 
StepUP Loans are a not-for-profit loan developed by NAB and Good Shepherd Youth & Family Service. These personal, unsecured loans are between $800 and $3000 for individuals and families living on a low income and are offered at a basic interest rate of 7.24%p.a. (comparison rate 7.24% p.a.)*.
The loans provide affordable credit for the purchase of essential personal, household and domestic goods and services (eg. refrigerators, washing machines, medical expenses, cars and car repairs, computers).
Recipients are 'mentored' by a microcredit worker throughout the loan process and repayment period. Repaying a StepUP loan also establishes a credit rating and an entry into the mainstream credit system.
National Australia Bank and Good Shepherd Youth & Family Service, have launched a report (PDF, 883kb) into the StepUP loan program, titled - A step in the right direction? A report into the StepUP Loan Program, 2004-2007 which details key learnings from the program since it was originally launched in October 2004. A media release about the report is also available.
In December 2007, StepUP Loans were awarded Best Socially Responsible Product for the second year running in Money magazine's Best of the Best Awards. Read more.
Low cost StepUP Insurance is also available for StepUP Loan customers. Find out more.
Am I eligible for a StepUP Loan?
StepUP Loans are available for individuals or families. You need to live in eligible locations in New South Wales, Victoria, Western Australia and South Australia.
The individual or family must also:
- hold a current Centrelink Healthcare Card or Pension Card or are eligible to receive Family Tax Benefit Part A;
- have lived at their current address for more than six months.
You may still be eligible for a StepUP Loan if you:
- have a poor credit history;
- hold an existing loan or mortgage but are currently unable to access normal bank loans because of a change in circumstance;
- are over 70 years of age.
How much can I borrow?
The maximum value of a StepUP Loan is $3000 and the minimum value of a loan is $800.
- The loans come with a 7.24% p.a. (comparison rate 7.24% p.a.)* interest rate fixed for the period of the loan.
- Loans may be taken out for six months to three years.
- There are no fees.
- Loan repayments can be made weekly, fortnightly or monthly.
Careful attention is paid to make sure a customer has the ability to repay a loan and not over extend their weekly budget.
How much will I pay?
This will depend on:
- how much you borrow;
- how often you pay a loan instalment (eg. weekly, fortnightly or monthly);
- the term of the loan - which will be between six months and three years.
There are no fees. The interest rate on a StepUP Loan is 7.24% p.a. (comparison rate 7.24% p.a.)*. The loan terms and repayments are worked out between the customer and the microcredit worker.
The following table will give you a guide as to what you would pay every fortnight if you elected to make fortnightly payments with a 7.24% p.a. interest rate (comparison rate 7.24% p.a.).*
| Loan Term |
Loan Amount |
| $1000 |
$2000 |
$3000 |
| 2 years |
$20.89 every fortnight |
$41.77 every fortnight |
$62.41 every fortnight |
| 3 years |
$14.38 every fortnight |
$28.74 every fortnight |
$43.24 every fortnight |
This table shows what you will pay in total. This is the loan amount plus all interest over the life of the loan with a 7.24% p.a. interest rate*.
| Loan Term |
Loan Amount |
| $1000 |
$2000 |
$3000 |
| 2 years |
$1086 over two years |
$2172 over two years |
$3245 over two years |
| 3 years |
$1122 over three years |
$2242 over three years |
$3373 over three years |
You may also like to try our loan calculator to get an accurate amount of how much a StepUP Loan will cost you.
What if I have a poor credit history or some bad debts?
You may still qualify for a StepUP Loan, so please contact a microcredit worker at an eligible location near you to discuss your circumstances.
The amount of an outstanding debt will need to be less than $500 and you will have to arrange to repay the outstanding debt. The microcredit worker at your location will be able to help you identify any debt that may sit with an external credit checking agency and they will also be able to provide advice on how to repay outstanding debt.
What can I borrow money for?
StepUP Loans can be used for:
- furniture;
- storage costs (one-off);
- house maintenance and repairs;
- medical and dental expenses;
- second hand cars (plus on-costs including rego, stamp duty, roadworthy certificate for the first year);
- car repairs;
- airfares (for refugee family reunion in Australia);
- computers; and
- vocational educational costs.
This loan list is not exhaustive. Loans are not limited to one item.
StepUP Loans are NOT for:
- consolidation of any debt;
- fines (including drink driving or rehabilitation training);
- Christmas expenses;
- bills;
- holidays; or
- cash.
Where are these loans offered?
