South Carolina Promissory Notes

Create a legally compliant South Carolina promissory note that complies with state usury limits and includes all required provisions. Choose the note type that fits your lending situation, fill out the guided form, and download your professional PDF for $7.99.

Browse by document type across all states →

Secured Promissory Note

For loans backed by collateral such as a vehicle, property, or equipment. The lender can seize the collateral if the borrower defaults.

Complies with South Carolina usury limits (no statutory cap). Includes collateral description and default remedies.

Create Secured Promissory Note

Unsecured Promissory Note

For loans based solely on the borrower's promise to pay, with no collateral pledged. Common for personal and family loans.

South Carolina statute of limitations: 6 years. Max interest rate: No statutory cap.

Create Unsecured Promissory Note

Installment Promissory Note

For loans repaid in fixed periodic payments over a set term. Includes a detailed payment schedule with amounts and due dates.

Includes amortization-ready payment terms compliant with South Carolina usury law (no statutory cap).

Create Installment Promissory Note

Demand Promissory Note

Payable in full when the lender demands repayment. No fixed schedule or maturity date. Common for informal arrangements.

Payable on demand under South Carolina law. Includes usury savings clause and default provisions.

Create Demand Promissory Note

South Carolina Usury Law and Note Requirements

Max Interest Rate No statutory cap

Rate Description No general usury cap on a private person-to-person written note; lenders regularly making consumer loans are capped at 12% unless licensed. 8.75% legal rate absent a written agreement.

Default Rate 8.75%

Penalty for Exceeding Usury Limit No usury forfeiture applies to a private loan; for consumer credit covered by the Consumer Protection Code, the borrower may recover the excess charge plus a penalty set by the court.

Statute of Limitations 6 years

Notarization Required Not required (recommended)

Witness Required Not required

Governing Agency South Carolina Circuit Courts

Verified against official South Carolina usury statutes and South Carolina Circuit Courts guidance. Last reviewed October 2026. How we verify our legal data.

South Carolina usury law is governed by South Carolina Circuit Courts. The maximum allowable interest rate is No statutory cap (No general usury cap on a private person-to-person written note; lenders regularly making consumer loans are capped at 12% unless licensed. 8.75% legal rate absent a written agreement.). Penalties for exceeding the usury limit include: No usury forfeiture applies to a private loan; for consumer credit covered by the Consumer Protection Code, the borrower may recover the excess charge plus a penalty set by the court.. The statute of limitations for enforcing a promissory note in South Carolina is 6 years. Notarization is not required but recommended. Our documents are designed to comply with South Carolina law and include all required provisions.

Frequently Asked Questions

What is the maximum interest rate for a promissory note in South Carolina?

South Carolina does not have a statutory usury cap for most private lending transactions. If no rate is specified, the default legal rate is 8.75%. Our documents include a usury savings clause for additional protection.

Does a promissory note need to be notarized in South Carolina?

Notarization is not legally required in South Carolina, but it is strongly recommended. A notarized note is easier to enforce in court and helps verify the identities of all parties. While not required, having 1 witness is recommended.

How much does a South Carolina promissory note cost?

Each promissory note costs $7.99. Choose your note type, fill in your details through our guided form, and download your completed, South Carolina-compliant PDF instantly. Re-download available for 5 days.

What usury laws apply to South Carolina promissory notes?

South Carolina caps interest at 8.75% per year (the legal rate) for contracts that don't specify a rate (S.C. Code §34-31-20). Parties may agree to higher rates in writing - for most commercial transactions, South Carolina courts enforce the contracted rate. Consumer loans are subject to the South Carolina Consumer Protection Code with specific caps. For a negotiable promissory note, South Carolina applies the Uniform Commercial Code six-year period (S.C. Code 36-3-118), longer than its general three-year contract period.

Create Your South Carolina Promissory Note

Usury-compliant, professionally formatted, and ready to sign. Download your PDF instantly for $7.99.

Get Started