[DancingDolphin]

Loans for Pensioners​

Hi Folks, have you heard of NILS Loans (No Interest Loan Scheme)? Anglicare started this program, offering up to $2,000 interest free loans, to be repaid via pension deductions over 18 months. You can get the forms online or talk to your local community centre. Application is a fairly straightforward process: you need to outline your expenditure and get quotes for the item/s you want to buy, then attend an interview, and the approval process usually happens fairly quickly once you've done the chat. Our home is a sailing boat and we have had loans to purchase a new outboard as well as a new generator. Household items are what NILS is about, but they are easy to talk to if you have something you need that is a little "different" from the norm.

 

[sarenachaven]

This is great news. I already took out a loan last year, but I have already managed to pay it off. So a new interest-free loan will be useful for me

 

[othayetman]

I've never heard that you can get an interest-free loan with NILS Loans. It's a pity. I could buy a car because I'm retired. And I've never dealt with Anglicare. But I can ask a financial adviser to whom I always turn for help with loans about Anglicare. I took out a mortgage on the house and made the best profit from it thanks to the help of Mortgage Broker Wigan specialist. I've never been good at financial matters. All my life, I worked at a construction site, and then I opened a business related to construction. But even though I manage a small company, I continue to be illiterate in many things. Plus, my age is affecting my memory now.

 

[Suzanne rose]

I think this is brilliant for those that don't have money in the bank and that have that unexpected event , a washer or fridge stop working ect .
Interest free is amazing but are there other fees involved ?

 

[DancingDolphin]

NILS has been around for a long time. There are limits on the amount, max being $2,000, but you can buy a $5,000 item and put the rest in yourself. Also, HOUSEHOLD item is in the definition, but we purchased a new outboard once, and also a new generator. They are easy to deal with, but the paperwork is a pain in the posterior.

Good luck!

 

[DancingDolphin]

I think this is brilliant for those that don't have money in the bank and that have that unexpected event , a washer or fridge stop working ect .
Interest free is amazing but are there other fees involved ?

No fees, just pay back out of pension/etc via auto deductions just like when you get a Centrelink advance

 

[DancingDolphin]

I've never heard that you can get an interest-free loan with NILS Loans. It's a pity. I could buy a car because I'm retired. And I've never dealt with Anglicare. But I can ask a financial adviser to whom I always turn for help with loans about Anglicare. I took out a mortgage on the house and made the best profit from it thanks to the help of Mortgage Broker Wigan specialist. I've never been good at financial matters. All my life, I worked at a construction site, and then I opened a business related to construction. But even though I manage a small company, I continue to be illiterate in many things. Plus, my age is affecting my memory now.

You could also contact them on the internet or your local community centre.

 

[Suzanne rose]

I just hope it doesn't make pensioners spend unnecessary and just use it for something important