Step Up Loans

StepUP is a low interest loan for people on low incomes who have difficulty
accessing credit from a bank. You can borrow from $800 – $3,000, with up to three
years to repay the loan. There are no extra fees.

The current interest rate is 5.99% per annum fixed interest rate. (Comparison rate 5.99%

A StepUP® Loan is available to those who hold a current Health Care Card, Pension
Card, or receive Family Tax Benefit Part A.

Loans can be used to purchase second-hand cars or car repairs, furniture, white
goods, computers, medical or dental services, and particular education expenses.

Contact us for further information
Phone: 03 9546 5255 or Email:

What can I borrow money for?

Eligible items include:

  • Second-hand car or car repairs
  • Second-hand car or car repairsHousehold appliances (fridge, washing machine, etc)
  • Household furniture
  • Computers, mobile phones
  • Some training and educational costs
  • Some medical and dental services

Loans are not available for cash or for the payment of bills.

How will I repay the loan?

Repayments can be made via direct debit if you are a NAB customer. You can also transfer funds from another bank or pay in cash at a NAB branch.

You can make extra payments at any time, with no extra fees. Paying the loan off early will reduce the interest of the loan. Remember to make your minimum repayments before the due date.

Loans can be repaid between six months and three years.

Am I eligible?

To be eligible for a StepUP® loan you must:

  • Have resided in your current address for 3 months. Exceptions may be applicable for
    those experiencing family violence
  • Be a Permanent Resident or a Citizen
  • Have a current Health Care Card or Pension Card or be on a Family Tax Benefit Part A.


  • Have an annual income less than $45000 telephone etc)
How do I apply for a StepUP Loan?

To apply for a StepUp loan:

  • Check your eligibility for a StepUP loan
  • Download and read the StepUP interview checklist (PDF 784KB)
  • Call 03 9546 5255 or 03 9546 5255 to book an application interview
  • Attend your application interview with all documents listed in the interview checklist
What do I have to bring to the application interview?

Before you attend your application interview you will need to have your supporting documents.

See the checklist of documents (PDF 784KB) to bring to your interview.

Outcome of application

If your application is approved:

You will be contacted by the Micro Finance Worker who will send a Loan Approval letter. You will need to visit your local NAB branch to sign the loan contract and receive a cheque made out to the supplier or an Electronic Fund Transfer (EFT) will be made to the supplier.

If your application is declined:

You will receive a call from your StepUP Microfinance Worker and a letter from NAB. If you can resolve the issue within 3 months, a Decline Review may be possible.