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.
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 (max 8.75%). Includes collateral description and default remedies.
Create Secured Promissory NoteUnsecured 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: 3 years. Max interest rate: 8.75%.
Create Unsecured Promissory NoteInstallment 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 (8.75% max rate).
Create Installment Promissory NoteDemand 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 NoteSouth Carolina Usury Law and Note Requirements
South Carolina usury law is governed by South Carolina Circuit Courts. The maximum allowable interest rate is 8.75% (8.75% or Federal Reserve rate plus 4%). Penalties for exceeding the usury limit include: Forfeiture of all interest. The statute of limitations for enforcing a promissory note in South Carolina is 3 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 caps the maximum interest rate at 8.75% (8.75% or Federal Reserve rate plus 4%). Exceeding this limit may result in penalties: Forfeiture of all interest. 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. South Carolina's 3-year statute of limitations applies to written contracts, one of the shorter periods in the country.
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