Financial Resilience programs
Our Financial Resilience programs provide access to safe and affordable financial products including:
- no interest loans
- matched savings.
These products are an alternative to other high risk, high interest products such as payday loans.
In addition to the products, you are provided with financial education to help you:
- increase your financial confidence
- save your money and maximise your income
- increase your savings
- start on the path to understand and access mainstream financial options.
No interest loans
The No Interest Loans Scheme (NILS) gives access to fair and safe loans for eligible people, with no interest, fees or charges. They’re designed to make repayments affordable.
Loans are available for:
- rent and rental bonds
- relocation expenses
- whitegoods
- furniture
- car repairs
- technology
- medical, dental and education costs.
No interest loans of up to $3,000 are available to people on low incomes (less than $70,000 [gross] for singles and up to $100,000 [gross] per annum for couples or people with dependants). These loans are repaid over a period of up to 2 years.
People who have experienced Family and Domestic Violence in the last 10 years can also apply for a NILS loan to help with the financial costs of establishing a new household. No income limit applies however, they must be able to repay the loan.
No interest loans for vehicles
NILS for Vehicles loans between $2000 – $5000 are available for people and families on low incomes to purchase a vehicle for essential use. Loans have a repayment period of up to 4 years. Eligible vehicles include:
- cars
- scooters
- mobility scooters
- motorcycles
- boats.
Saver Plus
Saver Plus is a matched savings program to help you pay for your own or your family’s education-related expenses including:
- computers
- uniforms
- books
- TAFE or VET fees.
For every dollar you save up to $500, it will be matched dollar for dollar up to $500. On average, clients participate in the program over a 10-month period, with flexibility in the amount of time a participant can take to complete the program. Participation in 5 MoneyMinded financial education sessions is part of the program. Eligibility for Saver Plus is for those in receipt of a Commonwealth social security benefit, allowance or payment.
Microenterprise development
If you’re on a low income, small business and microenterprise development organisations can help you:
- increase your business planning and workforce skills
- develop a small business or microenterprise including providing one-on-one mentoring
- access small business loans.
Eligibility to access microenterprise services is only available to:
- people in receipt of income support payments
- women experiencing family or domestic violence — to help them become financially independent.
Microenterprise development services funded by us include:
- Many Rivers Microfinance(Opens in a new tab/window)
- Global Sisters Australia(Opens in a new tab/window)
- Enterprise Learning Projects(Opens in a new tab/window).
Money Support Hubs
Money Support Hubs can help you access financial counselling, financial skills and, in some cases, access to NILS and emergency relief services.
Learn more about Money Support Hubs.