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| Arena student Loans |
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At Arena, we have a philosophy of imparting skills to fresh talent – no matter what. In keeping with this, Arena offers the option of monthly payment of course fees. Hence, instead of making a one-time, lumpsum payment, students can choose to pay the fees in easy installments every month. |
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| For those who wish to avail of student loans, Arena, in association with HDFC Bank, offers interest-free student loans with zero processing charges. Only students within India who have passed Class 12 and are opting for the full AAASP, AMSP or DAE career courses are eligible. |
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| When to apply? |
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| The minimum loan amount that can be availed of is Rs. 50,000. Hence, current AAASP, AMSP or DAE students whose outstanding fees exceed Rs. 50,000 are eligible to apply, as also new students who would like to take a loan of up to 90 percent of their course fees. |
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| How to apply? |
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| To apply for the loan, the student will have to take admission to AAASP, AMSP or DAE at any of our centres, make a down payment of 10 percent of the total course fee, and fill up an HDFC Education Loan Application Form. The student’s parent, blood relation or spouse has to become a co-borrower or co-applicant for the loan. |
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| Terms & Conditions |
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Loan amount of minimum Rs. 50,000 and maximum Rs. 3 lakhs will be disbursed. |
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Students not meeting the credit criteria of HDFC Bank may be asked to furnish additional security as acceptable to the Bank. |
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Rate of interest for the loan is 14 percent per annum. Interest shall be fully refunded by Arena after the student has paid all the EMIs and cleared the loan to the Bank’s satisfaction. Refund will only be made provided the student does not default on the payment of even a single EMI. |
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Student has the choice to repay the loan in either 24 or 36 Equated Monthly Installments (EMIs). |
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Loan tenure shall be based on the co-applicant’s employment and at the sole discretion of HDFC Bank. |
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No part prepayment of the loan is permitted. The entire outstanding may, however, be prepaid by paying 4 percent of the outstanding amount towards ‘prepayment charges’. |
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Loan agreement shall be executed directly between the student and HDFC Bank and Arena shall not be liable in any matters connected with the loan. |
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| For details |
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| Check with your Arena centre counsellor for loan details. |
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| Note |
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| Arena also offers student loans through Indian Bank, valid only for the state of Tamil Nadu. Contact our Chennai office for further details. |
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