Loans in Utah: Payday and Installment Options

You can get payday, installment and title loans in Utah, but Utah law sets no interest rate cap on any of them, so the APR on your offer is the number to compare. Payday loans do have a time limit: 10 weeks.

What a Utah Loan Costs With No Rate Cap

Without a cap, the APR sets the price. DFI compares three rates on a $2,000 loan over 24 months. Here are the monthly payments for that loan and for $5,000 over 36 months:

Worked out at the three APRs in DFI's own comparison, since Utah law sets no cap. These aren't offers from lenders in our network; your rate can be lower or higher.

Over the full term, the $2,000 loan costs $3,342.40 in interest at 120%, against $304.72 at 14%. Payday loans run higher still: lenders reporting to DFI charged an average of 469.07% APR, which on the average $465 loan held 23 days comes to about $137.44.

Payday, Installment or Title: Utah's Three Loan Types

Payday loans, which Utah calls deferred deposit loans, come with a free right to cancel and an interest-free payment plan. See Utah payday loan rules.

Installment lenders file a Consumer Credit Notification with DFI through NMLS each year; about 947 had filed by DFI's 2026 report. DFI says the market sets their rates, subject to the Consumer Credit Code's unconscionability provision.

Title lenders lend against a car, mobile home or motorboat. Since May 5, 2025, a loan with a term over 364 days isn't a title loan under the Title Lending Registration Act.

Borrowing in Utah With Bad or No Credit

Each lender sets its own credit standards, and approval isn't guaranteed. With no rate cap, a thinner credit file can mean a far higher APR, so the offer you get matters more than in a capped state.

• Payday lenders pull your credit report before your first loan with them, and report your loans to a consumer reporting agency.
• DFI warns that car title loans tend to carry very high rates whether your credit is good or bad.
• To compare offers, DFI points you to the APR on your Truth in Lending disclosure.

Requesting a Utah Loan, Step by Step

1. Have your ID, proof of income and bank account details ready, and choose a term: payday loans end within 10 weeks, installment loans run longer.
2. Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
3. Compare the APR with at least one other offer, and check the lender's Utah record in NMLS before you sign.

Finding a Lender's Utah Registration

1. Search NMLS Consumer Access by the company's legal name or NMLS number.
2. Open the Utah record for your loan type: Deferred Deposit Lender Registration, Title Lender Registration or Consumer Credit Notification.
3. Check the status and that the name and address match your offer. A notification that isn't renewed expires on December 31.

DFI takes complaints only in writing: email [email protected], or send its complaint form by mail or fax to (801) 538-8894. For questions, call DFI at 801-538-8830.

• Free payday cancellation. Return the money by 5 p.m. the next business day and you owe no finance charge.
• An interest-free payday plan. Available once every 12 months, or any time you've paid 10 weeks of interest.
• No criminal threats. A payday lender can't threaten criminal charges if your payment bounces.
• No early payoff penalty. Since May 6, 2026, on closed-end consumer loans.
• Military borrowers. Federal law caps most loans to active-duty servicemembers and covered family members at a 36% Military APR.

Common Questions

Official Sources

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