A no interest loan helps you borrow money quickly to get back on your feet.
Repayments are affordable, there are no fees or charges, and 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 from Good Shepherd lets you borrow up to:
- $2,000 to pay for essentials like appliances, furniture, education or car repairs, or
- $3,000 for a housing bond, rates or natural disaster recovery, or
- $5,000 for an essential vehicle
Repayments are affordable and the loan term is between 12 and 18 months for most loans, with no credit check. Terms for vehicle loans are up to 48 months, with a credit check.
The best part is you pay no interest, fees or charges. You only repay what you borrow.
Who can get a no interest loan
To get a no interest loan you must:
- have a single income less than $70,000 (before tax), or $100,000 (before tax) with a partner or dependants, or
- have experienced family or domestic violence in the last 10 years, or
- have a Health Care Card or a Pension Card
- have lived at your current address for three months or more
- show that you can repay the loan
How to get a no interest loan
Get a no interest loan in two steps:
Step 1. Call Good Shepherd's No Interest Loans (NILs) team on 13 64 57 or find your local NILs provider and arrange a meeting.
Step 2. When you meet, they will help you with your application and work out your repayments.
How long will it take?
The loan assessment usually takes between 45 and 90 minutes.
No interest loans are usually approved within 2 days. If you bring all your paperwork, it can be approved on the same day.
What you can buy with a no interest loan
You can use a no interest loan to pay for:
- household items, like a fridge, washing machine or furniture
- education expenses, like fees or uniforms
- technology, like a phone or laptop
- medical, dental, wellbeing or life event expenses
- employment expenses, like licenses or equipment
- car repairs and registration
- housing bond, rent in advance or rates
- natural disaster recovery costs
- an essential vehicle, like a car or scooter
Ask your NILs provider if you need something that's not on this list.
No interest loans are not cash loans. The NILs provider will generally give you a cheque addressed to the supplier.
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 her local NILs provider and found out she was eligible. Georgia met with the NILs provider 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.