South Dakota voters approved Initiated Measure 21 in 2016, capping payday, title, and installment loan rates at 36% APR. The cap ended the state's previously unlimited high-cost payday market. Residents now rely on credit-union and nonprofit alternatives for short-term cash.
Key limits in South Dakota
- Cost note: 36% APR cap
Figures can change — always confirm current limits with the official source below before borrowing.
Payday loans aren’t available in South Dakota. Here are options you can use instead:
- Credit-union payday alternative loans (PALs)
- Nonprofit emergency assistance programs
- Employer paycheck advances
- Payment plans with creditors
Source: Consumer Federation of America (paydayloaninfo.org) · last verified 2026-07-24 · pending second-source verification
This page is general information, not legal or financial advice. State laws change; verify current rules with your state regulator or the source above.