No Interest Loan Scheme

NILS stands for No Interest Loan Scheme. The scheme* is supported by the Australian Government and NAB. It is designed to assist low-income individuals and families obtain safe and affordable finance for essential household costs. If you meet the criteria, you can apply for a no set-up fee and interest-free loan for essential items such as whitegoods, computers, furniture etc. It cannot be used for cash, debt consolidation or holidays.

No interest loan scheme

You may be eligible for a NILS loan if you are:

  • Over 18.
  • A Permanent Resident of Australia.
  • Entitled to a Government Health Care Card/Pension Card or Earn Less than $45,000 a year (after tax).

The outcome of your loan application is dependent on your behaviour. Your loan assessment time varies on whether you have provided all documentation needed with your application.

If you fall outside the NILS criteria, or you wish to apply for a loan sourced from community finance greater than $1,500, Foresters Personal Loans are here for you.

* Foresters Community Finance is accredited through Good Shepherd Microfinance to provide NILS.


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