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South Carolina Interest Rates Laws

More Information on Interest Rate Laws

Legal Maximum Rate of Interest8 ?% (§34-31-20)
Penalty for Usury (Unlawful Interest Rate)Usury penalty laws repealed June 25, 1982, but old law may apply to transactions before then (formerly §34-31-50)
Interest Rates on Judgments12% (§34-31-20)
ExceptionsSee South Carolina Consumer Protection Code (§37-1-101 et seq.)

Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.

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