Utah Flex-Pay Installment Loan

Rates and Terms

This product is no longer offered to customers in Utah. For our current Installment Loan product rates for Utah, please click here.

About the Installment Loan

A MoneyKey Flex-Pay Installment Loan is a small dollar loan from $200 to $1,000 with a longer repayment term (61 days to 10 months) than a typical payday loan. Your Flex-Pay Installment Loan will be paid back through a number of scheduled repayments that are set up to match your pay dates.

How much can I borrow?

The minimum loan amount for a Flex-Pay Installment Loan, in the State of Utah, is $200 and the maximum loan amount is $1,000. Whether an individual applicant will be approved, and the amount they will be approved for, is dependent on certain qualification criteria.

When do I pay back my loan?

Flex-Pay Installment Loans are paid back through a number of scheduled installments that are set to align with your pay dates. You may pay off your installment loan in full at any time without any prepayment penalties. You also have the option to make additional principal payments on top of your scheduled payment amount without any penalties. Contact one of our friendly Customer Care agents to discuss the options available to you.

MoneyKey encourages you to pay off your loan as quickly as possible to reduce the amount of finance charges in connection with your loan. Contact one of our Customer Care agents to discuss the options available to you.

How much will my Installment Loan cost?

MoneyKey charges a fee of $30 per $100 of the principal outstanding for each installment in your payment schedule for New Customers. For Returning Customers, MoneyKey charges $28 per $100 of the principal outstanding for each installment in your payment schedule. If you pay early, your fee will be adjusted accordingly.

The first four (4) payments of the Flex-Pay Installment Loan will consist of the fee only. Subsequent Installment payments will include the fee, plus an additional $50 towards the principal.

Below is an example of an Installment Loan payment schedule. The example is for a $300 Flex-Pay Installment Loan which has been extended to the maximum number installments offered to residents of Utah that receive their income once per month.

In the example below, the APR on a $300 loan is 404.58%, based on a loan term of ten (10) monthly installment payments over 10 months. THIS IS ONLY AN EXAMPLE for customers who receive their income once per month. The APR and repayment amount will vary depending on the individual loan term and amount.

The cost of your credit as a yearly rateThe dollar amount the credit will cost youThe amount of credit provided to you on your behalfThe amount you will have paid after you have made all payments as scheduled

*Annual Percentage Rate (APR) is the finance charge of your loan expressed as a yearly rate.

The Payment Schedule

Payment NumberPayment AmountPayment Due Date

Early Repayment Notice: There is no penalty to pay off your Installment Loan earlier than scheduled. If you want to make an early payment, or pay an additional amount over and above your scheduled installment to reduce the total amount owed, you may do so at any time by contacting MoneyKey by phone at 1-866-255-1668 or via email at customercare@moneykey.com. There are no penalties associated with such payments; in fact, MoneyKey encourages you to pay your loan off as quickly as possible to reduce the amount of finance charges you will pay in connection with the loan.

Are there additional charges?

No. There are no additional charges beyond what has been disclosed here.

Can I cancel my Installment Loan?

You can rescind your loan at no cost within three (3) business days of the effective date of your agreement by phone at 1-866-255-1668 or via email at customercare@moneykey.com. If you do rescind your loan, you will be responsible for returning the entire principal balance back to us. If you do not return the entire principal balance to us, your loan will remain in full force and effect and you will accrue fees on such outstanding principal balance.

Who funds the Flex-Pay Installment Loan?

All loans are funded by MoneyKey-UT, Inc., which has filed a Consumer Credit Notification in the State of Utah.

I have a few more questions

For additional questions, or if you would like to learn more about MoneyKey Flex-Pay Installment Loans in Utah, please call our Customer Care team at 1-866-255-1668 or check out the frequently asked questions (FAQs) for this product.

Authority to operate

Our Consumer Credit Notification filed with the State of Utah can be viewed by clicking on the image below.

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