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Loans are approved for: Are tailored to suit your budget
Can be negotiated if you circumstances change
Minimum fortnightly repayment is $10.00
Must be made within 18 months
Qard Hassan Victoria No Interest Loan Scheme (NILS®)
Are there restrictions about what I can buy with my loan?
What can I buy with a Qard Hassan Victoria NILS®�loan?
Loan Repayments:
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Loan Application:
Yes.
Qard Hassan Victoria NILS®� aims to provide an alternative source of credit. We are not a welfare program or a charity.
Loans will NOT be approved for:
Cash advances
Bond and rent money
Living expenses such as food and utilities
Debt repayment and consolidation
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All loan applicants will be required come for an interview. A Qard Hassan NILS worker will discuss your application and help you fill out a budget to assess your ability to repay the loan. You will need to bring a range of documents to the interview including:
Qard Hassan Victoria NILS aims to provide you with a decision about your loan application within two weeks of your interview.
Identification documents such as a drivers license
or passport
Statement of income from Centrelink
Payslips, if relevant
Gas, electricity, water and telephone bills
Copy of your rental lease
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Household appliances
Household Furniture
Educational costs such as
some training course fees,
school camps, textbooks
Some medical equipment
In Islamic terms, a Qard Hassan is a 'benevolent loan' or 'good loan' where the borrower is only required to repay the amount borrowed.
Accordingly, the Qard Hassan Victoria NILS� offers small, interest-free loans of up to $1000 to people on low incomes for the purchase of essential household goods and services.
There are absolutely no fees, service charges or any other costs for the borrower.
Qard Hassan Victoria NILS acknowledges the role and history of Good Shepherd Youth & Family Service in developing the NILS model to ensure people living on low incomes have access to affordable, fair and equitable credit to purchase items to improve the quality of their life.
Qard Hassan VictoriaNo Interest Loan Scheme
For more information on how to apply please contact:
You are eligible to apply for a loan if you:
Are on a low income e.g: Health Care Card holders or receiving Centrelink benefits.
Can afford to repay your loan within 18 months.
Have lived at your current residence for at least three months. �
Can I apply for a Qard Hassan Victoria NILS® loan?
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Qard Hassan VictoriaNo Interest Loan Scheme
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Islamic Council of Victoria66-68 Jeffcott StreetWest Melbourne 3003
Phone: E-mail: Http:�
9328 [email protected]