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DOWNLOAD this South Carolina Promissory Note Form in order to document an agreement between parties to lend a specified amount of money at a specified interest rate as limited by South Carolina law.  The lender and borrower may also specify in this form how long it will take to pay back the loan, what the terms of repayment are and whether or not the funds lent will be secured with collateral.

USURY

The legal rate of interest in South Caroina, unless ortherwise agreed in writing is 8.75% per year.  The maximum rate on a consumer loan less than $25,000 is 12% per year.  SC ST § 37-3-201

 

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