Payson at a glance
- Population: about 24,054 residents, ranking 40th of 255 Census places in Utah (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 21,114 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: an increase of about 13.9% since the 2020 count (US Census Bureau).
- Rank among Utah places: 40th-largest of 255 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 84% of places in Utah rank below it by population (US Census Bureau).
- Coordinates: 40.0359, -111.7388 (US Census Bureau Gazetteer).
- Nearest larger cities: Spanish Fork, UT (7 mi); Springville, UT (11 mi); Provo, UT (15 mi); Orem, UT (18 mi); Pleasant Grove, UT (23 mi); US Census Bureau population estimates.
- Nearest smaller places: Elk Ridge, UT (4 mi); Salem, UT (4 mi); Woodland Hills, UT (5 mi) (US Census Bureau estimates).
What a personal loan costs in Payson
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Utah lending rules that apply in Payson
The table carries the Utah rate and licensing rules that apply to consumer loans made in Payson.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | No general cap — parties may agree to any rate; 10% per annum legal rate if no rate is specified (Utah Code § 15-1-1) Source says: The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract | Utah State Legislature as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must register with the Utah DFI (Utah Code Title 7, ch. 23) Source says: It is unlawful for a person to engage in the business of cashing checks or the business of deferred deposit lending in Utah | Utah State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lenders under the Utah Consumer Credit Code (Title 70C) must file a Consumer Credit Notification via NMLS Source says: Entities subject to the UCCC's notification requirement must file a Consumer Credit Notification (CCN) through the Nationwide Multistate Licensing System (NMLS). | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| State lending regulator | Utah Department of Financial Institutions (DFI) Source says: The Department of Financial Institutions regulates 19 banks, 22 credit unions, 17 industrial banks and 1 trust company. | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
How to compare offers in Payson
The steps below are worth completing first when you borrow in Payson:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Utah using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.