How much you can get
You can choose the amount of loan you get each fortnight. This amount can be up to 1.5 times the maximum payment rate of your eligible pension each fortnight.
Your combined pension and loan payments can’t exceed 1.5 times the maximum pension rate. Your loan payment will automatically increase or decrease to avoid this.
We don’t pay this as a lump sum. You can access a maximum loan amount. This is the total loan you can get under the scheme. Your age and how much equity you own in Australian real estate will determine how much you can get.
We pay your loan in fortnightly payments. You can nominate the amount. This is the total loan you can get under the scheme. Your age and how much equity you own in Australian real estate will determine how much you can get.
We currently charge an annual interest rate of 4.5% that compounds fortnightly on the outstanding loan balance. The longer you take to repay the loan, the more interest you pay.
If you get a Defence Force Income Support Allowance (DFISA) it can affect your Pension Loans Scheme amount. It will reduce by the amount of DFISA you get.
We base your maximum loan amount on your or your partner’s age and your security for the loan.
You can choose the amount of the loan you get each fortnight. This amount can be up to 1.5 times the maximum pension payment rate you qualify for.
There are things you need to think about before applying for the Pension Loans Scheme.
Page last updated: 28 January 2020
This information was printed 13 May 2021 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme/how-much-you-can-get. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.