Personal Loans in Utah: What Lenders May Charge

How Utah handles loan prices

The Utah Consumer Credit Code is Title 70C of the Utah Code. Its basic rule on price, § 70C-2-101, lets the lender and borrower agree on the finance charge and other charges and fees, except where another provision of the title restricts or covers them. There is no rate tier, no flat cap and no fee ceiling for an ordinary personal installment loan.

That puts the work of comparing on you. The APR on your Truth in Lending disclosure is the one figure that shows the interest and most fees on the same scale. Two offers for the same $2,000 can differ by many points, and both can be legal. Ask each lender for the APR, the finance charge and the total of payments for the same amount and term, and compare all three.

How Utah compares with its neighbors

On the NCLC comparison of a $2,000 two-year loan, Colorado and Wyoming cap that loan at about 31% APR, New Mexico at 36%, Nevada at 40% and Arizona at 41%. Idaho, like Utah, has no numeric cap. Your state of residence and the lender's license decide which rules apply, not where the lender is based. The state rules map shows every state side by side.

Who must file with the state

The DFI says the Consumer Credit Code generally applies to lending to Utah residents for personal, family or household purposes, selling on credit, consumer leases, taking assignments of consumer debt and collecting consumer credit debt. A business that is subject to the code must file a Consumer Credit Notification (CCN) through the Nationwide Multistate Licensing System. The DFI places the duty on the business: those who conduct consumer credit activities must determine whether the code covers them.

• Larger transactions: the code has an exemption threshold under § 70C-1-202, which the DFI gives as $73,400 from January 1, 2026.
• Banks and credit unions answer to their own charters and banking regulators, and a bank may charge the rates its home state allows. If an online lender says a bank makes your loan, ask who the lender of record is.
• Payday and auto title loans follow separate Utah laws. Our sister site Lendmira covers them on its Utah lending laws page.

If a lender asks for a fee before it will approve or fund the loan, treat it as a warning sign; how to verify a lender explains what to check.

Check a lender and file a complaint

1. 1 Check the filing in NMLS Consumer Access: the DFI says this is where you can confirm that a company has submitted a Consumer Credit Notification.
2. 2 Compare APRs from at least two or three lenders, including a credit union, since no cap limits the price.
3. 3 Keep the loan papers: the Truth in Lending disclosure, the agreement and any messages about fees.
4. 4 Complain to the DFI through its file a complaint page, or call the department at 801-538-8830.
5. 5 Send a complaint to the CFPB as well if the lender is a bank or a bank partner, or if you are unsure who regulates it.

Questions people ask