TL;DR: SACC Loans in Australia
- A SACC (Small Amount Credit Contract) is a regulated loan from $300 to $2,000, repaid over 16 days to 12 months.
- Fees are capped by law at 20% establishment plus 4% per month - there's no separate "interest rate" the way a bank loan has one.
- SACC repayments are legally capped so you'll never owe more than twice your original loan amount, no matter what happens.
- Lenders must check your last 90 days of bank statements before approving a SACC loan. It's the law.
- SACC & MACC are different regulated products with different amount ranges. See our separate MACC guide for loans above $2,000.
SACC in plain English: what it actually is
A Small Amount Credit Contract, or SACC, is a specific type of regulated loan in Australia. It covers amounts from $300 to $2,000, repaid over a term of 16 days to 12 months (commonly 3 to 9 months in practice).
You might also see SACC loans referred to informally as "payday loans." That name comes from an older, less regulated version of small lending that existed before 2013 reforms introduced strict fee caps, mandatory affordability checks, and other consumer protections. Today's SACC is a genuinely different, more tightly regulated product. The name "payday loan" has stuck around in casual use, but it doesn't accurately describe the current legal framework.
The 3 things that make a loan a SACC
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The amount is between $300 and $2,000
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The term is between 16 days and 12 months
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It's unsecured. That means, no asset is used as a collateral
How much you can borrow & for how long?
CashLab's SACC loans start at $300, which is slightly lower than the $500 floor some other lenders advertise. Both are within the legal range. $300 is simply where CashLab has chosen to start. The maximum for any SACC loan, regardless of lender, is $2,000.
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Minimum: $300 (CashLab's floor. Some lenders start at $500)
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Maximum: $2,000 (the legal ceiling for every SACC lender)
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Term: 16 days to 12 months, most commonly 3 to 9 months
If you need more than $2,000, that moves into MACC territory, which is a related but separate product covered in our full MACC guide.
What a SACC actually costs (real numbers)?
This is the part most explainers skim over. SACC fees are capped by law at two components: a one-off establishment fee of 20% of the loan amount, and a monthly fee of 4% of the loan amount for every month of the term.
Here's what that looks like with real numbers.
| Loan amount | Establishment fee (20%) | Monthly fee (4%) | Term | Total repayable |
|---|---|---|---|---|
| $500 | $100 | $20/month | 4 months | $680 |
| $1,000 | $200 | $40/month | 6 months | $1,440 |
| $1,500 | $300 | $60/month | 6 months | $2,160 |
| $2,000 | $400 | $80/month | 9 months | $3,120 |
These are legal maximums. No licensed SACC lender can charge more than 20% establishment plus 4% per month, regardless of your credit history or how the loan is marketed.
What SACC lenders cannot charge you
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No interest rate on top of the establishment and monthly fees
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No default fees beyond the actual cost the lender incurs from your default
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No fees for early repayment
Why "SACC interest rate" isn't quite the right question?
If you've searched for the "SACC loan interest rate," here's the honest answer: SACC loans don't technically have an interest rate the way a bank loan or credit card does. They're fee-based, using the 20% establishment fee and 4% monthly fee structure covered above, instead of a percentage rate that compounds over time.
If you want to compare a SACC's cost to something rate-based for context, the effective cost varies significantly depending on the loan term. Shorter terms have a higher effective annual rate and longer terms lower. Simply because the establishment fee is fixed regardless of how long you take to repay. This is a structural feature of the product and not a way for lenders to hide cost. The dollar figures in the table above are the real, complete cost regardless of how you express them as a rate.
Consumer protections you actually have
Beyond the fee caps, several legal protections apply specifically to SACC loans.
The maximum you could ever repay
By law, the total amount you can ever be required to repay on a SACC loan, including all fees, is capped at double the amount you originally borrowed. If you borrowed $1,000, the absolute maximum you could ever owe is $2,000, even in the event of missed payments or a restructured arrangement. This exists specifically to prevent the kind of spiraling debt that older, unregulated small lending was known for.
