Loan Payments
Bank of Utah offers two loan payment options for lending customers who do not have a bank account (checking or savings) with Bank of Utah.*
One-time and recurring payment options are available for the following types of loans:
- mortgage
- consumer loans
- commercial loans
*If you have a bank account with us, you can schedule your loan payments for free through Bill Pay, via Bank of Utah's Online Banking.
Learn more about each option and choose to make a one-time payment or set up recurring payments below.
A ONE-TIME payment is good if:
- Your mortgage loan is being sold in the near future;
- You want to make a one-time, principal-only payment to your mortgage, consumer or commercial loan; or
- You need to make a quick payment to your mortgage, consumer or commercial loan.
Payment methods and payment information:
- Pay with a debit card or from an account at another financial institution.
- $7.95 fee per one-time payment
A RECURRING payment is good if:
- You would rather make scheduled, recurring payments (full payment, full payment + added principal or principal only) through Bank of Utah — not through your financial institution's online banking service;
- You did not want to enroll in Bank of Utah's auto pay feature for loan customers; or
- You did set up auto pay but would like to add more to your already-established automatic payment.
Payment methods and payment information:
- Pay with a debit card or from an account at another financial institution.
- There is no fee for recurring payments.
Frequently Asked Questions
How is Making a Payment Here, in Bank of Utah's Online Loan Payment Center, different from Online Bill Pay?
Bank of Utah’s Online Loan Payment Center is best for individuals or businesses who have loans through Bank of Utah, but do not have a bank account with Bank of Utah.
If you have a bank account with us, it is best to schedule your loan payments through Bill Pay, via Bank of Utah's Online Banking.
What Do I Need to Make a Payment?
To make a one-time or recurring payment, you will need the following information readily available:
- Your loan number
- Your debit card, or the account number and routing number from your financial institution, to pay
Once I Submit My Loan Payment (Either a One-Time Payment or Recurring Payment), When Will My Payment Be Posted?
Payments post the next business day.
How is the Fee Assessed for One-Time Payments? Do I Get Charged $7.95 Each Time I Make a One-Time Payment?
Yes, the $7.95 fee is charged every time you make a one-time payment. If you set up recurring payments, there is no fee.
If I Set Up a Recurring Payment, and My Loan is Sold to Another Institution, Do I Need to Stop Payments Through Bank of Utah or Do You Forward My Payments to the New Institution?
The payments to Bank of Utah would need to be stopped. To stop a payment, log into the profile you created when you set up the recurring payment, select "Auto Pay" and then delete the payment you want to cancel.
How Far in Advance Does a Recurring Payment Need to Be Set Up?
You should set up your recurring payment at least 1 business day prior to the date your payment is due.
