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