No Interest Loan Scheme

A broken-down fridge, the bill for next term’s text books, unexpected medical costs – all of these things can add an extra layer of stress to our everyday lives.

No Interest Loan Scheme

A broken-down fridge, the bill for next term’s text books, unexpected medical costs – all of these things can add an extra layer of stress to our everyday lives.

Carers Victoria has been approved as a Good Shepherd Microfinance No Interest Loans Scheme (NILS) community program provider.

NILS was developed by Good Shepherd Microfinance to give Australians on low incomes access to fair and safe credit to purchase important items, from home appliances to medical treatment.

What Are The Loans For?

NILS loans of up to $1200 are usually available for the purchase of household items like washing machines, beds, or fridges; you can also apply for a NILS loan to pay for essential items like medical aids. NILS is not available for emergency relief, bond or rent assistance, living expenses or debt repayment.

Who Is Eligible?

NILS loans are available to health care card or pension card holders who are on a low income, have lived in their current residence for more than three months, and who show a willingness and capacity to make the necessary repayments. Eligibility is determined by the organisation or group providing the loan, and they may adjust the eligibility criteria on a case-by-case basis.

Although membership to Carers Victoria isn't compulsory to be eligible for a NILS loan, we encourage all carers to join as it is free and is a great way to stay informed and be involved.

Become a Carers Victoria member.

How Much Can You Borrow?

The amounts loaned vary between providers, but generally, NILS loans are for up to $1200. The repayment period is usually between 12 to 18 months.

How Does It Work?

With manageable repayments and a respectful assessment process conducted by an accredited NILS program, NILS works through a process of circular community credit. When a borrower makes a repayment to NILS, funds are then available to someone else in the community.

How NILS works in your community

For more info, see the brochure below or call Carers Victoria's Advisory Line on 1800 242 636.

Carers Victoria acknowledges the traditional owners of this land and pays respect to elders both past and present.

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