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SD · LOAN-AGMT · Updated July 2026 · Free

South Dakota Loan Agreement

Review Status: PendingAuthor: Editorial TeamMethodology: Statutory Verification

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South Dakota at a glance: Default Interest: 15% · Maximum Written: No limit (must be written) · Governing Law: South Dakota Codified Laws Title 54

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Overview

Loan Agreements in South Dakota

South Dakota has no statutory limit on interest rates if the rate is written and agreed to in a signed contract (S.D.C.L. § 54-3-4).
Key Facts

South Dakota Loan Agreement — Quick Reference

RequirementSouth Dakota Rule
Default Interest15%
Maximum WrittenNo limit (must be written)
Governing LawSouth Dakota Codified Laws Title 54
Legal Requirements

South Dakota Legal Requirements

  • Interest rates above 15% must be specified in writing.
Governing Laws

South Dakota Governing Laws

S.D.C.L. § 54-3-4
Legal Rate of Interest
Defines contract default interest rates.

Read the full text of these laws at Cornell Law School's South Dakota legal resources or your state legislature's official website.

Questions & Answers

South Dakota Loan Agreement — Frequently Asked Questions

What is the default contract interest rate in South Dakota?

15% per year.