No-interest loans

The No-Interest Loans Scheme (NILS) provides small loans through Good Shepherd Microfinance. These loans are to pay for essential things and are available to students who can demonstrate they are in financial hardship.

The loans cost nothing to set up and attract no interest. If you're eligible for this loan, you will only need to pay back the amount you borrowed. Repayments are spread over a 12-month period. 

What NILS loans are for

You can use NILS loans towards:

  • computers
  • household appliances (e.g. toaster, heater)
  • some medical and dental services
  • furniture (e.g. beds, mattresses, tables)
  • education (e.g. course materials, course fees)
  • vehicle repairs

How to apply for a NILS loan

To be eligible, you need to:

  • hold a Health Care Card or Pension Card or be on a low income
  • have lived in your current residence for at least three months
  • state a clear purpose for the loan (e.g "I need a NILS loan to buy a bed.")
  • show your willingness and ability to repay.

Find out more

To find out more about the NILS loan and application process please contact Good Sperherd directly:

t: +613 9495 9600
e: info@gsmicrofinance.org.au