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    No Interest Loan Scheme


    NILS isn’t a payday loan and it’s not a bank loan NILS works through a process called 'circular community credit'. This means when a borrower makes a repayment to NILS, the funds are then available to someone else in the community.
    It is worth considering a NILS loan first before seeking other expensive options for credit.

    Questions

    No Interest Loans (NILS) provide individuals and families on low incomes with access to safe, fair and affordable credit.
    Loans are available for essential goods and services such as fridges, washing machines, car repairs and medical procedures for up to $1,500. Repayments are set at an affordable amount over 12 to 18 months.

    NLoans are available for the purchase of essential goods and services
    These may include:
    • Household items like fridges, washing machines, TVs and furniture
    • Medical procedures and dental services
    • Education essentials such as computers and text books
    • Car repairs or registration
    • Some other items as requested
    For emergency relief assistance such as with food parcels, bills and rent, Contact Coast Shelter directly
    Does not include:
    • Food
    • Rent
    • Bills
    • Cash
    • Debts

    • I have a Health Care Card / Pension Card or earn less than $45,000 a year after tax ($60,000 for couples or people with dependants)
    • I have lived at my current or previous address for at least 3 months
    • I can show that I have a capacity to repay the loan

    Step 1 - ELIGIBILITY
    Find out if you are eligible for a NILS loan

    Step 2 - ENQUIRE
    Contact Coast Shelter

    Step 3 - APPOINTMENT
    Make an appointment with Coast Shelter

    Step 4 - ASSESSMENT
    Your loan application is assessed

    Step 5 - OUTCOME
    You are informed of the outcome of your loan application

    Tony repaid his No Interest Loan very quickly with extra payments and in that time, had saved enough money to purchase the furniture he needed.

    Tony applied for a No Interest Loan to purchase a refrigerator and furniture for his home. The total price exceeded the maximum loan amount of $1,000, so he decided to buy the fridge first. As we assessed his budget, it soon came to light that he had a reasonable surplus each fortnight, but no savings to show for it. Tony insisted he had no money left over and was always waiting on his next Centrelink benefit.

    On a closer look at Tony’s budget, we realised that his fortnightly surplus was being spent on poker machines. He enjoyed playing them, but had no idea how much he was spending. Tony phoned us later to inform us he was monitoring his spending much more closely and was horrified at how much he had been spending on poker machines.

    Tony repaid his No Interest Loan very quickly with extra payments and in that time, had saved enough money to purchase the furniture he needed. Tony has since repaid his second No Interest Loan. He is grateful for our assistance and takes pleasure in watching his savings grow.