Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / SD
Personal loans, banking, insurance, and debt help in South Dakota
South Dakotans use personal loans to consolidate credit card debt, cover emergencies, finance home improvements, or manage major expenses, typically through unsecured loans priced on credit and income.
27lenders in the dataset
SDstate guide
$1,270/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in South Dakota
South Dakotans use personal loans to consolidate credit card debt, cover emergencies, finance home improvements, or manage major expenses, typically through unsecured loans priced on credit and income.
Interest-rate law
South Dakota's 'no cap' reputation is outdated for a typical borrower: the general usury statute is uncapped for written contracts (why credit card issuers relocated there), but state-licensed money lenders have been capped at a flat 36% APR since a 2016 ballot measure. Bank-chartered lenders remain exempt and uncapped.
| Loan range | Rate | Statute |
|---|---|---|
| Licensed 'money lender' loans, any size | Flat 36% all-in APR | Initiated Measure 21 (2016) |
| Bank-chartered lender loans | Uncapped under general usury statute | South Dakota general usury law |
Lender complaints: South Dakota Division of Banking
02 / Lender directory
Lenders by credit profile
Good to excellent credit
Axos Bank
- Credit profile
- Excellent
- APR range
- 11.79% – 20.84%
- Loan amount
- $7,000 – $50,000
Good to excellent credit
Citi
- Credit profile
- Good - Excellent
- APR range
- 9.99% – 17.49%
- Loan amount
- $2,000 – $30,000
Good to excellent credit
Discover
- Credit profile
- Good - Excellent
- APR range
- 6.99% – 24.99%
- Loan amount
- $2,500 – $40,000
Good to excellent credit
Happy Money
- Credit profile
- Good
- APR range
- 7.95% – 35.99%
- Loan amount
- $5,000 – $50,000
Good to excellent credit
LightStream
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
PenFed
- Credit profile
- Good
- APR range
- 7.99% – 17.99%
- Loan amount
- $500 – $50,000
Good to excellent credit
Prosper
- Credit profile
- Good
- APR range
- 8.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Good to excellent credit
Reach Financial
- Credit profile
- Not specified
- APR range
- 5.99% – 35.99%
- Loan amount
- $3,500 – $40,000
Good to excellent credit
Rocket Loans
- Credit profile
- Good
- APR range
- 8.01% – 29.99%
- Loan amount
- $2,000 – $45,000
Good to excellent credit
SoFi
- Credit profile
- Good - Excellent
- APR range
- 8.74% – 35.99%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
USAA
- Credit profile
- Good - Excellent
- APR range
- 9.89% – 18.51%
- Loan amount
- $2,500 – $100,000
Good to excellent credit
US Bank
- Credit profile
- Not specified
- APR range
- 8.74% – 24.99%
- Loan amount
- $1,000 – $50,000
Good to excellent credit
Wells Fargo
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.99%
- Loan amount
- $3,000 – $100,000
Fair credit
60MonthLoans
- Credit profile
- Fair
- APR range
- 25% – 36%
- Loan amount
- $2,600 – $10,000
Fair credit
Achieve
- Credit profile
- Fair
- APR range
- 6.25% – 35.99%
- Loan amount
- $5,000 – $50,000
Fair credit
Avant
- Credit profile
- Poor to Good
- APR range
- 9.95% – 35.99%
- Loan amount
- $2,000 – $35,000
Fair credit
Best Egg
- Credit profile
- Fair
- APR range
- 6.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Fair credit
Happen Bank (formerly LendingClub)
- Credit profile
- Fair
- APR range
- 7.04% – 35.99%
- Loan amount
- $1,000 – $60,000
Fair credit
LendingPoint
- Credit profile
- Fair
- APR range
- 7.99% – 35.99%
- Loan amount
- $1,000 – $36,500
Fair credit
Navy Federal Credit Union
- Credit profile
- Fair - Excellent
- APR range
- 8.74% – 18%
- Loan amount
- $250 – $50,000
Fair credit
Oportun
- Credit profile
- Fair
- APR range
- N/A – 35.95%
- Loan amount
- $300 – $10,000
Fair credit
Upgrade
- Credit profile
- Fair
- APR range
- 7.74% – 35.99%
- Loan amount
- $1,000 – $50,000
Fair credit
Upstart
- Credit profile
- Fair
- APR range
- 6.20% – 35.99%
- Loan amount
- $1,000 – $75,000
Poor or limited credit
Integra Credit
- Credit profile
- Poor
- APR range
- 149% – 399%
- Loan amount
- $500 – $3,000
Poor or limited credit
NetCredit
- Credit profile
- Poor
- APR range
- 34% – 99.99%
- Loan amount
- $1,000 – $10,000
Poor or limited credit
OneMain Financial
- Credit profile
- Poor
- APR range
- 18% – 35.99%
- Loan amount
- $1,500 – $20,000
03 / Debt consolidation
Debt consolidation
If a lender is a licensed money lender, South Dakota's flat 36% cap applies regardless of loan size. If bank-chartered, no cap applies, so comparing offers directly matters even more.
