.

Are you with bad credit? Do you feel that payday loans are your last option?

Wait …

We have something for you.

We have created the most advanced guide on bad credit loans. We highly recommend you to read and understand it. It will help you save a lot of money without sending you to predatory lenders.

Payday Loan Laws in South Dakota by Country of March 2024

ElitePersonalFinance analysis of payday loan laws by countries in the State of South Dakota.

City:Amount Allowed:APR Allowed:Status:
Sioux Falls$50036%Legal
Rapid City$50036%Legal
Aberdeen$50036%Legal
Brookings$50036%Legal
Watertown$50036%Legal
Mitchell$50036%Legal
Yankton$50036%Legal
Pierre$50036%Legal
Huron$50036%Legal
Spearfish$50036%Legal
Vermillion$50036%Legal
Brandon$50036%Legal
Rapid Valley$50036%Legal
Box Elder$50036%Legal
Madison$50036%Legal
Sturgis$50036%Legal
Harrisburg$50036%Legal
Belle Fourche$50036%Legal
Tea$50036%Legal
Pine Ridge$50036%Legal
Dell Rapids$50036%Legal
Hot Springs$50036%Legal
Mobridge$50036%Legal
Canton$50036%Legal
Milbank$50036%Legal
Blackhawk$50036%Legal
Hartford$50036%Legal
Dakota Dunes$50036%Legal

Auto Title Loans in South Dakota of March 2024

Auto title loans in South Dakota are legal but highly regulated.

We at ElitePersonalFinance strongly recommend that you avoid payday loans and auto title loans. Read our advanced guide on bad credit loans and find better options if you are with bad credit.

Best Auto Loans for Bad Credit in South Dakota of March 2024

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

From 1.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

From 1.99%

Licensed in South Dakota:

Yes

Amount:

Up to $100,000

Min. Credit Score:

0

APR:

Vary

Licensed in South Dakota:

Yes

Amount:

Up to $100,000

Min. Credit Score:

0

APR:

Vary

Licensed in South Dakota:

Yes

Amount:

Up to $100,000

Min. Credit Score:

0

APR:

Vary

Licensed in South Dakota:

Yes

Amount:

$8,000 - $100,000

Min. Credit Score:

500

APR:

2.74% - 27%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

500

APR:

From 3.09%

Licensed in South Dakota:

Yes

Amount:

$250 - $500,000

Min. Credit Score:

640

APR:

2.99% - 21.99%

Licensed in South Dakota:

Yes

Amount:

$1,500 - $20,000

Min. Credit Score:

0

APR:

18.00% - 35.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $45,000

Min. Credit Score:

0

APR:

From 0.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $35,000

Min. Credit Score:

0

APR:

From 1.99%

Licensed in South Dakota:

Yes

Amount:

$7,500 - $50,000

Min. Credit Score:

500

APR:

From 3.39%

Licensed in South Dakota:

Yes

Amount:

$5,000 – $55,000

Min. Credit Score:

510

APR:

3.99% - 24.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

3.90% - 27.90%

Licensed in South Dakota:

Yes

Best Auto Loans for Good Credit in South Dakota of March 2024

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

From 1.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

From 1.99%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

500

APR:

From 3.09%

Licensed in South Dakota:

Yes

Amount:

$250 - $500,000

Min. Credit Score:

640

APR:

2.99% - 21.99%

Licensed in South Dakota:

Yes

Amount:

$5,000-$100,000

Min. Credit Score:

660

APR:

4.99% to 9.19%

Licensed in South Dakota:

Yes

Amount:

$7,500 - $50,000

Min. Credit Score:

500

APR:

From 3.39%

Licensed in South Dakota:

Yes

Amount:

$8,000 - $100,000

Min. Credit Score:

500

APR:

2.74% - 27%

Licensed in South Dakota:

Yes

Amount:

$1,000 - $100,000

Min. Credit Score:

0

APR:

3.90% - 27.90%

Licensed in South Dakota:

Yes

Amount:

$3,000 - $100,000

Min. Credit Score:

650

APR:

From 3.12%

Licensed in South Dakota:

Yes

Amount:

$5,000 - $100,000

Min. Credit Score:

640

APR:

From 3.54%

Licensed in South Dakota:

Yes

Amount:

$5,000 – $55,000

Min. Credit Score:

510

APR:

3.99% - 24.99%

Licensed in South Dakota:

Yes

Amount:

$5,000 - $100,000

Min. Credit Score:

600

APR:

3.54% - 10.24%

Licensed in South Dakota:

Yes

Amount:

$1,500 - $20,000

Min. Credit Score:

0

APR:

18.00% - 35.99%

Licensed in South Dakota:

Yes

FHA Loans in South Dakota of March 2024

South Dakota has 65 counties with FHA Limits ranging from a low of $331,760 for a 1-bedroom unit in Aurora County to a high of $638,100 for a 4-bedroom unit in Aurora County.

