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The first insights into payday loan laws and what might be ahead

Small amount loans are recognised as integral to Australia's credit landscape

Small amount credit contracts (SACCs) "can be useful for consumers when they are used as an emergency source of funding for one-off expenses."

Loans and borrowers


Around the size of the average SACC

3 months

Approximate terms of the average SACC

The average income of an SACC borrower is generally lower than the Australian average. However, there appears to have been an increase in the average income since the Enhancements Act was passed.

Repeat borrowing


Average number of payday loans taken out by borrowers between July 2014 and July 2015


Households with customers that had a SACC that had more than one concurrently


Number of payday loans held by 5% of borrowers in the previous 90 days


Amount of applications received by a provider where borrowers had at least one SACC in the previous 90 days

"Repeat borrowing can put some consumers on a path to financial exclusion."

Consumer leases

593 million

Estimated revenue of the consumer lease industry in 2015-16


Number of consumer leases taken out by Centrelink recipients for household goods in March 2013

Elizabeth Barry

Elizabeth is a senior writer for specialising in personal finance. She enjoys reading PDSs so you don’t have to.

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4 Responses to The first insights into payday loan laws and what might be ahead

  1. Default Gravatar
    GILBERT | September 20, 2016

    Hi, am in kenya and we currently don’t have this service. I have tried to apply but the phone number and location is not accepted by your system. Can you help please so that i can apply and market you also in Kenya?.
    Thanks in advance.

    • Staff
      Elizabeth | September 21, 2016

      Hi Gilbert,

      Unfortunately these loans are only available in Australia. I’m unaware of what products are available in Kenya but you’ll need to contact a lender in Kenya if you’re looking to borrow money.

      Sorry I couldn’t be of more assistance,


  2. Default Gravatar
    manoj | September 11, 2016

    My financially problem so please help me my a/c number -XXXXXXX

    • Staff
      Elizabeth | September 12, 2016

      Hi Manoj,

      You’ve come through to, a financial comparison site and not a lender. You need to contact your lender directly to discuss financial hardship.



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