NILS No Interest Loan Scheme

Providing individuals and families on low incomes access to safe, fair and affordable credit. No Fees. No Interest. No Charges.

What is the NILS No Interest Loan Scheme?

One in three Australians find dealing with money stressful and overwhelming. When unexpected expenses come up, sometimes a small loan can help.

Belong Blue Mountains offers small loans through the 'NILS' No Interest Loan Scheme. Individuals and families on low incomes can apply for loans of up to $1500 for specific purchases that can be repayed time with no fees, no interest, and no charges - ever.

NILS works through a process called 'circular community credit'. This means that when a borrower makes a repayment to NILS, the funds are then available to someone else in the community.

What can NILS loans be used for?

NILS loans may be used to purchase essential household items and services including:

CTP Insurance
Car Repairs
Driving lessons (up to 15 lessons from a driving school)
Furniture
White goods such as fridges and washing machines
Medical equipment
Dental, Orthodontics, Optical
Computers, Laptops, Mobile Phones
Sporting Equipment, Musical Instruments
Home Repairs, Veterinary Fees
And other essential purchases

NILS loans are not available for:

Bond or Rent or Rent in Arrears
General living expenses such as food
Gas, Electricity or Telephone bills
Cash Advances
Debt repayment or Consolidation

How much can I borrow and how do repayments work?

Individuals and families on low incomes can can borrow from $800 to $1,500.

The term of the loan usually requires the loan wot be repayed over 12 to 18 months.

Repayments may be as low as $20 per fortnight, depending on the loan amount. Repayments can be automatically deducted from your Centrelink benefit if you like.

Who is eligible for a NILS loan?

To be eligible for a NILS® you must:

Provide evidence of low income and/or Centerlink payment
Provide proof of residence such as a lease agreement, rent receipts or Council rates notice
Show a willingness and capacity to repay the loan

How do you apply for a NILS loan?

First, please contact us to discuss your needs and to check your eligibility. We will then arrange for an face to face or over the phone loan application appointment.

Before your appointment you will need to organise some paperwork including a quote for the purchase and a few finanical and identity documents.

During the appointment we will need to sight your paperwork and complete the loan application - this may take up to 1.5 hours. Payment will then be made directly to the provider of the goods or services to be purchased.

You can find more information about how to apply on our information sheet here.

NILS Info Sheet

More Information

The Belong Blue Mountains NILS Team is based at:

Mid Mountains Neighbourhood Centre

9 New Street, Lawson

Phone: 02 4759 2592

Email: info@belongbm.org.au

Interpreters:

We access the National Translating and Interpreting Service.

Feedback or Complaints:

We welcome feedback to improve our services. Please contact us at the above contact details or by submitting an message via our website. Go to our contact us form >

Alternatively, for feedback or complaints, you can access the following services:

Aged Care Quality and Safety Commission: 1800 951 822

Older Persons Advocacy Network: 1800 700 600

Commonwealth Ombudsman: 1300 362 072