MercyCare No Interest Loans (NILS)

What is a NILs Loan?

MercyCare is proud to offer No Interest Loans (NILs), an interest-free loan service that provides affordable and manageable loans with no interest charges or fees, to help build a better life for you and your family.

A NILs loan from MercyCare is usually between $100 to $2,000, with negotiable repayment periods between 6 and 24 months.

What can No Interest Loans (NILs) be used for?

MercyCare’s interest free loans are intended to assist people with purchases of basic household goods, health procedures, or to develop skills that will help them find employment. We understand that certain life events can negatively impact your financial situation, making everyday purchases difficult.

MercyCare’s no interest loans are intended to help people access essential goods and services. If you need help purchasing basic household goods or even help paying for health procedures, MercyCare can help.

Our No Interest Loans (NILs) are available for a range of items, including (but not limited to):

• Household goods, such as a refrigerator, freezer, washing machine, TV and similar
• Training, including accredited TAFE Certificate III and IV courses and non-accredited courses
• Vehicle costs, including registration, repairs and driving lessons
• Education related items (school booklists, books, education fees, etc)
• Some health procedures, such as dental, optometry, medical aids or medical equipment (such as blood pressure monitors)
• Technology (mobile phone and tablets – $1,000 limit) (laptop and computers – $2,000 limit)
• Rental bond expenses.

Our no interest loans cannot be used for cash, paying bills, paying rent, or paying debt.

Why is a No Interest Loan Better Than Other Options?

While other loans are available, some of these options can trap borrowers in cycles of debt that can be stressful and challenging to escape from.

Payday loans are an option that people sometimes turn to when they need emergency relief or general financial support. However, high fees and short repayment timeframes often leave people in worse financial decisions as they struggle to repay the loan.

With a NILs loan from MercyCare, there’s no interest or hidden fees and repayments are tailored to only what you can comfortably afford, making repayments stress-free.

Am I Eligible For A NILs Loan?

To be eligible for no interest loans with MercyCare you must meet the below criteria:

• Be 18 years or older
• Be a resident of Western Australia
• Have been living at your current address for the past three months
• Have a Health Care or Pension Card or be earning less than $70,000 gross annual income as a single or $100,000 gross annual income as a couple/people with dependants.
• Demonstrate you have the means to repay the loan

What Do I Need To Provide With My Application?

The exact documents you require will vary depending on the intended purpose of the interest free loan, but the documents below give a good idea of what’s required. Speak to our friendly team to determine what you need.

• 100 points of ID
• Bank statement for the past 90-days, starting from the day of the application
• Current Centrelink Income statement or two recent payslips
• Current quotation of product or services required (Please ensure that your quote is addressed to you, with full item/service reference number and total cost along with the ABN and bank details of the service provider)

Contact Us

If you need assistance with a one of our no interest loans, contact the team today. We’re available to help from 9:30am – 2:30pm every Monday, Tuesday, Thursday, and Friday.

NILs Loans FAQ

Submit an enquiry now

---

Our Partners

Partnership with Good Shepherd Australia and New Zealand
Funded by Department of Communities