Do you need extra support for your daily expenses?
No Interest Loans Schemes (NILS) provides access to low-interest loans for household items to people who earn a low income. These loans allow you to purchase items such as white goods, furniture, and more, without having to worry about paying fees or interest.
How does NILS Work?
Loans are usually given from $200 up to a maximum of $2,000. This amount can vary depending on your financial circumstances. You can use the loan to buy energy and water-efficient white goods (like a fridge, washing machine, dryer, or hot-water heater) and household items such as furniture, a computer, an oven, or a TV.
You may also be able to use the loan to cover car expenses, medical costs, or education expenses. The loan can’t be used for cash advances or debt repayments.
Your repayment amounts can be tailored to suit your circumstances, so you don’t get caught short. The term of the loan is usually 12-24 months, with no fees or interest charged.
NILS is a recycling pool of money – as you make your repayments, the money becomes available for the next borrower. By paying back your loan, you’ll help other people benefit from the same opportunity.
What can I use a NILS loan for?
Borrow up to $2000 for essential goods and services including:
- Household items like appliances, whitegoods & furniture
- Car repairs & registration
- Medical, dental, wellbeing and life event expenses
- Technology like a phone or laptop
- Education expenses like fees or uniforms
- Employment expenses like licenses or equipment
Borrow up to $3,000 for:
- Bond & rent in advance
- Rates
- Costs associated with a natural disaster
How to Apply?
To apply for a NILS loan, call MTC Australia on 1300 232 663 or fill out the enquiry form below to check whether you’re eligible. You can also see more information in our factsheet.
We will then guide you through the application process and arrange an interview with you.
Make your application today