> This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

# Interest in South Carolina

In South Carolina, the legal rate of interest on a judgment is set by statute. Under S.C. Code § 34-31-20, the post-judgment interest rate is 15% per annum. This rate applies automatically to the principal amount of the judgment from the date it is entered until it is paid in full. The statute does not require the judgment creditor to take any additional steps to claim this interest; it accrues by operation of law. The calculation is straightforward, as demonstrated in the worked example below. For a precise estimate of interest on a specific judgment, the DocketMath calculator can compute the total owed based on the judgment amount and the applicable time period.

## Interest calculation example

For a South Carolina this interest calculation, use the verified rate from the current rule packet: **15%**. The verified packet cites S.C. Code § 34-31-20 (https://www.scstatehouse.gov/code/t34c031.php).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 15% = 0.15
- Multiply principal by the rate and the day fraction.
- Example interest: **$1,500.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

## Interest calculation example

For a South Carolina this interest calculation, use the verified rate from the current rule packet: **15%**. The verified packet cites S.C. Code § 34-31-20 (https://www.scstatehouse.gov/code/t34c031.php).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 15% = 0.15
- Multiply principal by the rate and the day fraction.
- Example interest: **$1,500.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

**Estimate your own result:** every situation has exceptions that can change the outcome. Use the interest calculator to estimate your specific figure.

---
_This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction._


In South Carolina, the legal rate of interest on a judgment is set by statute. Under S.C. Code § 34-31-20, the post-judgment interest rate is 15% per annum. T

Interest in South Carolina

ANO-831 surgery 2026-04-24: (1) judgment branch — wrong rate 8.25%, fabricated 12%-per-annum statute text, fabricated § 34-31-20(B) 8% state-judgment subrule, fabricated § 34-31-20(C) 24%/yr child-support subrule (no such subsection — child-support interest is governed by S.C. Code Title 63 / DSS regs, not § 34-31-20). Replaced with correct WSJ prime+4% formula keyed to SC Supreme Court annual order. (2) late_payment — fabricated § 34-31-20(A) written-contract paraphrase with 15% cap (no statutory 15% cap in § 34-31-20); fabricated § 34-31-20(B) 1%/month late-fee subrule (no such provision exists). Removed. § 34-31-20(A) legal rate corrected to 8.75% with accurate statute text. (3) penalty — fabricated § 34-31-30 statutory-rate subrule (§ 34-31-30 addresses written-contract interest, not what was quoted) and fabricated § 34-31-80 compound-interest authorization (§ 34-31-80 is unrelated). Removed; rate notes corrected. (4) erisa — fabricated § 1132(a)(1)(B) 'compensatory_interest_rate: 1' field (ERISA sets no rate). Cleaned. (5) escrow — fabricated § 27-40-440 statute text and (a)/(b) subrules (§ 27-40-440 addresses landlord notice of rule changes; the quoted rent-trust/$25-interest language is invented). Removed. (6) security_deposit — fabricated § 27-40-410 3%-per-annum rate text and (A)/(B) subrules (no SC statute mandates security-deposit interest; § 27-40-410 covers return + 30-day itemization only). Removed. Also corrected effective_dates: § 34-31-20(B) prime+4% formula = 2005 Act 27 (not 2022); § 34-31-20(A) 8.75% = 1980 amendment (not 2023/2013). Renamed _ano_711_* envelope to _ano_710_research per ANO-831 stamp spec.

(9) in the event that the purchase of an insurance contract or insurance annuity in connection with termination of an individual’s status as a participant covered under a pension plan with respect to all or any portion of the participant’ s pension benefit under such plan constitutes a violation of part 4 of this title [1] or the terms of the plan, by the Secretary, by any individual who was a participant or beneficiary at the time of the alleged violation, or by a fiduciary, to obtain appropriate relief, including the posting of security if necessary, to assure receipt by the participant or beneficiary of the amounts provided or to be provided by such insurance contract or annuity, plus reasonable prejudgment interest on such amounts;

A lender, in connection with a federally related mortgage loan, may not require the borrower or prospective borrower— (1) to deposit in any escrow account which may be established in connection with such loan for the purpose of assuring payment of taxes, insurance premiums, or other charges with respect to the property, in connection with the settlement, an aggregate sum (for such purpose) in excess of a sum that will be sufficient to pay such taxes, insurance premiums and other charges attributable to the period beginning on the last date on which each such charge would have been paid under the normal lending practice of the lender and local custom, provided that the selection of each such date constitutes prudent lending practice, and ending on the due date of its first full installment payment under the mortgage, plus one-sixth of the estimated total amount of such taxes, insurance premiums and other charges to be paid on dates, as provided above, during the ensuing twelve-month period.

