Media release: No Interest Loans (NILs) Secured for Five More Years to Support Australians

Media release

Wednesday 19 March 2025

Good Shepherd Australia New Zealand is thrilled to announce that the Albanese Government has committed an additional $48.7 million to extend the No Interest Loans (NILs) and NILS4Vehicles programs for another five years. This funding ensures continued access to safe, no-fee, no-interest loans for essential items – helping Australians facing financial hardship. 

Delivered in partnership with National Australia Bank (NAB), NILs provides a vital alternative to high-interest payday loans and Buy Now Pay Later products. With over one million Australians already supported through the program, this new investment means even more people can access loans for essential household items, medical and education expenses, and vehicles for work and daily life. 

Good Shepherd CEO Stella Avramopoulos said: 

“Through powerful partnerships and expanded reach – including into the Northern Territory and First Nations communities – NILs is breaking down barriers, empowering women, sole parents and families, especially those escaping domestic violence, to achieve lasting financial independence and wellbeing. With 25% of recipients being sole parents and 18% survivors of family and domestic violence, this support isn’t just about financial assistance – it’s about providing dignity, stability, and a pathway to a better future.” 

“This work is only possible because of the strength of collaboration between not-for-profits, corporates such as NAB, and government. Together, we’re creating meaningful, lasting change – removing credit barriers, preventing predatory lending, and ensuring vulnerable Australians, particularly those in regional and remote communities, have access to the resources they need to recover and rebuild.” 

NAB Executive Sustainability Jessica Forrest echoed this sentiment.   

“NILs is NAB’s longest-standing community partnership, with more than $560 million in zero-interest capital provided over 21 years. ​Together, we are helping more Australians access credit for life’s essentials. 

“NAB is proud to provide the loan capital that supports the Good Shepherd NILs program and pleased to keep working with Government on backing this longstanding program. This funding will ensure more people continue to get the support they need. 

“Too often, people in financial stress turn to high-interest payday loans. No interest loans offer a safer alternative, helping Australians borrow money without having to pay any fees or interest.” 

We thank the Federal Government, Minister Amanda Rishworth, NAB, and all our community partners for making this work possible. Together, we’re helping Australians move from hardship to hope. 

Read NAB’s announcement here.