What is the statutory usury ceiling on loans secured by real estate in South Dakota?

In South Dakota, there is no statutory limit on the interest rate charged on loans secured by real estate. This means that lenders are not bound by a specific usury ceiling when it comes to charging interest rates for real estate loans. This can be contrasted with many states that impose strict caps on interest rates to protect consumers from excessively high rates. The absence of a usury limit allows for more flexibility in lending practices, enabling lenders to negotiate terms that reflect the risk associated with the loan and the market conditions. This characteristic of South Dakota's lending laws is significant for both borrowers and lenders, as it influences how loans are structured and the cost associated with borrowing against real estate.