South Dakota

State Payday Loan Law Information

Payday loans in South Dakota are restricted to amounts equal to or less than $500. The maximum term of any loan is not specified along with the maximum finance rate and fees.

The maximum number of outstanding loans at one time is not specified. Four rollovers are permitted and the licensee can renew, rollover, or flip the loan if the borrower pays the outstanding fee each time. The cooling off period and repayment plan is unspecified.

Collection fees and criminal actions are also unspecified.

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