No Interest Loan Scheme
It is a community-based program that enables carers to access fair, safe and equitable credit for the purchase of essential goods and services such as a fridge, a washing machine or dryer. A NILS® loan may also be provided for such things as health aids.
How does NILS® work?
When a borrower makes a repayment to a NILS® program, funds are then available as a loan for someone else in the community. This is called ‘circular community credit’ and this is a real demonstration of the community in action.
The maximum amount that can be borrowed is $1200.
For more information please download the nils-brochure-sept-2016 or call the Carer Advisory Service on 1800 242 636 .