You must live in one of the following areas:
South Australia
| Adelaide |
UnitingCare Wesley Adelaide Inc
10 Pitt Street,
Adelaide SA 5000
Ph 08 8202 5180 |
| Western suburbs |
UnitingCare Wesley Bowden
77 Gibson St
Bowden SA 5007
Ph: 08 8245 7100 |
Southern suburbs
|
UnitingCare Wesley Adelaide -Christies Beach
Level 1, Letterbox 9 111 Beach Road
Christies Beach SA 5165
Ph: 08 8329 1700 |
Northern suburbs
(Salisbury & Elizabeth region)
|
Anglicare SA - Family Centre North
91-93 Elizabeth Way
Elizabeth SA 5112
Ph: 08 8209 5400 |
| Northern - Gawler and Barossa Valley regions. |
UCare Gawler Inc.
Tod Street
Gawler SA 5118
Ph: 08 8522 4522 |
| Mid -North - Port Pirie and surrounds |
UnitingCare Wesley Port Pirie
60 Florence St
Port Pirie SA 5540
Ph: 08 8633 8601 |
| South East -Mt. Gambier and surrounds |
Anglican Community Care- Mt. Gambier
White Ave
Mount Gambier SA 5290
Ph: 08 8724 9211 |
Western Australia
| Perth |
WA Low Interest Loans Network
Willeton WA 6955
Ph: 08 9354 7611 |
| Kalgoorlie |
WA Low Interest Loans Network
23 Maritana Street
Kalgoorlie WA 6430
Ph: 1300 365 301 |
| Geraldton |
WA Low Interest Loans Network
180 Marine Terrace
Geraldton WA 6530
Ph: 1300 365 301 |
New South Wales
| Western Sydney |
Anglicare Western Sydney
20 Westminster Street,
Rooty Hill NSW 2766
Ph: 02 9832 2300 |
| Bathurst/Cowra |
Josephite Foundation
96 Russell Street
Bathurst NSW 2795
Ph: 02 6332 4866 |
| Lithgow |
Josephite Foundation
1 Padley Street
Lithgow NSW 2790
Ph: 02 6352 2077 |
Victoria
| Melbourne |
Good Shepherd Youth & Family Service
117 Johnston Street
Collingwood Vic 3066
Ph: 03 8412 7317 |
| Western suburbs |
Good Shepherd Youth & Family Service
354 Main Road West
St Albans Vic 3021
Ph: 03 9364 5230 |
| Mornington Peninsula |
Good Shepherd Youth & Family Service
342 Main Street
Mornington VIC 3931
Ph: 03 5979 8199 |
Do I have to come into the branch?
Your first appointment will be with a microcredit worker at one of the above locations. The purpose of this meeting is to:
- talk about your weekly expenditure and determine whether a StepUP Loan is right for you;
- complete a loan application form.
The loan application will take about five working days to assess by NAB. Documents for an approved loan will be sent to a NAB branch of your choice.
Do I have to be an existing NAB customer?
No. However if you accept a StepUP Loan and you are not a NAB customer you will need to complete a 100 point identity check. This requires you to bring along evidence of the following (enough ID is required to reach a minimum of 100 points):
- Birth certificate (70 points)
- Drivers licence (70 points)
- Electricity/gas/water bill (30 points)
- Medicare Card (30 points)
Are the loans offered through a NAB branch?
No. You first need to contact a Microcredit worker at one of the loan locations.
What are my next steps?
If you meet the eligibility criteria and you are near one of the loan locations, contact a Microcredit worker to discuss your situation.
Click here for a list of Microcredit worker contacts.
If you are making a joint loan application, both parties will need to attend the interview with the Microcredit worker.
If you are unsure if you meet the eligibility criteria, or you are unsure if you can afford a loan, your first point of contact should be a Microcredit worker at one of the loan locations.
What will a Microcredit worker ask me?
When you call a Microcredit worker they are likely to ask you:
- what you would like the loan for;
- what type of income you receive;
- details of your housing arrangements (eg. rent/own/with dependents).
An appointment will be made to come in and see the Microcredit worker. If you are making a joint loan application, both parties will need to attend the interview with the microcredit worker.
At the appointment you will need to bring in some documentation, where you have it available.
Please discuss this with the Microcredit worker. It could include:
- Health Care Card, Pensioner Card or your latest Income Assessment Notice from the Australian Tax Office.
- Statement of benefit from Centrelink. This must be less than two weeks old.
- Last two payslips from any casual or part time work.
- Documents that show your length of stay at your current accommodation (eg. a lease).
- Your recent bills, eg. telephone, gas and electricity.
- Copies of recent savings/cheque account statements, loan statements, credit card statements and any other outstanding accounts.
Don't be put off by this list! The appointment is designed to be easy and casual.
* Comparison rates are based on a loan of $2500 over a term of 2 years. A comparison rate schedule is available from the community microcredit worker when you go for an interview.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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