No Interest Loans (NILs)
0% interest and no fees or charges, EVER
Find your nearest NILs provider HERE
Washing machine broke down? Unexpected car repairs? Need a new laptop for work or school? We’ll pay the invoice for you (NO CASH).
Unexpected expenses are bound to pop up from time to time. Don’t choose an option that might get you into trouble later. With NILs, you only pay back what you borrow, nothing more.
How does NILs work?
Submit your quote with your application and NILs will pay it straight to the supplier / vendor. Loans cannot be used for cash, bills, debts or rent.
How much can I borrow?
Borrow up to $2000 for essentials such as appliances or furniture, car repairs, a new computer or laptop, or medical, dental or vet expenses.
Borrow up to $3000 for bond on a new rental property or for recovery from a natural disaster.
What can I use a NILs loan for?
Click HERE to find out where you can apply.
Borrow up to $2000 for essential goods and services including:
- Household items like appliances, whitegoods & furniture
- Car repairs
- Medical, dental, wellbeing and life event expenses
- Technology like a computer or laptop (up to $2000 limit)
- Technology like a phone, tablet and all other electronic devices (up to $1000 limit)
- Education expenses like fees or uniforms
- Employment expenses like licenses or equipment
Borrow up to $3,000 for:
- Bond on a new rental property
- Costs associated with a natural disaster
NILs can not be used for cash, bills, rent or debts.
Am I eligible?
Click HERE to find your nearest NILs provider.
Find your nearest Provider
No Interest Loans are offered by more than 170 local community not-for-profit organisations in over 600 locations. Click the button to find a No Interest Loan provider near you. In most cases you can visit in person or can apply over the phone.
What do I need to apply?
When you apply, you’ll need to provide
- 100 points of ID (such as a driver’s license, passport, Medicare card, Centrelink card, bank card or bills, including something to verify your address)
- Details about your financial situation (bank statements and/or banking details, payslips and/or current Centrelink statement, plus an estimate of your regular expenses)
- Information on existing debts (such as buy now pay later, payday loans or rent-to-buy)
- A quote or invoice that shows: the date, a description of the item/service, the supplier’s details (business name, ABN, address, phone or email), banking or payment details, and the payment amount with delivery included.
If you haven’t chosen the exact item you’d like to buy, but know the rough amount, you can talk to us about ‘pre-approval’ to see if you’ll be eligible, then supply the invoice later. Note: No Interest Loans CANNOT be used for cash. We pay directly to the supplier.
When applying for a No Interest Loan, there are NO credit checks. We’ll look at your income and expenses, the total loan amount, and your repayment timeframe (up to 24 months), and work with you to see if the loan is affordable. We don’t judge you on your history.
How has a No Interest Loan helped?
Ray*
I got a NILs loan for a washing machine and then a dryer. I was very relieved that I could get these items and then pay them off at an amount I could comfortably afford. In the past I had taken out a ‘payday loan’ and it got me into real trouble with the repayments.
*details changed to protect privacy
Anne*
Getting a No Interest Loan helped me pay my rego and I didn’t have to pay it in one hit. It’s such a good option because repayments are tailored to what you can afford. I didn’t have to max out my credit card so it was much better from a budget point of view.
*details changed to protect privacy
Rhonda*
A NILs loan is great because there’s no interest and no hidden fees. With most of those ‘fast loans’ there are heaps of extra charges and high interest, so you end up paying back so much more than you actually borrowed. I needed some urgent dental work done and I couldn’t have got it without a NILs loan.
*details changed to protect privacy
