Utah Rates & Terms
The maximum loan amount for Utah residents is $3,000.
Line of Credit
Fees and Charges
The finance charge for a line of credit loan is calculated based upon the sum of the amount of the actual daily balance during the billing cycle, divided by the number of days in the billing cycle. We will assess interest for each periodic billing cycle on your account by applying a daily periodic rate of 0.986301 to the average daily balance on your account for that billing cycle. This corresponds to an Annual Percentage Rate (APR) of 360.00%.
A minimum payment of 2.00% of the outstanding principle plus any past due amount, applicable interest, and fees will be due at the end of each billing cycle. A late fee of up to $10 may be charged to past due accounts on the 11th day past due. There is no penalty for early payoff.
The term of the loan is open-ended. As the loan is repaid a corresponding amount of credit will be made available. Line of credit payments will typically be scheduled around your paydays; either bi-weekly, bi-monthly, or monthly.
Governing Law for Utah
The loan agreement is governed by the applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active-duty military personnel and their dependents which carry an APR over 36%.
NPAUT, LLC dba Net Pay Advance is a supervised consumer lender licensed by the Utah Department of Financial Institutions.