Am I eligible?

You are eligible if the answer to the following questions is yes:

• Do you live or work in the ACT?

What can be purchased with a No Interest Loan?

• Whitegoods such as a fridge or washing machine
• Household furniture such as a beds or sofa
• Electrical items such as a television or computer
• Health Aids such as a walking frame or sleep apnea device
• Car repairs

How much can I borrow?

The maximum amount you can borrow is $1500. If the item you want costs more than $1500, you will need to have saved up the balance required before applying for the loan.

What happens next?

If your application fits the eligibility criteria, you will be contacted by the NILS Administrator either by phone or mail to arrange a convenient appointment time.
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What happens at the appointment?

At your appointment the NILS Administrator will work through your Income and Expenditure sheet with you to see if you are able to afford the loan. The NILS Administrator will sight and copy all relevant documents eg your lease, recent utility accounts, Health Care Card, evidence of income

What happens if my loan is approved?

You will be asked to sign a contract with the No Interest Loan Scheme. This contract sets out your rights and responsibilities. It outlines the amount that you will be lent and the number of and amount of payments. A cheque for the full loan amount will then be forwarded to the trader that you are purchasing the item from. It is your responsibility to arrange delivery of the item.

How do I pay the loan back?

Loans are paid back by fortnightly payments either by Centrepay (which the Loans Administrator will organise for you) or by Deposit Book.

What if I have difficulty meeting the repayments?

It is important to contact the loans officer as soon as possible to discuss options such as reducing the repayments.