Are you on a low income? Has your washing machine broken down? Does your fridge no longer keep things cold? Do you need to buy an essential household item but can’t afford it? If so a NILS®1 loan may be able to help you.
The No Interest Loans Scheme
The No Interest Loans Scheme (NILS®) provides ‘interest’ and ‘fee’ free loans for individuals, families or couples living on a low income. NILS® is a community-based initiative that enables people to access fair, safe and equitable credit for the purchase of goods and services.
What are the loans for?
NILS® is generally for the purchase of essential household items like a fridge, washing machine, TV, bed or clothes dryer. NILS® may also be provided to meet other essential needs. Contact your local scheme for details.
NILS® will not cover regular living expenses such as:
Electricity, gas, phone etc
Existing debt or consolidation
Items in pawn broker or similar
Items already purchased
Who can apply for a NILS® loan?
- Loan applicants must be in receipt of a pension benefit, DVA payment, Health Care Card or be of genuinely low income.
- All NILS schemes have a residency criteria e.g. lived in your current residence for 12 months. Contact your local scheme for further details.
- You must have a capacity & willingness to repay the loan. The NILS® interview will assess your financial situation.
How much can I borrow?
It varies, but the maximum is usually $800 to $1,000 and the repayment period is usually around 12 to 18 months.
1 The NILS® Trade Mark is registered to Good Shepherd Youth and Family Service (No. 766 836).