Safe and affordable loans for people on low incomes

5 July 2018
NILS rent-to-buy side by side fridge comparision
On a low income? You could apply for a No Interest Loans Scheme (NILS) loan.

Renting an item might seem like a good option when you can't afford to buy upfront. But the repayments can quickly start stacking up and costing more than the original price. If you're on a low income, an alternative is to apply for a No Interest Loans Scheme (NILS) loan. A NILS loan is interest-free with no hidden fees or charges so you can buy your item upfront, repair a vehicle or assist with a range of other essential goods and services.

The NILS provides individuals and families on low incomes with access to safe, fair and affordable credit. Loans are available for up to $1,500 and can be used for essential goods and services including:

  • household items e.g. fridges, washing machines, furniture
  • car repairs
  • some medical and dental services
  • education essentials like computers and text books
  • vet bills
  • other items as requested.

Loans will not be provided in cash and can not be used for debt consolidation, bills or holidays. To be eligible for a NILS loans you must have a Health Care Card or earn less than $45,000 a year, live in your current residence for more than 3 months and show a capacity to repay. NILS loans are available for people over the age of 16.

To find out more or to apply for a NILS loan, contact a Good Money store in Dandenong, Geelong, Collingwood or Morwell ( or find a community based NILS provider in your location (

Victorian Good Money stores are supported by the Victorian Government and the National Australia Bank and delivered in partnership with Good Shepherd Microfinance.  

NILS in Victoria is a partnership between Good Shepherd Microfinance, the Australian and Victorian Governments and the National Australia Bank.

Note: The image shown above of the rent-to-buy comparison is based on a rental contract with a term of 48-months from Radio Rentals versus the lowest retail price found online for the same product, an LG 668L fridge (as shown side-by-side).