No Interest Loans Scheme (NILS)
0% interest and no fees or charges.
Washing machine broke down? Unexpected car repairs? Need a new laptop for work or school? We’ll pay the invoice for you (no cash).
Unexpected expenses are bound to pop up from time to time. Don’t choose an option that might get you into trouble later. With NILs, you only pay back what you borrow, nothing more.
We are an approved No Interest Loan (NILs) Provider.
How does NILs work?
Submit your invoice with your application and NILs will pay it straight to the supplier/vendor. Loans cannot be used for cash, bills, debts or rent.
How much can I borrow?
Borrow up to $2000 for essentials such as appliances or furniture, car repairs, a new computer or laptop, medical, dental or vet expenses.
Borrow up to $3000 for bond on a new rental property or for recovery from a natural disaster.
What can I use a NILS load for?
Borrow up to $2,000
for essential goods and services, including:
- Household items like appliances, whitegoods & furniture
- Car repairs
- Medical, dental, wellbeing and life event expenses
- Technology like a computer or laptop (up to $2000 limit)
- Technology like a phone, tablet and other small electronic devices (up to $1000 limit)
- Education expenses like fees or uniforms
- Employment expenses like licenses or equipment
Borrow up to $3,000
- Bond on a new rental property
- Costs associated with a natural disaster
NILs cannot be used for cash, bills, rent or debts.
Am I eligible?
To be eligible for a loan from NILS, you need to:
Have a Health Care or Pension Card
OR earn less than $70,000 (before tax) as a single
OR earn less than $100,000 (before tax) if you have a partner or dependents
OR have experienced family or domestic violence in last 10 years
AND you have lived at your current address for a minimum of three months
AND you can afford to repay the loan
What identification do you need?
You must verify your identity either by the Green ID System or with 100 points of identification.
If you are unable to use the Green ID System, you’re 100 points of identification must include at least one of the following Primary Documents worth 70 points each:
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Australian Drivers Licence
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Australian Passport or other International Travel Document
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Proof of Age Card
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Birth Certificate
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Citizenship Certificate
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Social Security Pension or Pension Card
And may include any of the Secondary Documents 30 points each:
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Medicare Card
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Australian Taxation Office Notice
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A Utility Bill
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Tertiary Education Institution Photo ID
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ID Card issued by a Foreign Government
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International Licence
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Licence Paper – Australian Government Issue
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Rates Notice
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ID Card, Permit, or Other Australian Government issue licence including Boat Licence, Shooting Licence, Firearm Licence, Security Licence, etc.
Other documentation
You must also be able to provide a document from each of these seven categories:
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Proof of income (current Centrelink statement and/or your last three payslips)
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Proof of housing expense
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A bank transaction summary for the last 90 days (no more than 10 days old)
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Gas and/or Electricity bills
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Any other loan statements – (credit card, loan repayments, etc) that show your regular expenses
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A quote of what your loan will be used for, including the retailer’s banking payment details
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Details of a secondary contact person including name, phone number, email address, and relationship to you
At least one document from each of the seven categories must be provided. The documents cannot be more than one week old. MTC cannot accept substitutes for these documents.
How to apply for a NILS loan
To apply for a NILS loan, call MTC Australia on 1300 232 663 or fill out this enquiry form. You can also see more information in our factsheet.
We will then guide you through the application process and arrange an interview with you.
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