04 / Banking and credit unions
Banking in South Dakota
National banks offer scale and broad networks, while South Dakota-based and regional banks compete on relationship banking and local lending decisions.
Banks listed
- Wells FargoNational bank.
- US BankNational bank, headquartered in Minneapolis, MN.
- Great Western BankHeadquartered in Sioux Falls, SD.
- Dacotah BankHeadquartered in Aberdeen, SD.
- First National BankHeadquartered in Omaha, NE, with a significant South Dakota presence.
- BankWestHeadquartered in Pierre, SD.
Credit unions
Credit unions are member-owned, not-for-profit institutions offering lower rates and fewer fees than banks, with membership tied to geography, employer, or affiliation.
South Dakota credit unions posted median membership growth of about 4.1% year over year (Q4 2025 NCUA data), one of the stronger figures in the comparison, alongside the highest median loan-to-share ratio (~108%) of any state compared.
Dakotaland Federal Credit Union began in 1934 among Armour Meat Packing employees and, after that plant closed in 1983, expanded to a 51-county rural district charter by 2024. Sentinel Federal Credit Union connects to Ellsworth Air Force Base. South Dakota eliminated interest rate caps entirely in 1980 to attract Citibank's credit card operations, though credit unions themselves remain capped at 18% under federal NCUA rules regardless of state usury law.
Federally insured credit union deposits are protected up to $250,000 through the National Credit Union Share Insurance Fund.
Credit unions listed
05 / Debt settlement
Debt settlement
Regulated under S.D. Codified Laws § 37-34-1 et seq. (debt adjusting), but there's ambiguity in public sourcing about whether it's a true UDMSA enactment with the standard 30%-of-savings fee cap. The federal Telemarketing Sales Rule's ban on advance fees is the baseline protection to rely on.
Companies listed in the dataset
06 / Insurance
South Dakota insurance
Regulator
South Dakota Division of Insurance
Insurance regulator websiteAuto insurance
25/50/25
South Dakota requires liability insurance with minimum limits of $25,000 per person and $50,000 per accident for bodily injury, plus $25,000 for property damage. Uninsured and underinsured motorist coverage is also required.
Homeowners and renters
$1,270/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $117/yr
South Dakota carries real exposure to severe thunderstorms, hail, and tornadoes during warmer months, along with harsh winter storms. Renters insurance premiums rank near the very bottom (50th) nationally.
07 / Questions
South Dakota FAQs
How do I file a complaint against a lender in South Dakota?
Contact the South Dakota Division of Banking, which licenses and supervises consumer lenders operating in South Dakota.
How do I file a complaint against my insurance company in South Dakota?
File with the South Dakota Division of Insurance.
What's the maximum interest rate a lender can legally charge on a personal loan in South Dakota?
A state-licensed money lender is capped at a flat 36% all-in APR, at any loan size, following a 2016 ballot measure. A bank-chartered lender is exempt and remains genuinely uncapped under the general usury statute.
Are payday loans legal in South Dakota, and are there caps on fees or loan amounts?
No, not in the traditional triple-digit-APR sense. South Dakota's 2016 ballot measure (Initiated Measure 21) capped payday, installment, and auto title loans made by licensed money lenders at a flat 36% APR, effectively ending traditional payday lending in the state.
How long can a debt collector legally pursue an unpaid debt in South Dakota before the statute of limitations runs out?
Written and oral contracts both carry a 6-year statute of limitations (SDCL § 15-2-13). UCC sale-of-goods contracts get a shorter 4-year window.
What's the difference between a debt consolidation loan and debt settlement for someone living in South Dakota?
A debt consolidation loan pays off debts in full with new borrowed money on a fixed schedule. Debt settlement negotiates reduced payoffs but damages credit. South Dakota's debt adjusting statute has some ambiguity about its fee structure, so confirming a provider's standing matters more here.
