Additional support for No Interest Loans

The Albanese Labor Government is boosting support for vulnerable Australians by extending a loans scheme designed to assist with urgent, critical purchases to 30 June, 2025.

No Interest loans (NILS) are a vital alternative to other high risk and high interest products such as payday loans which can plunge people into debt spirals and cause great stress.

NILS provides access to fair and safe loans for Australians on low incomes with no interest, fees or charges. The repayments are arranged with clients so that they are affordable.

More than 36,000 NILS loans were issued to eligible Australians last financial year for purchases of household items including whitegoods and furniture, car expenses, medical and dental costs, computers, housing and education costs.

Minister for Social Services, Amanda Rishworth said the scheme provides support that is not generally available through mainstream providers, meaning without this scheme tens of thousands of vulnerable Australians would be without the things they need in their homes.

Individuals can apply for NILS at over 600 locations across Australia. They are available to individuals and families who:

  • earn less than $70,000 gross annually as a single person or $100,000 gross as a couple or person with dependants, or
  • have experienced family or domestic violence in the last 10 years, or
  • have a Health Care Card or Pension Card.

The Government is also extending the Saver Plus program, a matched savings program for education-related expenses, until 30 June, 2025.

An additional $14 million will be invested into both schemes.

Minister for Social Services, Amanda Rishworth said the schemes were another way that the Albanese Government was helping to address cost of living pressures through targeted support.

“We acknowledge many Australians are doing it tough, and the Government wants to provide responsible cost of living relief while continuing to put downward pressure on inflation,” Minister Rishworth said.

“Dealing with financial issues can be stressful, particularly at Christmas. Thankfully – should the fridge break down or the kids’ computer crash – the NILS scheme is there to help vulnerable Australians get through tricky situations.

“I’d urge everyone who thinks they are eligible to look into both these schemes.”

The Government is supporting both Good Shepherd Australia New Zealand (GSANZ) and the Brotherhood of St Laurence (BSL) to deliver both programs.

More information about NILS is available on the Good Shepherd Australia New Zealand website or by calling 13 64 57

More information about Saver Plus is available on the Brotherhood of St Laurence website or by calling 1300 610 355.