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 $1,500 for the purchase of items such as a fridge, washing machine, medical expenses or car repairs. There are:
- no fees
- no charges
- no interest
- no credit checks
To be eligible for NILS you need to:
- have a Health Care or Pension Card or earn under $45,000
- have lived at your current address for three months
- demonstrate a willingness and capacity to repay the loan.