South Dakota Payday Loan Laws and Regulations in (SD)

(last updated 01/02/2018)
Payday loans and cash advances are legal in South Dakota. The South Dakota Department of Labor and Regulation has been regulating Payday Loans and Cash Advances since 1998. As of 09/17/2014 there were 229 licensed lenders and 398 licensed locations in South Dakota.
 
The maximum payday loan allowed in South Dakota is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is not specified. The maximum permissible fees allowed in South Dakota is not limited. The cooling off or waiting period for obtaining another loan is 0 days. The number of rollovers that are permitted is 4, borrower can renew, rollover, or flip the loan if outstanding fees are paid. The minimum loan term is not specified. The maximum loan term is not specified, any loan term the lender offers is acceptable.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in South Dakota, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the South Dakota Department of Labor and Regulation.
 
The following classes of lending organizations may be exempt from some, all, or none of the regulations set by the state of South Dakota. Federally chartered banks, state chartered banks, credit unions and some entities organized by the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

South Dakota Payday Lending Regulator (SD)

Regulating Authority
South Dakota Department of Labor and Regulation
Division of Banking
1601 North Harrison Avenue
Pierre, SD 57501
(605) 773-3421
dlr.sd.gov/banking/

Agency for Handling Complaints
South Dakota Department of Labor and Regulation
Division of Banking
1601 North Harrison Avenue
Pierre , SD 57501
(605) 773-3421
dlr.sd.gov/banking/consumers/consumer_complaint_faq.aspx

 


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South Dakota Payday Loans (SD) by City

Aberdeen, SD
Belle Fourche, SD
Beresford
Box Elder
Brandon
Brookings, SD
Canton
Chamberlain
Custer
Dell Rapids
Eagle Butte
Elk Point
Flandreau
Fort Pierre
Groton
Harrisburg
Hartford
Hot Springs
Huron, SD
Lead
Lennox
Madison, SD
Milbank
Mission
Mitchell
Mobridge
North Sioux City, SD
Parkston
Pierre, SD
Rapid City, SD
Redfield
Sioux Falls, SD
Sisseton
Spearfish, SD
Springfield
Sturgis, SD
Summerset
Tea
Vermillion
Volga
Wagner
Watertown
Webster
Winner
Yankton

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