A no interest loan or StepUP low-value interest loan assists you borrow cash quickly to obtain back on the foot.
Repayments are affordable, there are not any costs or fees, and it is a great deal less expensive when compared to a pay day loan.
If you are struggling to help make ends fulfill, see urgent assistance with cash at no cost solutions which will help.
Loans without interest: submit an application for a family group Relief Loan to cover lease and resources if you have been financially relying on COVID-19. Loans are for as much as $3,000, haven’t any interest or charges and are usually repayable over two years.
No interest loans
A no interest loan allows you to borrow as much as $1,500 to cover basics. Repayments are affordable therefore the loan term is between 12 and eighteen months. There are not any credit checks.
The best benefit is you pay no interest, costs or costs. You merely repay that which you borrow.
The No Interest Loan Scheme (NILS)
The No Interest Loan Scheme provides people and families on low incomes with use of safe, reasonable and credit that is affordable. Loan amounts are as much as $1,500 for crucial products and solutions such as for example fridges, automatic washers or vehicle repairs.
Who are able to obtain a no interest loan
To have a no interest loan you have to:
- Have Health Care Card, a Pensioner Concession Card or money lower than $45,000 per after tax year
- Have actually resided at your present target for lots more than 90 days
- Show that one may repay the mortgage