No Interest Loan Scheme (NILS)

About NILS

Please download an information package here.

Please download the NILS@BANC pamphlet here.

A useful site with budget planners and other information is the MoneySmart site.

The aim of the BANC No Interest Loan Scheme (NILS) is to provide no interest loans to people on low incomes living in the following areas: Leura, Katoomba, Medlow Bath, Blackheath, Megalong, Shipley, Mount Victoria, Dargan, Bell, Mount Irvine, Mount Wilson, Mount Tomah.

What will NILS provide loans for?
  • These loans may be used to purchase essential household items for example:
    white goods such as fridges, washing machines
  • essential electrical goods
  • medical equipment
  • or for other worthwhile purposes such as education and training or driving lessons.
Community Money

The funds to provide for these loans comes from the community and so prompt and complete repayment enables the providers to re-lend the money to other needy members of the community. If you are experiencing difficulty repaying your loan, contact your NILS lender as soon as possible.


Repayments are tailored to suit individual circumstances
The term of the loan is usually 12 – 18 months

How much can I borrow?

The maximum loan is dependant upon your ability to repay, however the usual maximum is around $1,200.

Are you eligible for a No Interest Loan?
    • Can you answer yes to the following questions?
    • Are you on a low income, i.e. holder of a Health Care Card?
    • Have you lived in the area for the last six months?
    • Do you have the ability to repay the loan over a 12 -18 month period?
    • Are you unable to qualify for other affordable loans?
    • Will this loan improve the health and well-being of you or your family?
    • How can I apply for a loan?

If you have answered ‘yes’ to the questions above, ‘Are you eligible for a No Interest Loan?’, then you will need to:
1. Gather the following documents:

    • Your current Income Statement from Centrelink and/or Pay Docket from your employer
    • A document showing length of stay at current accommodation, e.g. Lease, Driver’s License or other identification
    • Details of your usual household expenditure, including most recent rent receipt or mortgage statement, telephone, gas and/or electricity accounts.
    • Any other outstanding accounts
    • Copy of your most recent bank statement

2. Obtain written quotes for the item/service you wish to purchase.
3. Make contact with BANC to make an appointment for a loan interview.
4. Attend a loan interview, ensuring you bring all those documents.

Decisions about loan applications are made by a loan assessment committee. Clients are advised of the committee’s decision very quickly following their interview.