SAC or Table Price: Which Amortization System Is Right for You?

Your bank asked you to choose: SACSACVer tudo → or Table Price. The question seems simple, but the difference between the two systems can reach R$ 94,000 in the total cost of financing.

The distinction is not in the interest rate — it is the same in both cases. It is in how the bank amortizes the principal over time. This detail determines the size of the installment in the early years, the speed at which the outstanding balance falls, and how much you pay in interest in total.

For most profiles, SAC saves more. But Table Price exists for a reason — and there are situations where it is the only viable path. See the actual calculation before signing any contract.

SAC or Table Price: How Constant Amortization Works in SAC

Understanding the difference between SAC and Table Price begins with the concept of constant amortization. In SAC — Constant Amortization System — the bank divides the principal into equal installments over the entire term of the contract.

If you finance R$ 300,000 over 240 months, you pay R$ 1,250 in amortization every month, with no variation. What changes is the interest component: in month 1, it is charged on R$ 300,000; in month 60, on an already reduced balance. That is why the installment decreases month by month — the first one is always the largest in the contract.

For a financing of R$ 300,000, 240 months and nominal interest rate of 10.26% per year (Caixa Econômica Federal, TR adjustment):

• Installment in month 1: ~R$ 3,820 (R$ 1,250 amortization + R$ 2,570 interest)
• Installment in month 120: ~R$ 2,500
• Installment in month 240: ~R$ 1,254

The outstanding balance falls linearly. This is decisive for those who plan to use FGTS to amortize: in SAC, the same amount produces more effect because the basis for interest calculation reduces more quickly. Learn more about strategic FGTS use in financing.

The higher initial installment has a direct limitation: it requires higher income verification. The bank analyzes income commitment based on the first installment at approval time — the largest of all in the SAC contract.

How Table Price Works — and What the Fixed Installment Hides

In Table Price, the installment is identical from start to finish. This simplifies monthly planning — but does not mean the internal structure is advantageous.

In the first months, most of the installment goes to interest. The amortization of principal starts small and grows slowly over the years. The outstanding balance falls slowly at first — which has two direct consequences:

• You pay much more interest in total over the term
• An early amortization in the first years has less impact than in SAC

For the same financing (R$ 300,000, 240 months, 10.26% per year):

• Fixed installment: ~R$ 2,960/month
• Month 1: R$ 690 amortization + R$ 2,570 interest (almost all interest)
• Total paid by end of contract: ~R$ 710,000

The smaller installment at the start is not free — it is deferral of cost. The bill arrives in the accumulated interest over the last hundreds of months.

There is an additional risk in contracts indexed by TR with high rates: the outstanding balance can grow in the early years instead of falling. It is the phenomenon of negative amortization, more common in Price contracts during periods of high inflation. To understand how the index affects your contract, the choice between TR and IPCAIPCAVer tudo → matters as much as the amortization system.

SAC vs. Table Price: Which Saves More in Real Financing?

The direct comparison answers the concrete question: is the difference in total interest paid large enough to matter in practice?

With R$ 300,000 financed, 240 months and rate of 10.26% per year (Caixa Econômica Federal, TR):

Table Price costs R$ 94,000 more — the equivalent to 31% of the amount financed. For this additional cost to be financially worthwhile, you would need to invest the R$ 860/month difference in an investment that returned more than the nominal interest rate of the financing for 20 consecutive years. In practice, this rarely occurs consistently.

The argument of “smaller installment at the start” only works in specific cases — not as a general decision rule.

When Each System Makes Sense — and How to Decide Without Error

SAC and Table Price serve distinct profiles. Choosing solely by the criterion “which has a smaller installment” is the most common trap.

The decision revolves around three practical questions: does the SAC initial installment fit within 30% of income commitment? Will the contract last more than 10 years? Is there a plan to amortize with FGTS or own capital over the term? If all three answers are yes, SAC almost always wins — and by a significant margin.