The 90-day bank statement check
Before approving a SACC loan, a lender is legally required to review your last 90 days of bank statements as part of assessing whether the loan is suitable for you. This applies to every licensed SACC lender and it's a regulatory requirement.
The 10% protected earnings rule
SACC repayments are capped at 10% of your net income. This rule exists to make sure repayments stay genuinely manageable rather than consuming an unreasonable share of your income.
No repeat rollovers
Lenders cannot refinance a SACC loan into a new SACC loan in a way designed to keep you in continuous debt. Responsible lending obligations require a fresh affordability assessment each time.
Your right to AFCA
If something goes wrong with a SACC loan, every licensed lender is required to be a member of the Australian Financial Complaints Authority (AFCA), giving you a free, independent path to raise a dispute.
Who a SACC is (and isn't) right for?
A SACC loan is designed for a specific kind of situation: a real, short-term gap between now and your next payday or income event, for an amount you can comfortably repay within the loan term.
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Right fit: a one-off expense like a car repair, appliance breakdown, or bill you can repay within a few months
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Consider first: the No Interest Loans Scheme (NILS) if you're on a low income, or a Centrelink advance payment, if eligible. See our emergency loans guide for the full list of free options
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Not the right fit: ongoing or recurring money shortfalls, which are better addressed with free financial counseling (1800 007 007) than repeated borrowing
SACC vs MACC vs personal loan, briefly
If you're weighing a SACC against a larger loan option, here's the short version:
| SACC | MACC | Bank Loan | |
|---|---|---|---|
| Amount | $300-$2,000 | $2,001-$5,000 | Usually $5,000+ |
| Term | 16 days-12 months | 16 days-24 months | 1-7 years |
| Cost Structure | 20% + 4%/month | $400 + 48% p.a | Interest rate + fees |
| Typical Approval Time | Same day possible |
Same day possible |
Days to weeks |
What to check before applying to any SACC lender?
Because SACC loans are offered by a wide range of lenders, it's worth knowing what to verify before applying anywhere, including with CashLab.
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Search the lender's name on ASIC's licence register before applying on asic.gov.au
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A legitimate lender will have a published Target Market Determination you can read
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Look for a real street address Check for AFCA membership, which gives you a dispute resolution path if something goes wrong
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Treat any fee quote above 20% establishment + 4%/month as a sign something is wrong. It would mean the lender isn't complying with the legal cap
Why CashLab offers SACC loans?
CashLab (Villashore Pty Ltd, ABN 67 595 859 152) operates under credit authorisation number 390571. Our SACC loans range from $300 to $2,000, with the same fee structure and consumer protections outlined throughout this guide.
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Physical stores in Midland and Geraldton, plus online applications across Australia
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Whether your income comes from a full-time job, casual shifts, self-employment, or Centrelink, the same application process applies
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Every fee we charge sits at or below the legal cap - there's no markup hiding in the fine print
How to apply for a CashLab SACC loan
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Start with the online form, which takes a few minutes
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Attach your recent bank statements, ID, and proof of income
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We review the application against the affordability requirements outlined above
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If you'd rather not do this online, our Midland and Geraldton stores take walk-in applications too.
Important information
This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
It can be expensive to borrow small amounts of money, and borrowing may not solve your money problems. Check your options before borrowing:
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For information about other options for managing bills and debts, call 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
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Talk to your electricity, gas, phone, or water provider to see if you can work out a payment plan.
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If you're on government benefits, ask if you can receive an advance from Centrelink at servicesaustralia.gov.au/advancepayments.
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The government's MoneySmart website (moneysmart.gov.au) shows you how small amount loans work and suggests other options that may help.
CashLab (Villashore Pty Ltd, ABN 67 595 859 152) operates under credit authorisation number 390571.
Comparison rate warning: comparison rates shown elsewhere on our site apply only to the example loan amount and term selected and may not include all fees and charges - different amounts or terms will result in a different comparison rate.
Full terms are available in our Target Market Determination and Credit Guide.