No Interest Loans (NILs) provides people and families with access to a fair, safe and affordable loan to purchase essential goods and services to a maximum amount of $2,000. The repayments are set at an affordable amount over maximum term of 24 months.
NILs is free from fees, charges, and interest. You pay back exactly what you borrow.
When applying for a NILs loan, there are no credit checks. We’ll look at your income and expenses, the total loan amount and the repayment term, and work with you to see if the loan is affordable.
Borrow up to $2000 for essential goods and services including:
Such as whitegoods, furniture and air conditioners
Car repairs and servicing, driving lessons and tests, bicycle, mobility scooter, wheelchair
Including ADHD and ASD assessments, cataract surgery, dental procedures allied health costs, hearing aids and respiratory aids
Vet and health care costs (NILS must be approved prior to procedure)
Computer or laptop
Mobile phone, tablet and electronic devices
($1000 limit)
Expenses such as course and certification fees, vocational training, uniforms
Expenses such as Personal Protective Equipment (PPE), licences and permits, work equipment and tools
Loans are paid directly to the supplier and is not able to be used to for cash, debt, food, bills or rent arrears.
Answer a few quick questions below to check your eligibility, and then submit an enquiry so our staff can assess you.
We will email you a list of documents to email us. We will use these documents to confirm your identity and show that you have surplus in your budget to afford the NILS loan repayment.
We will email you a link to submit your most recent 90 days bank data. Submit all bank accounts in your name, even if you don’t use them often. We will use the data to prepare a budget with you.
We will call you to complete your application and provide you with next steps. If surplus is evident in your budget then we will submit your application for assessment.
It will take 5-10 days to be informed of the outcome. If you are approved the Loan Provider will call you and finalise the disbursement and set up repayments.
We will email you a checklist of the documents you need to send us for your application. These documents help us confirm your identity and work out an accurate budget with you.
Please use the checklist to make sure you send all the required documents. We cannot continue with your application if any documents are missing or out of date.
You will need to provide documents such as:
NILs loans are able to help the community because the loans are based on a Circular Community Credit Model.
This means that every time someone makes a repayment, the money can be used to give more loans to other people in the community.
There are no fees, interest or charges on a NILS Loan.
We are fortunate that our NILS Team at UCWB is made up of talented volunteers that speak several languages.
We will try to match you with a volunteer that speaks your preferred language, or we will use an interpreter during the NILS interview.
There are NO credit checks for a NILs loan.
There IS a credit check for a NILs for Vehicles loan.
Yes, if you have your own savings you can combine with the NILs loan and put it towards the item or service.
For example, you can buy a $2300 computer if you are approved for NILs loan of $2000 and have $300 savings. You cannot take out another loan to combine with NILS loan.
The money from the NILs loan will be paid directly to the supplier. NILs loans are not for cash.
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