A guide to Payday Loans in South Dakota, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in South Dakota? 
A: The relevant citation regarding Payday Loans in the New Mexico State Jurisdiction is S.D. Codified Laws § 54-4-36 et seq.

Q: Are Payday Loans legal in South Dakota? 
A: Payday Loans are permitted in South Dakota under small loan act or licensing law. 

Q: What is the Maximum Cash Advance Loan Amount in South Dakota?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Maximum Payday Loan Term in South Dakota?
A: The Maximum Payday Loan Term in South Dakota is not specified. 

Q: What is the Maximum Fee for Cash Advance Loans in South Dakota?
A: There is no limit on the Finance Rate and Fees for Cash advance loans in South Dakota. 



Q: What is the Finance charge for 14-day $100 payday loan in South Dakota State?
A: There is no limit on the finance charge for a 14-day $100 loan in South Dakota. 

Q: What is the APR for 14-day $100 payday loan in South Dakota?
A: There is no limit on the APR charged for 14-day $100 payday loan in South Dakota. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: The maximum number of payday loans you can take at one time is not specified. 

Q: How many times can the lender rollover my payday loan in South Dakota?
A: The lender can rollover a payday loan four times (licensee can renew, rollover or flip loan if debtor pays outstanding fee each time)

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: It is not specified if the payday loan lender can initiate a criminal action if the borrower is unable to pay the loan. 

Q: Can I be charged a collection fee for a payday loan?
A: The collection fee is not specified. 


Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the South Dakota Department of Financial Institutions at:

South Dakota Division of Banking
Address: 217 1/2 West Missouri Avenue Pierre, SD 57501
Phone: (605) 773-3421
Fax: (605) 773-5367

Website: http://www.state.sd.us/drr2/reg/bank/BANK-HOM.htm

Where can I find a payday loan store in South Dakota? 

You can find the store nearest to your location by simply clicking on this link  loc: South Dakota