There are many nuances and exceptions to this law. Corporations do not have a usury defense. There are a number of exceptions to this law. Judgment rate is fixed by the Court. Judgments bear interest at the legal rate.
Judgments bear interest at the same rate as the underlying debt.
The South Carolina Consumer Protection code provides regulations for maximum rates of interest for consumer transactions. Please consult with counsel for the latest rates. There is no other usury limit. Interest does not begin until 30 days after an account was due. There are a number of specific ceilings for different types of loans, please see counsel for information.