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NILS: Safe, fair and affordable credit
The St Vincent de Paul Society Victoria offers no-interest loans – Vinnies NILS – to purchase essential goods and services with fair, accessible credit for people on low incomes.
The program is supported by dedicated volunteers, but with the cost-of-living affecting so many Victorians, our services need more volunteers to help with the rising demand.
Want to become a volunteer? REGISTER
Vinnies NILS (No Interest Loans Scheme) provides individuals and families on low incomes with access to safe, fair and affordable credit.
The loans have no interest and no fees. No charges are passed on to the clients.
Loans of up to $2,000 can be provided (up to $3,000 for some purposes) for essential goods and services including whitegoods, educational expenses such as laptops and iPads, medical costs and equipment, as well as vehicle and household repairs. Loans are paid back over a period of up to 24 months, usually via a direct deduction to benefit payments.
A Vinnies NILS agreement often means a household can replace old appliances with more energy-efficient models resulting in reduced electricity bills, too. Or the purchase of a washing machine saves the ongoing expense of using a laundromat.
Our Vinnies NILS loans give people self-agency and choice
If you find yourself in a challenging financial situation, it is worth considering a Vinnies NILS loan first before seeking other more expensive credit options.
For more information people can apply via vinniesnils.org.au or call us on 03 5229 8829
WHAT IS VINNIES NILS?
No Interest Loans (NILs) provide individuals and families on low incomes with access to safe, fair and affordable credit.
NO FEES NO CHARGES NO INTEREST
Loans are available for essential goods and services such as fridges, washing machines, car repairs and medical expenses for up to $2,000.
Repayments are then set at an affordable amount over a 12 to 18 month time period.
NILS WORKS THROUGH A PROCESS CALLED 'CIRCULAR COMMUNITY CREDIT'.
This means when you make a repayment to NILs, the funds are then available to someone else in the community.
IT IS WORTH CONSIDERING A NILS LOAN FIRST BEFORE SEEKING OTHER EXPENSIVE OPTIONS FOR CREDIT LIKE A PAYDAY LOAN OR RENT TO BUY.
Want to become a volunteer?
Our No Interest Loan Scheme is supported by our dedicated volunteers, but with the cost-of-living affecting so many Victorians we are needing more support now to help with the rising demand.
As a Vinnies NILS volunteer you will:
- Receive hands on training by Good Shepherd Microfinance
- Respond to enquiries by phone or email
- Send out loan application packs to prospective borrowers via mail or email
- Collecting and checking loan application documents
- Entering information into the specialised NILS software
All applicants must be 18 years and older, and be able to commit just a couple of hours a week for six months. Vinnies NILS can support student placements from TAFE and universities.
To become a volunteer, the St Vincent de Paul Society Victoria requires Police Checks and Working with Children Checks to be done.
Get involved
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Compliance checks
Click links below to watch the how to apply videos:
Meet Sharon
Sharon, a young mum who was pregnant with her third child, was pleased to hear about Vinnies NILS when her washing machine broke down. She had been hand-washing the family’s clothes and trying to dry them in the dreary winter weather in rural Victoria. A volunteer told her of the no-interest loan scheme and she made contact. Within a week, Sharon had a new washer/dryer delivered and installed.
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