As well as offering a way to pay for essential household items, these affordable loans may help you to establish a repayment record to assist in future financial dealings.
The No-Interest Loans Scheme (NILS) provides people on low incomes with access to safe, fair and affordable credit. NILS loans may be provided for amounts up to $2,000 for the purchase of items such as a fridge, washing machine, education, medical expenses or car repairs.
There are:
To be eligible for NILS you need to:
The No Interest Loan Scheme (NILS) provides individuals and families on low incomes with access to safe, fair and affordable credit. Loans are available for up to $2,000 for essential goods and services such as fridges, washing machines, education, medical expenses and car repairs.
Household items such as fridges, washing machines, stoves, dryers, freezers and furniture, some medical and dental services, education essentials such as computers and text books, and some other items as requested.
Loans cannot be used for cash, bond, rent arrears, debt consolidation, holidays or bills.
| Loan Amount |
6 months (13 fortnights) |
12 months (26 fortnights) |
| $500 | $39 | $20 |
| $800 | $62 | $31 |
| $1000 | $77 | $39 |
| $1,200 | $93 | $47 |
| $1,500 | $116 | $58 |
Repayments are set up at an affordable amount up to 24 months.
There are no credit checks done, so a bad credit history will not prevent you from accessing a NILS loan, but you do need to be able to demonstrate that you can afford to repay the loan, based on your budget and documentation provided.
Check your eligibility using our interactive Get Help tool.
Depending on how much you borrow and how long your repayment period, the fortnightly repayment is usually between $30-$50.
Once you have had your interview and provided all the necessary documentation, your application will be assessed within 2-4 days and if approved, payment will be made directly to the supplier of your product.
No, payments are made directly to the supplier of your goods. You will not receive cash or money into your account.
There is no interest on NILS loans, you only pay back what you borrow.
You will need to provide paperwork to verify your identity, address, income, expenses and any debts you may be paying.
You will need to have an interview with a staff member, this can be done at an office or over the phone. Paperwork does need to be provided prior to a phone interview taking place.
The person who is taking out the loan does need to be the person we speak to. You are able to take out a loan, and then provide the goods or service to another person (ie pay for a dental procedure for a loved one) but the person taking out the loan would be responsible for the repayments.
You can work through the interactive Get Help tool and submit your details. A microfinance support worker will contact you to advise how to proceed.
Repayments are easily made through Centrelink deductions (Centrepay) each fortnight. Alternatively, a direct deposit can be made each fortnight.
You can have multiple loans, but the total amount outstanding can not exceed $2,000.
NILS loans do not provide you with a credit history, you do not require a credit check, you can make repayments directly through Centrepay, and you do not pay any interest on your loan.
Check your eligibility using our interactive Get Help tool.
You do need to be on a low income to qualify. Either a current Pension, Healthcare Card or earning under $57,000 for singles or $75,000 couples or people with dependents per year.
There are some exceptions. If Centrelink have assessed you as being eligible for a Pension or Health Care Card, then you would be eligible for a NILS loan.
