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 (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
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.
You pay no interest, fees or charges. You only repay what you borrow.
Who can get a No Interest Loan
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.
A No Interest Loan is not a cash loan. It is paid directly 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 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.