Profiles That Gain With SAC

SAC is the most efficient choice when:

• The initial installment fits within the income commitment limit (30%) — approval uses the largest installment as reference
• The plan includes partial amortizations every 2 years with FGTS: the fall in outstanding balance is more significant
• The property is primary residence for long term: the decreasing installment helps in years when other expenses grow
• The contract term exceeds 15 years: the difference in total cost increases over time

Profiles That Gain With Table Price

Table Price makes more sense in specific situations:

• Cash flow adjusted for investment: the fixed installment makes predictable whether the rent covers the financing, which is decisive in real estate leverage strategies.
• Income at the approval limit: when the SAC installment exceeds 30% of gross income, Price is sometimes the only way to approve the credit.
• Need for higher LTV: the ceiling at Caixa is 80% in SAC and 70% in Price — whoever has a smaller down payment may have no choice.
• Effective term is short: whoever plans to pay off in less than 5 years pays smaller difference in total interest, and installment predictability compensates.

Frequently Asked Questions — SAC or Table Price

Which system has the lowest initial installment?

Table Price always has the smaller installment at the start. In the R$ 300,000 example over 240 months, the difference is R$ 860/month. But that installment remains constant until the end, while in SAC it falls progressively — and the total cost of Price is ~R$ 94,000 higher.

Can I change systems after contracting the financing?

The portability of real estate financing allows you to switch banks and, in many cases, renegotiate the amortization system along with the rate. Within the same bank, the switch requires contractual renegotiation — it occurs, but is not standard. The cost of portability must be compared against the savings in interest over the remaining term.

Does FGTS work the same way in both systems?

FGTS amortizes the outstanding balance in both systems. The impact is greater in SAC: as the balance falls faster, the same amount of FGTS reduces future interest more. In Price, the balance in the early years falls slowly — FGTS has less leverage in that initial period.

Does Caixa offer both systems?

Yes. At Caixa Econômica Federal, the maximum LTV is 80% in SAC and 70% in Table Price. This difference can be decisive: whoever has a smaller down payment may not get approval in SAC and must use Price to make the total financing amount viable.

Is it possible to negotiate the system with the bank?

At some banks, yes — especially in high-value financings or for customers with good relationships. The strategy is to negotiate the financing rate and system at the same time, comparing offers from multiple banks.

How to Decide — and Simulate With Real Numbers

The decision between SAC and Table Price is not complicated. It requires two concrete calculations: how much the initial installment represents of your income and how long the contract will stay active.

For primary residence with a long term, SAC saves more in practically all scenarios. For investment with tight cash flow or short effective term, Price may be the path that makes the operation viable.

What no online calculator shows is the real TEC (Total Effective Cost) — which includes mandatory insurance, fees and the specific conditions of the appraised property. Before deciding, read about how real estate financing works in Brazil to have the complete map of the process.

Regente advises financing in Florianópolis with access to multiple banks and banking correspondent structure. Request a simulation without obligation and compare SAC and Price with your profile numbers.

Internal Links Used

• “difference between SAC and Table Price” → `/blog/sac-ou-tabela-price-diferenca` *(this article — canonical anchor)*
• “strategic FGTS use in financing” → `/blog/fgts-compra-imovel-vale-a-pena`
• “index affects your contract” → `/blog/indexador-financiamento-imobiliario-tr-ipca`
• “real estate leverage” → `/blog/alavancagem-imobiliaria-aluguel-paga-parcela`
• “real estate financing portability” → `/blog/portabilidade-financiamento-imobiliario`
• “negotiate the financing rate” → `/blog/negociar-taxa-financiamento-imobiliario`
• “how real estate financing works in Brazil” → `/blog/como-funciona-financiamento-imobiliario-brasil`
• category → `/blog/categoria/financiamento-imobiliario`
• CTA → `/fale-conosco`

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Many people choose Table Price for the argument of a smaller installment at the start. But in a R$ 300,000 financing over 240 months, that choice costs R$ 94,000 more in total interest — equivalent to 31% of the amount financed. SAC has a higher initial installment, but costs much less in total. The exception exists — and it is specific. I detailed both systems with real calculation on Regente’s blog.