Good Shepherd's No Interest Loans
No Interest Loans - or NILs - provide a way for people on low incomes to access credit for essential goods and services – with no interest or fees.
NILs are delivered by Good Shepherd Australia New Zealand in partnership with local community organisations.
NILs provide access to safe, fair and affordable credit to people on low incomes to purchase essential goods and services.
There is no interest or fees charged on a No Interest Loan. You only pay back what you borrowed.
You can borrow up to $2,000 for the cost of essential goods and services, including health and wellbeing services such as psychological assessments.
Repayments are set at an affordable amount over a period of up to 24 months.
No credit check is required for this loan.
No Interest Loans are NOT for cash – the funds are paid directly to the service provider on production of an invoice. There is a cap of how many loans are provided each week, and once this cap is reached no further will be approved for that week. If this is the case, you can re-apply the following week.
Eligibility
You may be eligible for NILs if you:
- are 17 years or over (parents can apply on behalf of their child);
- are an Australian citizen, permanent resident, or hold a visa that expires after the loan term;
- meet one of the low-income eligibility criteria below;
- have a Centrelink healthcare or pension card; or
- earn less than $70,000 a year (before tax) for singles; or
- earn less than $100,000 a year (before tax) for couples or people with dependents; or
- there is a no upper income threshold if you have experienced family and domestic violence (within the last 10 years).
- you have lived at your current address for at least 3 months (however, this criteria can be waived under exceptional circumstances); and
- you can, and are willing to, repay the loan within the timeframe required.
For more information and to find your local NILs provider click here. Your local NILs provider will help you with your application and work out what you can afford to repay. It’s helpful if you have proof of ID and documents showing your finances. Please note that it can take a number of weeks between the time you apply and the time you receive approval.
TP Assessments are happy to provide an invoice for the services you require.