No Interest Loan Scheme

What is NILS?

The No Interest Loans Scheme (NILS) provides individuals and families ona low income access to safe, fair and affordable credit. There are: 

  • No Fees 
  • No Charges 
  • No Interest 
  • No Credit check is required for this loan 

A NILS loan can be up to an amount of $1,500. Repayments are scheduled at an affordable amount over a 12month period 

What NILS loans are for

Loans are for thepurchase of essential goods and services and can include 

  • Household items such as white goods and furniture 
  • Some medical and dental services 
  • Education needs such as computers, books, excursions and uniforms 
  • Car repairs or registration 
  • Other items may be requested upon approval from loans committee 

Loans cannot be used for

  • Debt Consolidation 
  • Bills, fines, rent, bond 
  • Cash
  • Christmas or Birthday presents
  • Holidays

Eligibility Criteria

  • Have a Health Care Card/Pension card or be on a low income 
  • Have been in your current premises for more than 3 months 
  • Show a capacity within your budget to repay the loan 

Documents to bring to your interview

You must bring the following documentation to your NILS interview

  • Centrelink Income statement
  • All current utility bills 
  • 3 months of Bank statements
  • I.D. (Drivers Licence or Proof of age card 
  • Lease agreement or proof of residence 
  • Statements relating to any loans or appliance rentals 
  • Quote/quotes for item/s you wish to purchase 

To Apply for a NILS loan please call BFFS on (03) 54415277 

For more information

If you would like to know more about the no interest loan scheme please fill out the form below and we wiil get back to you as soon as we can thank you.