Cost of living crisis sees big increase in no interest loans

New data has found a government funded program which allows people to access no interest loans has been utilised by more families than individuals in the last year. A no interest loan can be used to purchase essential goods such as fridges, medical bills or computers if the individual earns less than $70,000 per year. More than 42,000 no interest loans have been issued in the last year, up 19 per cent on the previous year.