Fast Loan Express
Updated April 2026

Best Personal Loans in South Dakota (2026)

Avg APR
13.25%
Max APR
36%
Avg Loan Amount
$8,200
Avg Credit Score
705
Monthly Payment
$339
$10k / 36 mo
YoY Trend
0.36%

South Dakota Lending Regulations

Regulatory body: SD Division of Banking

Key regulation: 36% APR cap under state ballot measure (2016)

Expected Rates by Credit Score in South Dakota

What borrowers in South Dakota can expect based on their credit tier — based on a $10,000 / 36-month loan.

Excellent (740+)
7.70%
South Dakota average
Good (670–739)
11.50%
South Dakota average
Fair (580–669)
17.50%
South Dakota average
Poor (<580)
26.25%
South Dakota average

Borrowers with excellent credit in South Dakota pay an average of 18.55% less than those with poor credit. Improving your score before applying can save thousands over the life of your loan.

How South Dakota Compares

National Rank
#26
of 50 states (lowest APR)
SD Avg APR
13.25%
National Avg APR
13.38%
Active Lenders
20

South Dakota ranks #26 nationally with an average APR 0.13% below the national average — making it one of the more affordable states for personal loans. See the full state-by-state data study →

Top Lenders Available in South Dakota

SoFi
4.9
APR: 8.99%-29.99% · $5,000-$100,000
Check Rate
Upgrade
4.7
APR: 9.99%-35.99% · $1,000-$50,000
Check Rate
LightStream
4.9
APR: 6.49%-25.99% · $5,000-$100,000
Check Rate
LendingClub
4.5
APR: 9.57%-35.99% · $1,000-$40,000
Check Rate
Best Egg
4.5
APR: 5.99%-35.99% · $2,000-$50,000
Check Rate
Upstart
4.3
APR: 7.80%-35.99% · $1,000-$50,000
Check Rate
Discover
4.6
APR: 7.99%-24.99% · $2,500-$40,000
Check Rate
Avant
4.2
APR: 9.95%-35.99% · $2,000-$35,000
Check Rate
PenFed Credit Union
4.6
APR: 7.74%-17.99% · $600-$50,000
Check Rate
Universal Credit
4.0
APR: 11.69%-35.99% · $1,000-$50,000
Check Rate

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Personal Loans in South Dakota: FAQ

The maximum APR for personal loans in South Dakota is 36%. The actual average APR borrowers pay is 13.25%, well below the legal cap. 36% APR cap under state ballot measure (2016). Always check the specific terms of your loan offer as regulated lenders may have different caps depending on loan size and type.
The average credit score for personal loan borrowers in South Dakota is 705. Borrowers with excellent credit (740+) average 7.70% APR, while those with fair credit (580–669) average 17.50%. However, some lenders accept scores as low as 560-580. Your income, debt-to-income ratio, and employment history also factor into approval decisions.
The average personal loan amount in South Dakota is $8,200. Most lenders operating in South Dakota offer loans from $1,000 to $100,000, depending on your creditworthiness and income. Pre-qualifying with multiple lenders lets you see your actual loan amounts without impacting your credit score.
There are 20 lenders actively serving borrowers in South Dakota, including SoFi, Upgrade, LightStream, LendingClub, Best Egg, Upstart, Discover, Avant, PenFed, and Universal Credit. Each lender has different credit requirements, rates, and loan amounts. We recommend comparing offers from at least 3-4 lenders.
Both options have advantages. Online lenders typically offer faster approvals (often same-day), easier applications, and competitive rates — especially for borrowers with fair credit. Traditional banks and credit unions in South Dakota may offer lower rates for existing customers with excellent credit. Compare both to find the best deal for your situation.

Compare rates in South Dakota

Pre-qualify with no impact to your credit score

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Lauren Vasquez
Lauren Vasquez
Senior Financial Analyst · CFP®, Former Loan Officer

Lauren Vasquez is a Certified Financial Planner with over 12 years of experience in personal lending and consumer finance. She spent eight years as a senior loan officer at Wells Fargo before joining Fast Loan Express to help everyday borrowers cut through the noise and make smarter decisions.