County:Single Unit Limit (lowest):Four-Plex Limit (highest):
Aurora County$331,760$638,100
Beadle County$331,760$638,100
Bennett County$331,760$638,100
Bon Homme County$331,760$638,100
Brookings County$331,760$638,100
Brown County$331,760$638,100
Brule County$331,760$638,100
Buffalo County$331,760$638,100
Butte County$331,760$638,100
Campbell County$331,760$638,100
Charles Mix County$331,760$638,100
Clark County$331,760$638,100
Clay County$331,760$638,100
Codington County$331,760$638,100
Corson County$331,760$638,100
Custer County$331,760$638,100
Davison County$331,760$638,100
Day County$331,760$638,100
Deuel County$331,760$638,100
Dewey County$331,760$638,100
Douglas County$331,760$638,100
Edmunds County$331,760$638,100
Fall River County$331,760$638,100
Faulk County$331,760$638,100
Grant County$331,760$638,100
Gregory County$331,760$638,100
Haakon County$331,760$638,100
Hamlin County$331,760$638,100
Hand County$331,760$638,100
Hanson County$331,760$638,100
Harding County$331,760$638,100
Hughes County$331,760$638,100
Hutchinson County$331,760$638,100
Hyde County$331,760$638,100
Jackson County$331,760$638,100
Jerauld County$331,760$638,100
Jones County$331,760$638,100
Kingsbury County$331,760$638,100
Lake County$331,760$638,100
Lawrence County$331,760$638,100
Lincoln County$331,760$638,100
Lyman County$331,760$638,100
Marshall County$331,760$638,100
Mccook County$331,760$638,100
Mcpherson County$331,760$638,100
Meade County$331,760$638,100
Mellette County$331,760$638,100
Miner County$331,760$638,100
Minnehaha County$331,760$638,100
Moody County$331,760$638,100
Pennington County$331,760$638,100
Perkins County$331,760$638,100
Potter County$331,760$638,100
Roberts County$331,760$638,100
Sanborn County$331,760$638,100
Spink County$331,760$638,100
Stanley County$331,760$638,100
Sully County$331,760$638,100
Todd County$331,760$638,100
Tripp County$331,760$638,100
Turner County$331,760$638,100
Union County$331,760$638,100
Walworth County$331,760$638,100
Yankton County$331,760$638,100
Ziebach County$331,760$638,100

Business Loans in South Dakota of March 2024

Amount:

Up to $10,000,000

APR:

Vary

Min. Credit Score:

0

Licensed in South Dakota:

Yes

Amount:

$5,000 - $500,000

APR:

9.77% - 35.98%

Min. Credit Score:

600

Licensed in South Dakota:

Yes

Amount:

$5,000 - $500,000

APR:

5.99% – 35.99%

Min. Credit Score:

500

Licensed in South Dakota:

Yes

Amount:

Up to $250,000

APR:

24% – 99%

Min. Credit Score:

560

Licensed in South Dakota:

Yes

Amount:

Up to $350,000

APR:

9.28 - 10.52%

Min. Credit Score:

650

Licensed in South Dakota:

Yes

Amount:

Up to $350,000

APR:

10.00 - 25.00%

Min. Credit Score:

680

Licensed in South Dakota:

Yes

Amount:

$75,000 - $5,000,000

APR:

5.50 - 8.25%

Min. Credit Score:

650

Licensed in South Dakota:

Yes

Amount:

Up to $500,000

APR:

12.18 - 36.00%

Min. Credit Score:

660

Licensed in South Dakota:

Yes

Amount:

Up to $500,000

APR:

9.00 - 99.00%

Min. Credit Score:

600

Licensed in South Dakota:

Yes

Amount:

Up to $5,000,000

APR:

15.00 - 78.00%

Min. Credit Score:

600

Licensed in South Dakota:

Yes

Amount:

Up to $1,000,000

APR:

Vary

Min. Credit Score:

0

Licensed in South Dakota:

Yes

Amount:

$6,000 to $250,000

APR:

Vary

Min. Credit Score:

0

Licensed in South Dakota:

Yes

All Licensed Credit Unions in South Dakota of March 2024

Name:City:Size (Millions):Members:
BLACK HILLS FEDERAL CREDIT UNIONRapid City$910.0352236
SIOUX FALLS FEDERAL CREDIT UNIONSioux Falls$163.3923241
DAKOTALAND FEDERAL CREDIT UNIONHuron$197.4618370
SERVICE FIRST FEDERAL CREDIT UNIONSioux Falls$121.1514775
GOOD SAMARITAN FEDERAL CREDIT UNIONSioux Falls$22.8910602
ABERDEEN FEDERAL CREDIT UNIONAberdeen$92.6910465
SIOUX EMPIRE FEDERAL CREDIT UNIONSioux Falls$75.1010025
VOYAGE FEDERAL CREDIT UNIONSioux Falls$67.169715
HIGHMARK FEDERAL CREDIT UNIONRapid City$82.218659
SENTINEL FEDERAL CREDIT UNIONBox Elder$57.927108
NORTHERN HILLS FEDERAL CREDIT UNIONSturgis$46.056355
SERVICES CENTER FEDERAL CREDIT UNIONYankton$40.656348
RAPID CITY TELCO FEDERAL CREDIT UNIONRapid City$43.525878
DAKOTA PLAINS FEDERAL CREDIT UNIONLemmon$39.484577
DAKOTA STAR FEDERAL CREDIT UNIONRapid City$18.024058
MED5 FEDERAL CREDIT UNIONRapid City$41.063750
HEALTHCARE PLUS FEDERAL CREDIT UNIONAberdeen$35.073655
DAKOTA TERRITORY FEDERAL CREDIT UNIONDeadwood$30.383066
SIMPLY SERVICE FEDERAL CREDIT UNIONBelle Fourche$17.492820
EAST RIVER FEDERAL CREDIT UNIONMadison$22.372794
OAHE FEDERAL CREDIT UNIONPierre$16.442644
AIR GUARD FEDERAL CREDIT UNIONSioux Falls$19.262406
AVANTI FEDERAL CREDIT UNIONWatertown$13.292314
VERMILLION FEDERAL CREDIT UNIONVermillion$12.092160
FT RANDALL FEDERAL CREDIT UNIONPickstown$14.192089
MITCHELL AREA FEDERAL CREDIT UNIONMitchell$19.352074
SISSETON-WAHPETON FEDERAL CREDIT UNIONGoodwill$4.192035
M O FEDERAL CREDIT UNIONHuron$21.631979
FIRST CENTURY FEDERAL CREDIT UNIONSioux Falls$17.141841
NORSTAR FEDERAL CREDIT UNIONBritton$29.071815
SIOUX VALLEY COOP FEDERAL CREDIT UNIONWatertown$10.741785
RUSHMORE ELECTRIC FEDERAL CREDIT UNIONRapid City$20.911736
MINUTEMAN COMMUNITY FEDERAL CREDIT UNIONRapid City$12.821324
PALACE CITY FEDERAL CREDIT UNIONMitchell$6.921264
DACOTAH FEDERAL CREDIT UNIONRapid City$11.231184
UNITED METHODIST FIRST CHOICE FEDERAL CREDIT UNIONRapid City$4.421164
CONSOLIDATED-HUB CO FEDERAL CREDIT UNIONAberdeen$4.711158
HB TELCO FEDERAL CREDIT UNIONHuron$4.171144
HURON AREA EDUCATION FEDERAL CREDIT UNIONHuron$14.301122
COTEAU VALLEY FEDERAL CREDIT UNIONSisseton$6.581114
CONSUMER’S FEDERAL CREDIT UNIONGregory$9.25961
HURON C & N W FEDERAL CREDIT UNIONHuron$5.11725
MITCHELL TEACHERS FEDERAL CREDIT UNIONMitchell$2.10480
S O D E S FEDERAL CREDIT UNIONAberdeen$2.77473
CR COMMUNITY FIRST FEDERAL CREDIT UNIONEagle Butte$0.95336
GLACIAL LAKES EDUCATIONAL EMPLOYEES FEDERAL CREDIT UNIONWatertown$0.92272
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