Arts Council England are running a new scheme that allows you to borrow up to £2,000 towards a new musical instrument, completely interest-free.
If you have always wanted to learn a new musical instrument, or would like to encourage your children to learn to play, you can now do so for less with Arts Council England's 'Take It Away' scheme.
What is 'Take It Away'?
The 'Take It Away' scheme offers an interest-free loan for anyone over the age of 18 to buy a new musical instrument. You can borrow anything from £100 to £2,000, and buy any kind of musical instrument from a new electric guitar, to a new saxophone, to a new set of maracas.
The loan can be used as part-payment towards an instrument that costs more than £2,000, or it could be used to buy several lower-cost instruments up to that value.
You can also use the money to buy music stands, sheet music, or even tuition. Click here to view a full list of what you can use the loan for.
How does it work?
Visit your local participating music outlet and find the instrument of your choice. When you've made your decision, ask to apply for a Take It Away loan. You will need to pay a 10% deposit on your credit or debit card.
There will then be a short application process where you will be taken through a credit check, but when this is done and your deposit is paid, you can take your new musical instrument home immediately.
You will then pay off the loan over 9 months in equal payments, with each payment going out via direct debit on the 30th of the month. The first payment will leave your account on the 30th day of the month that you buy your instrument.
You will not have to pay any interest on the loan - this is covered by Arts Council England. Therefore the scheme is a good way to get a new musical instrument with manageable monthly payments and no mounting interest to worry about.
What are the terms and conditions?
To be eligible to take part in the scheme you'll need to be over 18 years of age (if you are younger than 18 your parent can apply for the loan on your behalf), a UK resident, and hold a bank account that can process direct debit payments.
Loans are subject to status; you will generally be given a credit check before you are lent the money.
If you like you can pay off the loan before the set 9 months; there will be no penalty for early repayments.
There are no hidden fees such as administrative costs; and as there is no interest payable either, you will only be paying back the exact ticket price of your instrument.
Click here to go to the 'Take It Away' Arts Council England site, and find out more about the scheme.
We have done our very best to make sure that the information included in this Deal is accurate. However, sometimes offers can be withdrawn or changed at the last minute so please do check that you're able to redeem this Deal before parting with any money, or going out of your way to take advantage of the offer.
