South Carolina Prejudgment Interest Rate
United States South Carolina’s prejudgment interest rate — when a court awards it.
Set by statute Fixed by statute
South Carolina prejudgment interest is 8.75% per year, as simple interest under S.C. Code Ann. § 34-31-20(A). LIQUIDATED / ASCERTAINABLE claims only. Prejudgment interest is recoverable "as a matter of right" only where the amount claimed is certain or capable of being reduced to certainty (e.g.,…
When South Carolina prejudgment interest applies
LIQUIDATED / ASCERTAINABLE claims only. Prejudgment interest is recoverable "as a matter of right" only where the amount claimed is certain or capable of being reduced to certainty (e.g., by a mathematical calculation or a fixed measure of recovery existing when the claim arose) — Butler Contracting; Smith-Hunter; Dixie Bell. The proper test is whether the MEASURE of recovery (not necessarily the amount) was fixed by conditions existing when the claim arose.
When it starts accruing
Runs from the date the sum became due and demandable — the point at which, by agreement of the parties or operation of law, payment was demandable and the amount was certain or ascertainable (Butler Contracting; Smith-Hunter). For contracts, typically the date payment was owed under the agreement.
Simple or compound
Simple. The 8.75% legal/prejudgment rate under subsection (A) is applied as simple interest; "compounded annually" is specified only for the separate post-judgment rate in subsection (B).
→ Compare with the South Carolina post-judgment interest rate (interest after judgment)
Prejudgment interest under S.C. Code Ann. § 34-31-20(A) — 8.75% (simple interest). This is PREjudgment interest (accruing before entry of judgment) and is separate from South Carolina’s post-judgment rate; availability is limited by claim type (see the page). Verify against the statute text. Not legal advice.
Effective-date history
| Effective date | Rate | Basis |
|---|---|---|
| July 9, 2026 | 8.75% | Statute |
Source & provenance
Latest value retrieved July 10, 2026 (02:55 UTC) from the official source:
https://www.scstatehouse.gov/code/t34c031.php