No Interest Loan Scheme

NILSThe No Interest Loan Scheme (NILS®) provides interest-free loans for carers on low incomes.

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 .