I need a new fridge, but I can’t afford it. The banks won’t lend to me and I believe the same day lenders charge huge fees and interest. Are there other options?
The No Interest Loan Scheme (NILS) is a good option to explore. Contact NILS by phone on 13 NILS (13 64 57), freecall 1800 675 517 or check the website nils.com.au/find for the nearest loan provider.
NILS loans are available through 178 community organisations at 628 locations across Australia, supported by Good Shepherd Microfinance. When a borrower makes a repayment, those funds become available to someone else in the community.
Loans for up to $1500 with no interest, no fee and no charges are available to eligible clients to purchase fridges, washing machines, heaters and other white goods, furniture, car repairs and tyres and more. Affordable repayments are set over a 12 to 18-month period. There are no credit checks so previous bad credit will not affect the loan process.
To qualify you must have a Health Care Card or Pensioner Concession Card or be on a low income of less than $45,000 per year (after tax) for individuals and $60,000 per year for joint applicants. You must have lived at your current address for more than three months and must show willingness and capacity to repay the loan.
You may also wish to explore other options, such as buying a cheaper second-hand fridge or organising repairs (if you already have a fridge). Several panel members had positive experiences using the websites such as Gumtree to buy, sell or give away second-hand goods. Charity stores may also be able to help. Welfare agencies can sometimes access grants for people in underprivileged situations.
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