A No Interest Loan helps you borrow money quickly to pay for unexpected repairs or household essentials like appliances and furniture.
Loan repayments are affordable, there are no fees or charges, and a it's a lot cheaper than a payday loan.
If you're struggling to make ends meet, see urgent help with money for free services that can help.
How No Interest Loans work
A No Interest Loan (NILs) from Good Shepherd lets you borrow up to $2,000 for essential goods and services:
- household items like appliances, whitegoods and furniture
- car repairs and registration
- medical, dental, wellbeing and life event costs
- a phone or laptop
- education costs like school fees or uniforms
- employment costs like licenses or equipment
Or borrow up to $3,000 for:
- bond and rent in advance
- council rates
- recovery from a natural disaster
You pay no interest, fees or charges. You only repay what you borrow.
A No Interest Loan is not a cash loan. It is paid directly to the supplier.
Who can get a No Interest Loan
There are no credit checks. A NILs team member will work with you to see if you can afford the loan. They won't judge you on your history.
To be eligible, you must:
- earn less than $70,000 (before tax) as a single person, or $100,000 (before tax) if you have a partner or children,
- or have experienced family or domestic violence in the last 10 years,
- or have a Health Care Card or a Pension Card,
- and show that you can repay the loan
How to get a No Interest Loan
Call the Good Shepherd No Interest Loans (NILs) team on 13 64 57 or find a community service NILs provider near you.
How long will it take?
The application process takes up to an hour, and the loan can be approved within 2 days.
What do you need to apply?
When you apply, a NILs team member will look at your:
- proof of identity (like driver's license, passport, Medicare card, Centrelink card, bank card or bills, including your address)
- financial situation (bank statements, payslips, Centrelink statement, an estimate of your regular living costs)
- current debts (like buy now pay later, credit card, payday loan, rent-to-buy)
- quote or invoice for the item you wish to buy, including supplier details
- total loan amount and repayment timeframe
If you haven't chosen the exact item to buy, but know the rough amount, ask about 'pre-approval'. Then supply the invoice later.
Georgia pays for car repairs with a No Interest Loan
Georgia's car broke down and she needed $900 to fix it. She didn't have the money, but a friend suggested a No Interest Loan.
Georgia called the Good Shepherd NILs team and found out she was eligible. Georgia met with a team member to talk about the cost of the car repairs and loan repayments.
Together, they filled in an application form online. The next day, Georgia was given a cheque for $900 made out to her mechanic.
Georgia agreed to repay the No Interest Loan with fortnightly repayments of $34.60 for one year. Her repayments are being automatically deducted from her bank account after she is paid. She will repay only the amount she borrowed — $900.