A money decree or judgment of a court enrolled or entered must draw interest according to law. The legal rate of interest is equal to the prime rate as listed in the first edition of the Wall Street Journal published for each calendar year for which the damages are awarded, plus four percentage points, compounded annually. The South Carolina Supreme Court shall issue an order by January 15 of each year confirming the annual prime rate. This section applies to all judgments entered on or after July 1, 2005. For judgments entered between July 1, 2005, and January 14, 2006, the legal rate of interest shall be the first prime rate as published in the first edition of the Wall Street Journal after January 1, 2005, plus four percentage points.

In all cases of accounts stated and in all cases wherein any sum or sums of money shall be ascertained and, being due, shall draw interest according to law, the legal interest shall be at the rate of eight and three-fourths percent per annum.

(a) Upon termination of the tenancy, property or money held by the landlord as security must be returned less amounts withheld by the landlord for accrued rent and damages which the landlord has suffered by reason of the tenant's noncompliance with Section 27-40-510. Any deduction from the security/rental deposit must be itemized by the landlord in a written notice to the tenant together with the amount due, if any, within thirty days after termination of the tenancy and delivery of possession and demand by the tenant, whichever is later. The tenant shall provide the landlord in writing with a forwarding address or new address to which the written notice and amount due from the landlord may be sent. If the tenant fails to provide the landlord with the forwarding or new address, the tenant is not entitled to damages under this subsection provided the landlord (1) had no notice of the tenant's whereabouts and (2) mailed the written notice and amount due, if any, to the tenant's last known address.

	(b) If the landlord fails to return to the tenant any prepaid rent or security/rental deposit with the notice required to be sent by the landlord pursuant to subsection (a), the tenant may recover the property and money in an amount equal to three times the amount wrongfully withheld and reasonable attorney's fees.

	(c) If a landlord (1) rents more than four adjoining dwelling units on the premises, and (2) imposes different standards for calculating security/rental deposits required of different tenants on the premises, then, prior to the consummation of the rental agreement, the landlord shall either post in a conspicuous place on the premises, or at the place at which rental is paid a statement clearly indicating the standards by which such security/rental deposits are calculated, or shall provide each prospective tenant with a statement setting forth the standards. If a landlord fails to comply with this subsection as to a tenant, the difference between the security/rental deposit required of the tenant and the lowest security/rental deposit required of any other tenant of a comparable dwelling unit on the premises is not subject to deductions for damages by reason of the tenant's noncompliance with Section 27-40-510.

	(d) This section does not preclude the landlord or tenant from recovering other damages to which he may be entitled under this chapter or otherwise.

	(e) Subject to the provisions of Section 27-40-450, the holder of the landlord's interest in the premises at the time of the termination of the tenancy is bound by this section.

HISTORY: 1986 Act No. 336, SECTION 1; 1994 Act No. 498, SECTION 1.

In all cases of accounts stated and in all cases wherein any sum or sums of money shall be ascertained and, being due, shall draw interest according to law, the legal interest shall be at the rate of eight and three-fourths percent per annum. (B) A money decree or judgment of a court enrolled or entered must draw interest according to law. The legal rate of interest is equal to the prime rate as listed in the first edition of the Wall Street Journal published for each calendar year for which the damages are awarded, plus four percentage points, compounded annually. The South Carolina Supreme Court shall issue an order by January 15 of each year confirming the annual prime rate. This section applies to all judgments entered on or after July 1, 2005.

interest in US-SC is governed by S.C. Code § 34-31-20.

Interest in South Carolina

Current verified answer

Authority and key facts

Interest in South Carolina

Interest calculation example

Interest calculation example